The gold spot price is currently experiencing some minor fluctuation today as the ongoing tug-of-war between optimistic and pessimistic investors continues based on an array of unstable economic data, yet it appears that many investors are still deciding to buy gold coins because the metal could outperform most other investment markets this year. Typically, investors buy gold coins as a store of wealth, and lately we’ve been seeing both long-term wealth preservation and short-term profit-taking demand increasing because projections are saying that spot prices could hit $1250 per ounce before summer’s end. Some of the most popular coinages that investors are turning to at the moment are the modern-day bullion American Eagles and the pre-1933 certified $20 Double Eagles. It is always highly recommended that you work directly with a precious metal expert before beginning a diversification because some gold products may be good for some investors and not for others, thus it is important that you find the perfect product that suits your portfolio in order to maximize investment potential.
By around 11:50 AM Eastern Standard Time, it appears that many investors are still deciding to buy gold coins, yet the spot price has taken a small step back due to short-term profit-takers cashing in on their investments. Currently, the metal is sitting at around $952.10 per ounce, decreasing $2.50 or .26% for the day yet still increasing $35.90 or 3.92% in the last 30 days. The United States Dollar continues to be the primary driver for gold, so don’t forget to keep a close eye on it in order to potentially determine the short-term movement of the metal.
John Halloran
Senior Gold Specialist - Buy-Gold.org
