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Gold Coin Prices Rise to End Week

Despite a week in which gold coin prices fell across the board (the sole exception being the American Eagle Proof gold coin) Friday’s trading session was kind to gold coin investors. The gold coin spot price rose by $6.50 today, bringing the value of the yellow metal to $1283.90 per ounce.

Gold turned in an incredible performance last week but profit-takers jumped out of the market this week, severely limiting gold’s ability to grow in value. In addition to profit-taking, gold dealt with the following challenges this week:

  •  less media attention on Syria, ISIS and Hamas
  • the USD Index gained 1.1%
  • news of a popular gold dealer going out of business
  • back-to-school business

Gold has a track record of turning in positive performances during the month of September, something many gold coin investors know and will no doubt be hoping for as we creep closer to Labor Day. In fact, many gold coin dealers have reported an increase in the number of gold coin investing inquiries, a sure sign that buyers are expecting a bull market.

While today’s price increase of $6.50 is small in terms of movement as a percentage, it could push gold into the stratosphere if technical and emotional factors are at gold’s back. Gold bullion coins jumped by about $7 per ounce today, many certified gold coins gained $10 or more, and the IRA-friendly American Eagle Proof gold coin jumped a whopping $15 on gold’s growth as well as rumors of a Proof coin shortage.

For a full breakdown of gold coin prices each week, as well as regular gold coin market updates and discounts, sign up for the GoldCoin.net newsletter by choosing a free magazine below or by calling (800) 425-5672 today and asking for the Toll-Free Information Desk.

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