Certified Rare Coins Posted by James Randolph on March 06, 2009
Safe Haven Rallies
March 6, 2009 – Several investment-grade certified rare coins could be increased in value as the gold spot price begins to regain its strength based on the sliding stock market and ever-increasing unemployment rates. Yesterday, the Dow Jones Industrial Average fell 4.1% and it has already lost 20% since the beginning of the year. Unemployment on the other hand has risen to 8.1%, which signals 2.5 million jobs lost in only the past four months. Wise American investors are seeing a storm up ahead and many are inundating their investment portfolios and safes with precious metals and certified rare coins. It’s surprising to know that the majority of people know that there is something wrong with the global economy yet they do not understand the severity of this financial crisis. The United States economy in particular is sitting at around the same level that it was during post-World War II.
Safe haven buying continues to be the driving factor for the increasing values of precious metals and certified rare coins, and the gold spot price is currently at $938.70 per ounce, an increase of $6.30 or .68% for the trading day and also an increase of $32.80 or 3.62% in the last 30 trading days. Several updated market projections have been made by major financial institutions such as Citigroup and Merrill Lynch, and one of the newer ones is from Morgan Stanley is expecting the average to be $1000 per ounce this year from a previously predicted $900 per ounce. Things are certainly looking good for the metal, so let’s see how the year turns out.
Senior Staff Writer – Certified Gold Exchange