The gold market welcomed a wave of new investors on Wednesday morning, and the increased demand for safe-haven assets subsequently elevated some gold coins to new all-time heights. The one-ounce American Gold Eagle coin is valued at more than $1100, and the Proof version of that coin is now trading in the $2000 range. The Gold Eagle Proof, which is in limited supply, is projected to achieve a value of more than $4500 per ounce within the next decade, and this coin has increased 14.8% within the last four months. Investors could see a mild pullback in precious metal spot prices within the next few days, as some short-term investors are expected to take profits after gold reached a new all-time high for two consecutive days. The gold spot price has registered yearly gains since 2001, and some analysts believe that gold could surpass $1400 per ounce before 2011, if inflation levels approach or exceed 6%.
Rob Arnott, money manager and Chairman of Research Affiliates, Inc., encourages his clients to designate 25-30% of their assets towards inflation protection. Arnott endorses more common commodities, while other analysts have said that precious metals are the wiser choice. Many market experts believe that the same “quarter of every dollar” logic applies to retirement accounts, which could be why some investors decided to buy Gold Eagle Proof coins, which are the only government non-confiscatable coins that are permitted for retirement accounts. Individuals who buy Gold Eagle Proof coins typically plan to hold their gold for several years, or until withdraws from their accounts begin. Selling and purchasing gold is ideally facilitated by contacting a reputable gold exchange with an A+, Zero Complaint track record with the Better Business Bureau. Amazon Alexa-ranked brokerages that have a five-star rating are also highly recommended. Investors can track the live gold spot price at www.Kitco.com and www.GoldPrice.net around the clock.
Steven Martin
Senior Gold Specialist - Buy-Gold.org
