Feb. 22, 2011
-- A Federal Government report disclosed last week that consumer prices jumped for a second month in a row in January sparking a concern that the overprinting of dollars by the Federal Reserve is raising inflation fears. In times of inflation, the price of gold coins jump as investors buy gold to protect themselves against inflation.
Not only was the prices of gasoline and food up, but the prices of clothes, rent and travel also increased. Overall, the average price of goods and services purchased by Americans was up 0.4 percent from December and up 0.2 percent overall, the highest increase since October 2009.
The rise in consumer inflation should increase the demand for gold coins as people invest in gold. It should also support the price of precious metals with silver coins hitting a 31 year high just last week. The price of gold is expected to increase as the continued expansion of inflation continues.
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