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Gold Silver Coins

March 2, 2009 – Gold and silver coins are losing some value today as the short-term profit-taking starts to slow down and looks like it may turn into a safe haven buying fiesta in the upcoming weeks. Many intelligent investors are purchasing gold and silver coins at the moment as a result of seeing the failure in other investing markets. Stocks for example have lost more than 47% in the past two years and the Dow currently sits at around 6900 points, which is the lowest we’ve seen in 11 years. The store of wealth attributes of gold and silver coins makes them extremely appealing to investors who have lost so much of their hard-earned wealth with equities, yet the precious metal market still remains underpopulated which means that there is still much room for growth as the demand increases. The financial crisis has torn the global economy to shambles, but the worst part is that things can still get much worse.

Spot prices are continuing their downward motion for the sixth day in a row, with gold moving down to around $925.40 per ounce, a decrease of $14.20 for the day while silver falls $.22 to around $12.89 per ounce. A short-term projection that I read earlier in the day spoke about gold having the possibility of reaching $1400 per ounce this year while silver could reach $24 per ounce depending on the instability of other markets. Diversify well and happy investing.

Arthur McGuire

Senior Staff Writer – GoldSilver.org

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