Certified RareCoin Prices Posted by James Randolph on July 09, 2009
More Overprinting…Coming Right Up
July 9, 2009 – Gold and certified rare coin prices have rebounded today on the New York Mercantile Exchange as many wise American investors are flocking away from dollar-backed assets based on dangerous speculation that has arisen about the United States Government continuing excessive overprinting and quantitative easing measures in order to prevent an inevitable economic collapse. Inflationary expectations are growing today after government officials reported that they are considering further stimulus measures because the latest $787 billion stimulus package was “a bit too small.” Several market analysts are saying that wise investors who believe that massive overprinting will continue to devalue fiat currencies are likely to begin shifting large amounts of funds into safe haven precious metals, thus we could see certified rare coin prices continuing their gains as the economy worsens. All eyes are currently on the United States Dollar Index, as further weakness could signal a large scale sell-off of dollar-backed assets in exchange for physical possession gold.
By 1:20 PM Eastern Standard Time, the gold spot price along with several investment-grade certified rare coin prices are on the rise yet again today as the United States Dollar Index takes a hit based on growing inflationary expectations. Currently, the metal is sitting at $916.50 per ounce, moving up $7.40 or .81% for the day, yet moving down $38.10 or 3.99% in the last month. Short-term market projections are forecasting that spot prices may test $925 per ounce yet again and fluctuate in that area until further dollar weakness creates significant safe haven demand.
Senior Staff Writer – Certified Gold Exchange