Certified Gold Coin Prices Posted by James Randolph on June 15, 2009
All Hail The Almighty Dollar
June 15, 2009 – Bullion and certified gold coin prices are continuing their downward trend today as the almighty United States Dollar continues strengthening after both the Russian and Japanese Finance Ministers mentioned that they have full confidence in the dollar’s reign as the world’s primary reserve currency. Lately, there have been concerns about the fiat currency’s overall strength, with some speculation saying that major countries could begin shifting their reserves away from dollars and dollar-backed assets. The latest news is a curveball for bullion and certified gold coin prices, especially since bullish market analysts believed that the gold spot price was headed towards its all-time record high of $1033 per ounce. It appears that a small setback is occurring with the spot price today, and this could create an excellent bargain hunting opportunity for investors who didn’t enter the market before the last rally. Short-term projections continue looking positive for bullion and certified gold coin prices, with several market analysts holding strong to their previous projections of $1200 per ounce before the end of the summer. Let’s see if gold can give the United States Dollar a run for its…money.
During the midday trading hours, it appears that certified gold coin prices have taken a hit today as the daily market spot price of the metal falls to $928.20 per ounce, down $10.10 for the trading day and also down $2.70 in the last 30 trading days. It is highly recommended that you keep a close eye on the inverse correlation between the spot price and the Dollar Index in order to potentially determine short-term market movement.
Senior Staff Writer – Certified Gold Exchange