Gold Coin Prices Rise For Third Straight Week, Reports Gold Coin

Online, March 25, 2013 (Newswire.com) - Gold backed away from the $1600 level on Monday morning but was still able to post a 0.9 percent gain for the week, easing concerns among investors that substantially lower gold coin values were on the way. The Cyprus bailout and a stronger U.S. currency provoked some investors to liquidate their metals and take profits, but some recent surveys have shown that Americans are still bullish on gold coins.

Out of 33 participants in the Kitco News Gold Survey, 22 believe that prices will continue to rise, while four are looking for lower prices in the near-term. Two individuals believe that gold is where it should be price-wise, and five of the participants did not offer a prediction. A Bloomberg survey of 25 analysts yielded similar results. Of the 25, 16 see gold going up while seven individuals are bearish on gold and two are neutral. Gold has notched gains for three weeks running, but despite the recent surge in gold coin investing, gold is still down $69.70 per ounce over the last 365 days.

The U.S. Mint is reporting that gold bullion coin sales are up in the year-to-date, monthly and weekly ranges. U.S. gold bullion coin sales (both of the Eagle and Buffalo variety) totaled 14,500 ounces this week in comparison with 10,500 ounces the week before. Analysts have attributed the rise in sales of gold bullion coins to household investors' uncertainty about the world's financial markets and their effect on U.S. currency.

Arthur McGuire, Vice President of Gold Coin says, "Gold coin prices are rebounding and we are expecting current trends to continue in the coming weeks. Investors looking to profit from this upswing are recommended to buy gold coins now before prices become relatively higher."