Gold showed signs of cooling just a bit yesterday following a high of nearly $1,585 last Friday. Part of the fall back is attributed to a new Chinese economic policy that is designed to help mitigate fallout from the Coronavirus crisis in the Asian nation, an epidemic situation that has seen thousands of people afflicted by the deadly virus. Gold closed Monday at around $1,580.
How will this affect investors throughout the rest of the week? It’s tough to say. Surely, gold has seen bigger single-day corrections in recent weeks, but a downward tick can help entice some precious metals players to go into a buying mode, helping to offset any selloffs by skittish investors who may be looking to cut loose some of their gold holdings in the wake of the small but notable losses yesterday.
In the meantime, those who want to buy gold should consider pre-1933 United States gold coins, which have some of the slimmest numismatic premiums of any gold coinage. American Gold Eagles also represent good purchases for anybody who wishes to buy gold coinage at very small premiums over melt.
