April 30, 2009 – The value of gold and silver bullion coins is experiencing some resistance today, as a recovery in global stock markets has receded the overall physical possession demand for safe haven precious metals, yet several market analysts believe that a rebound is imminent based on the latest gloomy economic data. United States consumer spending has declined more than forecasted during the first quarter of 2009, while unemployment continues to soar and plummeting home values are pushing investors to seek the ultimate store of wealth during these troubling economic times. According to Bloomberg.com, it appears like consumers are not spending at the moment and instead they are simply saving and paying off debt. Despite all the negative economic data that has been released, there is still strong sentiment about the future of United States stocks in particular, but many investors don’t understand that an inflated dollar could mean significant problems down the road for equities and other fiat backed assets. Thus, wise investors are purchasing gold and silver bullion coins as well as investment-grade rare coins that historically act inversely to the dollar and other negative mainstream market movement.
By around 1 PM Eastern Standard Time, it appears like there is lower demand for gold and silver bullion coins in the United States, yet this is signalling a bargain hunting opportunity in the short-term, with the gold spot price currently sitting at $888.40 per ounce, down $9.30 for the trading day while the silver spot price is currently sitting at $12.41 per ounce, down $.39 for the trading day.
Shannon King
Senior Staff Writer – GoldSilver.org
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