Learn How Gold Coin Prices Could Rise On Debt Concerns Directly At GoldCoin.net

March 5, 2010 – Rising gold coin prices are likely next week, according to a Bloomberg survey of industry experts that was conducted today. Seventy-three percent of the traders, investors and analysts surveyed predict higher prices as concerns continue over the ongoing Greek sovereign debt crisis. As of 3:30 PM EST today, gold was ending a strong week by gaining 50 cents to stand at $1,134.00.

While the Greek government announced $6.5 billion packages of tax increases, spending cuts and payroll trimming, demonstrators threatened the achievement of the measures with massive protests. Credit analysts Standard & Poor’s and Moody’s have warned of lower credit ratings for the country if the measures are not followed. Success in Greece will likely form a plan for Ireland, Spain and Portugal, fellow EU members that are also struggling with debt concerns.

Gains next week could hinge on the outcome of a meeting between Greek Prime Minister George Papandreou and German Chancellor Angela Merkel. Merkel was involved in forming a European pledge of “determined and coordinated action, if needed” to aid Greece.

“The growing issue of sovereign debt continues to draw investment demand into the market,” James Moore, an analyst for one London-based website. As gold coin prices continue to rise, Moore states, “Encouragingly, we have seen the return of demand through the SPDR ETF.” The world’s largest exchange-trade fund has recently increased its holdings by more than 1 percent.

After consolidating its gains today, many analysts expect gains in gold coin prices for the week ahead as further resolution of the Greek debt situation arrives and demand continues to increase. 

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Kevin Johnson

Senior Staff Writer - GoldCoin.net