Certified Gold Coins Posted by James Randolph on February 02, 2009
Overdone Rally Or Just The Beginning?
February 2, 2009 – Certified gold coins have maintained their value over the weekend despite the price of gold coming down substantially from its three-month high due to investors saying that the rally could have been overdone. Last week’s gains were nothing less than impressive and it’s been said that spikes in the value of the metal will continue to occur as long as the economy continues to get worse every single day. The United States Commerce Department reported last week that the economy has already contracted the most in 27 years and further news like this could spark some serious investor demand in both precious metals and certified gold coins. Today we see the United States Dollar gain versus the Euro and the British Pound but it has fallen in value overall about .2%. Crude oil has also fallen to around $40 per barrel and this could just be the beginning of serious fluctuation in markets around the world.
Gold spot price today is at around $914.60 per ounce, down $12.50 but still at an impressive increase of $39.70 in the last thirty trading days. With last month’s projections saying that we could be seeing $1500 per ounce, it’s really a waiting game to see whether the economy will continue to get worse, which in turn will spark the investor demand for precious metals and certified gold coins. Good luck with investing and have a beautiful day.
Senior Staff Writer – Certified Gold Exchange