Gold Coin Price Changes

November 9, 2009 – Most investors who purchase gold coins plan to hold those assets until our government finds a way to repair our financial markets without sacrificing our dollar’s long-term solvency. The dollar’s recent fall against other major currencies means that we could be holding our gold coins for an extended period of time, despite the dollar’s temporary strengthening in the last quarter because of our government’s stimulus funds. Recent gold coin price changes were noted by investors in all fields, because the gold spot price surpassed the $1100 mark for the first time ever last week. Economists believe that $1100 gold spot prices will be sustainable over the short-term, and some of these same economists have called for $1400 spot prices in 2010.

Large banks like JP Morgan and Merrill Lynch didn’t expect the Commodities Exchange (COMEX) gold spot price to reach $1100 until the end of 2009, but the dollar’s relentless freefall has elevated gold prices sooner than expected. The Gold Price Index (GPI) found at www.Kitco.com shows the movement of the gold spot price due to the dollar devaluation’s and increasing demand. The GPI currently shows that some investors have take profits today, but the negative effect on the gold spot price was countered by the substantial devaluation of our greenback. The rising gold spot price, which can be tracked live at www.Kitco.com and www.GoldPrice.net, immediately affected gold bullion coin prices. The one-ounce American Gold Eagle is trading at $1169, which is a 1.8% increase over Friday’s values. Gold coin price changes were also realized in the certified coin market, as seen on the Professional Coin Grading Service‘s price guide at www.PCGS.com.

Gold bullion coins are up 5.4% in the past month, and investment-grade certified coins are up 9.8% in the same time period. While the current levels of profit-taking could sustain throughout the holiday season, the dollar index’s decline could outweigh these selloffs and escalate the gold spot price further. If you are concerned about our nation’s financial future, contact us directly at 800-300-0715 to learn more about the protection that you can find in the gold coin market. 

Kevin Johnson

Senior Staff Writer – GoldCoin.net