January 12 - Daily Rare Coin Update
January 12, 2009 – Rare gold coins appreciate in value today, as have all precious metals as a direct result of the external factors that continue to affect all precious metals. The United States Dollar continues to lose value against other currencies and the Bank of England dropped its benchmark interest rate to the lowest level in over 300 years since 1694. Over in the United States, nearly 2.6 million jobs were lost in 2008 and over 1.9 million jobs were lost in the last four months alone, according to the latest job data. Unemployment levels rise to 7.2%, which is the highest we’ve seen in 16 years up to 11.1 million. The last time we saw unemployment levels like that was during the beginning of the Great Depression. Rare gold coins should only continue increasing in value as the economy continues to go down the drain and more and more investors look to precious metals as the ultimate safe haven during these dark times. It’s only a matter of time before everyone realizes that we are in a precious metals cycle and that rare gold coins may be one of the only ways to preserve and profit our hard-earned wealth.
Gold is currently trading at around $858 per ounce, a .19% increase for the day and a 6.64% increase for the last 30 days while sober raises about $.12 up to $11.22 per ounce. Future projections for both rare gold coins and rare silver coins continue to be positive and spot prices should continue to increase into next week and possibly continue to increase into the next few months as the economy continues to worsen. Have a beautiful day and an excellent weekend!
Arthur McGuire
Senior Staff Writer - Certified Gold Exchange
