Digital Journal reported that sales of American Eagle gold coins tripled in November as both investors and banks braced themselves for the impending fiscal cliff that threatens to trigger over $600 billion of spending cuts and tax increases.
As quoted in the market news:
American Eagle gold coin sales reached 131,000, more than triple last year’s November sales of 41,000. Expert analysts at America’s gold coin superstore, Gold Coin project that gold coin sales will continue to increase, pushing their price beyond $2,000 per ounce in 2013.
President of Gold Coin, Arthur McGuire, commented:
The fiscal cliff is causing a huge stir in investment markets, and this is precisely why gold coin sales skyrocketed in November. Many wise investors know that no matter what the fiscal cliff resolution is, the US economy is still in a deep financial hole, and this is good for gold. The precious metal has already increased over 600% since 2001, marking its 12th year of consecutive price gains. Our expert gold analysts project that gold coin sales will continue to increase as more investors invest in gold as their ultimate safe-haven profit and wealth preservation tool. We expect gold coin prices to pass $2000 per ounce in 2013.