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Daily Gold Bullion Update

September 17, 2009 - Many American citizens with retirement accounts are now converting assets inside those accounts into gold bullion, says a recent economic study. The report notes that inactive 401K and 403B plans are being converted into gold-backed IRAs more often as well, due to rising inflation worries and bearish stock markets. Gold bullion was used in past cycles as a short-term hedge against currency inflation.

The surge in gold bullion prices comes at a time when consumer confidence in the stock market is down. David Chalupnik, head of equities at First American Funds, believes that stock indexes could see some lower numbers in the near future. More corporate debt can sometimes translate into lower stock returns, and with corporate debt at an all-time high, it comes as no suprise to many economists that IRA, 401K, and 403B accounts have lost an average of 35% of their value recently. The move into gold bullion, which reached a 25-year low in 2001, is projected to continue as industries fail and overprinting of US currency continues. Investors who have retirement accounts of concern can visit www.certifiedgoldexchange.com to receive a free copy of the 2009 Retirement Account Investment Guide.

Gold bullion is down $2 per ounce today, and it currently holds a per-ounce price of $1016.30. Before the numbers are adjusted for the 13% inflation that the US Dollar has experienced this fiscal year, gold has seen a 17.66% price increase over the last 365 days. The American gold Eagle Proof coin, which is the only government non-confiscatible gold coin that can be put inside a retirement account, and all other gold bullion products, can be followed up-to-the-minute via www.goldprice.net.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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