Daily Certified Gold News Posted by James Randolph on April 21, 2010
April 21, 2010 – Investors who are considering a long-term move into certified gold coins for financial protection could use recent price declines in more widely-traded coins to their advantage. Since last week, the price of PCGS and NGC-certified, MS (Mint State) 63 Lady Liberty $20 coins have pulled back 1.5%. Saint Gaudens $20 MS 63 certified gold coins have also declined to a similar extent throughout the past week, providing a more appealing entry into the precious metals market for more frugal investors and allowing more seasoned certified gold investors to cost-average their investments downward.
The U.S. dollar’s most newly found stability is largely relative due to its’ comparison to the struggling euro. The euro’s struggles are most largely attributed to Greece’s continuing economic complications as well as a generally glum attitude among European consumers during the first quarter of 2010. Apple saw a 90% increase in net income for the most recent quarter due to their explosive smart phone sales, while the boards of organizations like the European Union and the IMF (International Monetary Fund) are meeting this week to determine possible avenues of creating wealth amidst the current worldwide recession.
While the US dollar’s recent surge has hindered the growth of gold-based portfolios, the increased fear among American consumers that the greenback will wither significantly before the 2012 elections has spurred a buying frenzy of both certified gold coins and bullion-type products. Technical analysts believe the bullion spot price could experience substantial fluctuation over the course of 2010, due to the back-and-forth struggle between a crumbling dollar and opportunistic gold profit-takers. Current projections are for certified gold coins like the Saints and Liberties to increase 8-12% in 2010, so this week’s price reduction could be a great indicator to start increasing holdings once again.
Senior Staff Writer – Certified Gold Exchange