February 2009.....Gold Coin Rush
The ongoing crisis in banking and investments has moved into the area of collecting, with panic-driven British, North American and European investors
The ongoing crisis in banking and investments has moved into the area of collecting, with panic-driven British, North American and European investors
selling out of shares and buying into physical gold, in particular gold coins.
In just the first seven weeks of 2009 the demard for gold bullion, bars
In just the first seven weeks of 2009 the demard for gold bullion, bars
and all types of gold coins has soared beyond belief.
There have been reports from coin dealers about widespread shortages
There have been reports from coin dealers about widespread shortages
of gold coins amid huge buying interest.
The strength of investor demand has pushed up the gold price to its current
$1000 per troy ounce range with the possiblity of larger gains still to come.
People are also concerned about holding large amounts of cash
in bank accounts because of the general lack of confidence in the banking and financial sector, and also the huge drop in interest rates has made many people look for a safer haven for their savings.
We have also heard that Russia has started to buy gold to help support the Rouble,
If world currencies become unstable, we would expect even higher gold prices!