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December 23 - Daily Gold Bullion Update

December 23, 2008 - Gold coin markets have slowed down a bit for the holiday season and based on 2009 projections it looks like prices will continue to pick up after the New Year. Early-morning gold spot price sits at around $842.90 per ounce, which is a $4.70 drop for the day, a 5.15% increase for the last 30 days and a 3.84% increase for the last 365 days. It looks like market speculation and strong oversight is what is moving the market right now and it’s sending prices to levels that are not directly related to real supply and demand. It is a possibility that once the speculation ends we could see gold coins reaching more profitable levels for its investors.

Global economy remains in unrest and ports around the world are looking like ghost towns right out of a scary movie. We are without doubt living through one of the hardest periods seen in economic history. United States home prices are at their lowest levels since 1990 and we could see them go even lower as further pressure comes down on American citizens. The United States aren’t the only ones doing bad, and last week the United Kingdom reported that their economy is at its weakest point since 1990. What else could go wrong? A lot more, which is why bullion and certified rare gold coins will become the trend as economies continue to flounder. I wish you an excellent day and a beautiful holiday season.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange

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