, IncNovember 20, 2009 – A lower gold price was listed on the Commodities exchange (CONEX) division of the New York Mercantile Exchange (NYMEX) after three straight days of gains. Thursday’s gold spot price of $1133 was slightly lower than the all-time high of $1153 that was set on Wednesday afternoon.
The lower gold prices as caused by the strengthening dollar, but most economists are skeptical that US currency will be able to rebound to pre-recession health. Our government has manipulated US financial markets by infusing trillions of dollars of paper money into dying sectors like big banks and commercial real estate.
Our government’s efforts have overwhelmingly failed, because the mild improvements that were seen in the third quarter of 2009 have been called an anomaly by some Wall Street experts. A lower gold price over time could mean that our economy is improving, but the dollar is expected to drop further and gold owners are not likely to give up their ore anytime soon.
There are some short-term gold investors who are just hunting for quick profits, but the majority of US gold owners have purchased precious metals as a back-up plan and an insurance policy on their financial wealth and independence. Only another US government-led gold bullion confiscation could pry these investors from their gold, and many investors have freed themselves of that fear by purchasing gold that has been deemed non-confiscatabale.
Historically, gold coins of rare and unusual value were exempt from seizure by our government, even in a time of crisis like the Great Depression, so these same types of coins would most likely be protected again. Contact us directly or call or toll-free number to learn more about the various categories of gold, and to take advantage of today’s lower gold price.
Stewart Lawson
Senior Staff Writer - GoldPrice.net
