February 3 - Daily Rare Coin Update
February 3, 2009 Rare coins are maintaining their historical stable prices despite the tug-of-war that we’re noticing with gold prices due to the short and long-term investors entering and exiting the market in order to profit as quickly as possible. The recent reports are saying that the overall safe haven demand for precious metals has increased due to the increased worry by investors about the future of the United States and the worsening recession. We’re also seeing the United States Dollar along with equities being hit hard at the moment which could result in some higher pricing of gold, silver and platinum by the end of the week. Rare coins could continue to hold their price until precious metals rebound once again by the end of the week as a result of the dreaded unemployment news that is supposed to spur even more speculation that the economy is getting worse by the day. Times are not looking good for many investments, and many investors are flocking to any type of precious metal they can find in order to profit and preserve while they still can.
Today we’re seeing the gold spot price fall to the area of $896.50 per ounce, down $8.30 or 1.92% for the trading day but still at an increase of $21.60 or 2.47% in the last 30 trading days. Certified metals may prove to be an even better investment than standard precious metals due to their more profitable and preservative attributes that they hold over bullion. Invest well and have a beautiful day.
Arthur McGuire
Senior Staff Writer – Rare-Coin.org
