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Gold Coin Traders Set Sights on QE3
The disappointing job numbers released on Friday significantly increased the likelihood that the government will have to implement another round of economic stimulus.
Gold coin investors were eagerly awaiting the Federal Reserve’s next policy meeting in September to see if the agency planned more stimulative activity to jump start the economy.
"We would not be surprised to see gold revisit fresh all-time highs in the next few weeks," Ross Norman, chief executive of London bullion dealer Sharps Pixley told Dow Jones Newswires.
The downward pressure on the United States dollar of additional economic stimulus would be positive for the price of gold coins. Traditionally, when the value of the dollar declines, the price of gold goes up.
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