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Daily Gold Bullion Update

September 30, 2009 - Gold bullion prices escalated during early afternoon trading, largely due to global nations that are picking up on the idea to utilize global carry currency trade. Global currency trade is used to borrow assets from one country, with the intention of repaying the money later, after it has become significantly devalued. The currency that these countries are using is none other than the US greenback, so a great many many stateside investors are diversifying into gold bullion, and rare coins.

Many nations who are fed up with the Fed's upswing in spending are financially attacking America in a way that could leave lasting scars on our country. Germany recently stated that their central bank would begin borrowing in dollars to produce "savings for the federal budget." These savings would make themselves apparent by a declining dollar, leaving Germany to pay back significantly less than what was originally borrowed. Sweden, Hong Kong, and Hugo Chavez-led Venezuela are participating in global carry currency trade with US dollars, and they expect that the devalued currency will aid the reimbursement of funds that were lost by devaluing US bonds. Investors within the United States who want independence from the dollar's catastrophic fall should research commodities like gold, which has historically increased in value when the Dollar's solvency has been called into question.

Gold bullion trades on the New York Mercantile Exchange on a per-ounce basis. Today's spot price is $1009.30, which is a $15.90 gain for the day. Gold has risen 5.99% in the last 30 days, and investors should visit www.Gold-Investment.info for a full understanding of the precious metal market. 

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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