Find Out How Rare Coins Are Performing With Gold Sustaining Its Way Up Directly At Rare-Coin.org
April 7, 2010 - Gold successfully sustained the rise it started more than two weeks ago with $1136.20 as of 11:00 a.m. HK time. The increase, if successfully kept by gold until the close of trading day, is $10.20 or 0.91% more than the $1126.10 sales at the end of the first quarter just before the holidays.
The five or so days after the holidays had not been ideal for the growth of precious metals or rare coins. The US dollar is on the rise. It had gained on the Euro three days in a row. All in all, the dollar has topped the Euro by 6.4% in 2010.
A strong dollar is bad news for gold and other precious metals. The market becomes wide open for other areas of investment that come alive and become profitable. Already many investors have gone the way of equities which have become attractive in an improving US economy. One industry figure is not worried about gold’s performance in an improving economic climate and even counts on it to “hoist(s) demand for commodities.”
To the credit of gold, it managed to sustain its rise despite the “interference” of the US dollar. “Profit-taking” after the holidays was another area of resistance that gold and rare coins had to overcome.
The first week of the second quarter comes right after a holiday weekend, and which holiday weekend comes after a two-week run by gold and after the end of the first quarter. Could it be that industry players had been predisposed to take a breather? Neverrtheless, gold posted a creditable 0.91% hike.
Two days ago we asked where gold was going. Quo vadis, gold? The answer remains predictably the same: UP.
Shawn Penny
Senior Staff Writer - Rare-Coin.org
