Certified Rare Coin Pricing Posted by James Randolph on April 23, 2009
$900 Benchmark Surpassed
April 23, 2009 – The $900 per ounce benchmark has been officially surpassed today based on escalating fears that United States economy along with the global recession in general will continue to worsen. Certified rare coin pricing is benefiting significantly from the higher spot price of the metal and short-term trading is still showing an inverse correlation between safe haven precious metals and risk-taking stocks. The overall health of the US economy is getting progressively worse, and everything from unemployment to real estate sales are showing signs of a deepening recessionary cycle. Treasury Secretary Timothy Geithner just recently said that “The world economy is going through the most severe crisis in generations.” Short-term projections are expecting the financial crisis to continue, and this basically means extended instability with equities, which may be very beneficial for certified rare coin pricing that historically thrives during these difficult economic times.
During the midday trading hours, certified rare coin pricing is showing a decent spike in value that is a direct result of the increasing safe haven demand as investors are beginning to flock to precious metals yet again, and the gold spot price currently sits at $906.60 per ounce, up $15.90 or 1.79% for the trading day and also up $2.70 or .30% in the last 365 trading days. It is recommended that investors keep a close eye on the market, especially since several market analysts believe that a large rally to the metal may begin if the spot price surpasses $915 per ounce.
Senior Staff Writer – Certified Gold Exchange