January 15 - Daily Rare Coin Update
January 15, 2009 Rare coin projections remain solid for 2009 despite all the recent fluctuation that has been driving the spot price of gold and silver up and down since the beginning of the month. This is mostly due to a stronger United States dollar that is expected to fall in the near future as the data continues to seep in about last month’s retail sales that were twice as worse than expected. The results show that sales fell to a 2.7% decline for normal goods and.7% for automobiles. This along with other information about the weakening global economy should be driving investors away from the United States dollar and into safe haven buying of precious metals. If this happens, rare point projections could become a reality and we could experience the 20% to 30% increases in rare coin values by around midyear unless the government steps in once again to try and save the economy.
Today we’re seeing gold trading in the area of $811, which is a decrease of $8.70 for the day while silver decreases $.21 down to around $10.50 per ounce. The beginning of 2009 hasn’t been too positive for gold and silver but with such powerful projections all due to a failing global economy, it only makes sense that prices could spike in your future as investors returned to precious metals as the ultimate safe haven investment. Until tomorrow fellow readers, have a beautiful day!
Arthur McGuire
Senior Staff Writer - Certified Gold Exchange
