RSS FeedRSS

Gold Bullion Coins, Rare Coins Fall Following Data Release

Gold bullion and rare gold coins dropped like the weighty metals they are in trading on Monday as the latest round of economic data hindered gold’s upward movement. By 4pm CST the gold spot price had fallen $4.80 to $1,330.70 per ounce.

A number of factors facilitated today’s price reduction, according to GoldCoin.net chief analyst Brandon Fields. “The dollar index grew nominally today, and this provided the spark that gold needed to fall. While the dollar’s strengthening only pushed gold down by about $1, it was more than enough for other factors to come into play, creating a snowball effect,” Fields said.

“Next,” says Fields, “technical traders started to dump gold, and since mining output has been down lately many stock investors dumped miners as well. Additionally, rumor has it that the Federal Reserve, led by Ben Bernanke, could start to slow and eventually cease its stimulus measures in the latter part of August or the early part of September. Many economists thought that QE would continue for another year or more, so this news shocked the majority of U.S. financial markets, including gold and silver,” Fields added.

One-ounce gold bullion coins fell in tandem by about $5.20 each, while fractional gold bullion coins fell accordingly. Rare gold coins like common-date St. Gaudens coins certified by PCGS or NGC fell $10-$15 each, depending on grade. Visit the Gold Coin Market Update page regularly for status updates on the market as well as commentary, opinion and special offers, and GoldCoin.net is also extremely proud of its blog so be sure to read and give feedback for our blog on a regular basis.

Get Your Complementary Award Winning Guides Below

 Publish Real Money Magazine

 Publish Gold Investment Magazine

 Publish IRA 401K Kit Magazine

 Real Money Magazine

captcha