Certified Coin Values Posted by James Randolph on June 12, 2009
Yet Another Step Back
June 12, 2009 – The gold spot prices is taking another step back today while investment-grade certified coin values are remaining flat as the United States Dollar strengthens significantly versus its major currency rivals, and the majority of today’s market movement is occurring as a direct result of international remarks saying that the dollar’s global reserve status is secure. The dollar is currently the main driver for gold and certified coin values, as they are both in a powerful inverse correlation, thus the strengthening fiat currency is putting some pressure on precious metals, but maybe not for long. Several market analysts are saying that the dollar may rebound in the short-term, yet the long-term dangers are the real problem, especially since deflationary and inflationary pressures could cause some significant damage to the dollar down the road if the financial crisis continues to worsen. Fortunately, gold has benefited during an array of different negative economic scenarios because wise investors flock to the precious metal as the ultimate safe haven and store of wealth diversification.
By around 11:50 AM Eastern Standard Time, gold is declining while several investment-grade certified coin values are holding on strong as they typically do when spot prices fluctuate suddenly, and the current spot price has fallen to $942 per ounce, down $12.50 for the day, yet still up $73.90 in the last year. It is highly recommended that you keep a close eye on the Dollar Index at the moment, especially over the weekend as speculation continues to arise about the future of the fiat currency.
Senior Staff Writer – Certified Gold Exchange