Gold Bullion Prices Gain on Investor Demand for Physical Coins & Bars
The recent drop in gold prices below $1400 has greatly increased investor demand for physical gold coins and bars. Demand for physical gold, from U.S. Mint gold bullion coins to rare European gold coins has increased more than 8 percent since the start of the year, and that's just 3 weeks into January. So what is causing this market demand?
Australia's Perth mint, who are responsible for minting the 24 karat Australian Nugget gold bullion coin, have reported that demand for gold bullion has increased since gold dropped below $1400. This is the same for the U.S. Mint, who has seen an increased demand for U.S. gold bullion coins.
Analysts at the top investment banks believe this is due to the fundamentals still driving long term gold prices strong, and prices remain forecasted to hit $1700 an ounce by end of the year, and $2000 an ounce within the next 24 months.
With investor demand increasing and prices currently below $1400 an ounce for a very short term, it is a great time to consider starting or adding to your existing precious metals portfolio by buying gold as an investment. Gold bullion coins such as the Krugerrand, American Eagle, and Canadian Maple Leaf are all seeing an increase in sales throughout this month. Credit Suisse and Pamp Suisse bars are also in demand as these all make for gold in IRA, if you are considering a 401k rollover into a gold IRA.
Buying gold bullion coins and bars is easy. Contact Precious Metals Brokerage Group (PMBG) and one of our account executives will be happy to assist you with all your questions on investing in physical gold, silver, platinum and palladium. Our retirement account department can assist you in setting up a self directed gold IRA. Call us today, and receive a free 2011 gold investment kit.
Article Source: FxTradingStock.com
About the Author
To learn about establishing agold IRA, then visit Precious Metals Brokerage Group (PMBG) to learn about buying gold as an investment.
by: Thomas Rosen
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Word Count: 308
Date: Fri, 28 Jan 2011
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