March 16, 2009 – Wise American investors are noticing an opportunity to enter the precious metal market as the value of US gold coins decreases today due to a rally in mainstream financial markets. There seems to be an increasing confidence with the United States Dollar and its corporations, which is probably why stocks are rebounding this week while the spot prices of precious metals are declining. US gold coins are projected to increase in value by the end of the week based on the projected outlook of increased safe haven demand and an alternative to currencies that may even push spot prices into the $1000 per ounce area once again. Another projection is saying that the quantitative easing coming from Europe could create a solid foundation for precious metals spot prices, which could be beneficial for the values of US gold coins like American Eagle and $20 Saint-Gaudens. Let’s see what surprises 2009 has in store for us investors.
Currently, the gold spot price is at $922.80 per ounce, down $6.60 for the day and also down $19 for the month while the silver spot price falls $.31 to around $12.87 per ounce. Although both metals are seeing a small contraction this week, market analysts and financial institutions around the world continue to recommend a solid diversification as soon as possible in order to benefit from the incoming problems that could destroy investment portfolios, such as hyperinflation and even deflation. Happy investing and remember to diversify well and track the markets appropriately.
Senior Staff Writer – GoldSilver.org