NGC Certified Coins Posted by James Randolph on July 30, 2009
Gold Against The Dollar?
July 30, 2009 – The gold spot price is rebounding today from a two-week low as the United States Dollar Index tumbles, thus causing wise American investors to continue purchasing gold bullion and NGC certified coins in order to protect themselves from the uncertainty that lies ahead. According to several market analysts, gold and NGC certified coins will continue trading in a powerful inverse correlation with the United States Dollar until something drastic occurs with either asset. In other news, China’s central bank has just reported that they will maintain a “moderately loose monetary policy” in order to support their economic expansion, and this is creating speculation that they may continue purchasing physical possession gold in order to protect their fiat currency from inevitable inflation. This is without a doubt a smart idea and many wise American investors are making similar diversification decisions, especially since the United States Government mentioned that inflation would be a necessary part of an economic recovery. Fortunately, PCGS and NGC certified coins could continue showing consistent gains as more and more investors turn to precious metals as their ultimate safe haven hedge.
By 11:30 AM Eastern Standard Time, gold bullion bars and coins along with several investment-grade NGC certified coins are increasing in value as the spot price of the metal climbs to $935.10 per ounce, increasing $5.70 for the day and also increasing $8.50 in the last month. The latest short-term market projections are saying that further weakness with the United States Dollar could push the spot price closer to its current resistance level of $950-$960 per ounce.
Senior Staff Writer – Certified Gold Exchange