Buying gold coins is increasing in popularity at a very fast rate today and market analysts from around the world are saying that a full-blown rally has begun in safe haven precious metals as the United States Dollar continues to tumble side-by-side with stock markets. In the past two years, the United States Government has injected trillions of dollars into our economy in order to control any negative sentiment that the financial crisis would turn into the next Great Depression, yet this pumping of currency and quantitative easing has only proven long-term inflation, which in the end is almost always beneficial for those investors who began buying gold coins before the spot price increased significantly. For example, back in the late 1970’s, our economy was facing a dangerously high inflationary cycle that was a direct cause of the government ending the gold standard and printing excessive amounts of dollars, thus the spot price of the metal increased more than 1000% as masses of investors flocked to it in order to preserve their hard-earned wealth and profit as spot prices skyrocketed. Several market analysts and investors believe that this may happen yet again, and a rally similar to what we’re seeing today may be the beginning of a massive shift from dollars, stocks, bonds and real estate into the one and only gold.
By around 11:50 AM Eastern Standard Time, it appears like many wise investors are buying gold coins, and this higher safe haven demand is continuing to push the spot price up to $944.40 per ounce, increasing $7.20 or .77% for the day and also increasing $61.10 or 6.92% in the last 30 days.
John Halloran
Senior Gold Specialist – Buy-Gold.org
