PCGS, NGC Gold Coin Prices Steady on New Data Posted by Brian Ford on October 21, 2013
After a week in which prices fluctuated wildly and culminated in gold surpassing the $1300 per ounce mark, PCGS and NGC certified gold coin prices were largely unchanged or slightly higher Monday morning. The drama over the government shutdown, the budget and a debt expansion deal captivated the nation and its investors last week and although Washington was able to find a temporary fix some analysts believe that our problems will only get worse with time.
Gold is traditionally viewed as an asset that could be helpful in times of economic crisis, and over the last few months quantitative easing and other government stimuli have left some investors with the feeling that we are seeing a light at the end of the tunnel. Unfortunately, that impression was shattered over the last few weeks as immature bickering and hard heads took over. Now that our lawmakers’ true colors have come to light some analysts expect the certified gold market to pick up.
The gold spot price was boosted this morning by the less-than-impressive home sales, which fell 1.9% last month alone. Additionally, the gold bulls are still trying to take control of the market following a week in which gold was able to find support above $1300 for the first time in weeks. Certified gold prices benefited from gold bullion’s rise as well as from the niche of investors who prefer long-term privacy over short-term savings, as evidenced by the latest numbers in the PCGS and NGC price guides, with most common-date gold coins even or up slightly, and only certain rare-dated coins (especially 1913 and 1914)showing losses from the previous update.