What New Economic Data Could Help Gold Coin Prices Rise? Find Out Directly At GoldCoin.net

March 8, 2010 – With today’s gold coin prices down amid positive economic news in Europe, upcoming US economic data may be the source of an upturn later in the week. The drop of gold prices today was started by news of a possible resolution in the Greek debt situation, where $6.5 billion in government spending and payroll cuts and a bond sale of $6.8 billion are expected to trim the deficit from 12.7 percent to 8.7 percent.

In addition to this news, word of a 0.6 percent increase in industrial production in Germany furthered a climb by the euro and a drop in gold. As of 2:30 PM EST today, gold was down $10.70 at $1,124.70, the US Dollar Index was up 0.020 to 80.45, and the euro had turned again and was down .04 percent to $1.3626.

The news for gold coin prices could change this week as a number of key US economic reports are due. The US wholesale inventories for January will be released on Wednesday with an estimated 0.2 percent increase; the federal budget will also be released on the same day. Thursday will include the US international trade report for January, which is projected to include a $41 billion loss, and the weekly initial jobless claims report. Friday will feature the February retail sales and the Reuters/University of Michigan sentiment surveys for March.

Much of the effect of these reports on gold coin prices is reflected in investor sentiment, something which is frequently affected by economic news. "Gold is currently profiting from investors increasing their risk appetite," said Peter Fertig, a consultant at Quantitative Commodity Research. As the next wave of economic data is released, gold will be looking to make additional price increases. 

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Kevin Johnson

Senior Staff Writer - GoldCoin.net