The Fluctuation Game Posted by James Randolph on January 13, 2009
The Fluctuation Game
January 13, 2009 – Certified gold projections continue to look positive as the gold spot price rebounds overnight after Monday’s sell off which brought the metal down to a one-month low of $813 per ounce. Most of the buyers right now are investors who are worried about the uncertainty in the global economy and even though the United States Dollar has been regaining its strength lately, people feel that this may not last long and that by owning some precious metals they may be able to hedge any problems that the economy may face in the next several months.
Gold is currently trading at around $825.10 per ounce, a $5.20 or .63% increase for the day and a $3.10 or .38% increase in the last 30 days. According to the latest certified gold projections, we could be seeing the spot price anywhere between $900-$1200 per ounce by midyear unless further stimuli and coordinated government responses to the financial crisis kick in before it’s too late. As far as certified rare coins are concerned, the most popular investment grade coins such as the $20 Saint-Gaudens and the $20 Lady Liberty could see some increases of about 20% to 30% this year depending on the fluctuation and supply and demand of gold as a safe haven investment. The best bet for investors right now is keeping our eyes on the United States Dollar and its movements and comparing it to the certified gold projections to make the best out of the investment. Have an excellent day and invest well!
Senior Staff Writer – Certified Gold Exchange