Gold prices are holding firm as traders approach the stock market with caution ahead of US job news which will be published today (Friday 7 Feb). Bullion went up another 4% today and is available at US$1,258.02 which is still an attractive price considering prices are likely to double in the next 20 years.
The precious metals market should be approached with a view to long-term gains rather than short-term – unless you have a substantial amount to invest. Even then you are not likely to recover much in the way of a profit in 2014 despite gold moving in an upward trajectory.
The 2014 design features the Hall of Prayer for Good Harvests (the Temple of Heaven) on the observe side and a panda holding a stick on the reverse. The line-up of coins is struck with 99.9% purity and come in a range of sizes; 1/20 oz, 1/10 oz, quarter ounce, half ounce and one troy ounce. This year´s addition will see the release of 800,000 coins going into circulation rather than the usual 600,000.
A brief history of the China Panda gold coin
The Chinese Panda gold and silver coin is minted by the China Gold Coin Incorporation (CGCI) in Shenzhen Guobao Mint and is a subsidiary of the Peopleʼs Bank of China. The first issue was in 1979 to celebrate 30 years of the founding of The People´s Republic of China.
Coins in fact have been manufactured in China for over 2700 years and currency is believed to have evolved in the Far East since around 1000BCE. The first recorded use of gold coins for currency for commercial activity in China dates back to 770BCE during the reign of the Chou dynasty.
Indeed, gold has been mined in China for over 2000 years and even today the Republic has established itself as a leading producer of the yellow metal, surfacing an average of 300 tonnes a year. Over the past 30 years China has established itself as a leading manufacturer of gold and silver coins.
Buying gold online
Although gold prices have evened out over the last week, you can still buy China Gold Panda´s online for very attractive prices. However, keep an eye out for news of the US job market, news of which will affect which way gold prices will go. Negative data will see gold increase in value whereas any sign the world´s biggest economy is getting stronger will see gold prices plummet.
Traders have genuine concerns about the health of the global economy at the moment and as the financial machine eases back to liquidity there will be continued uncertainty. However, the majority of analysts are confident currency will triumph and push gold prices down.
This will allow investors plenty of opportunity to add gold and silver bullion to their portfolio. For the latest prices on the 2014 China Panda gold and silver coins visit coininvestdirect.com today and make sure your financial future is secure.