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Daily Gold Bullion Update

October 1, 2009 - Prices to buy gold bullion pulled back slightly on Thursday morning trading, before they leveled out around noon EST. The increased fluctuation that gold experienced this morning is due, in large part, to the International Monetary Fund's(IMF) recent assessment of the US and world economy. In the past, key announcements and data that were released by the IMF have had an immediate and direct bearing on the gold bullion price, and such was the case today. Investors with precious metals holdings are encouraged to visit www.GoldPrice.net, for more information on gold price movement.

The IMF predicted Thursday in their bi-yearly report card that any economic recovery will be slow, and the world financial giant believes that our global economy will constrict by 1.1% in 2009, as reflected in our gross domestic product(GDP). The IMF also predicts that our US economy will shrink by 2.7% for the 2009 fiscal year. Olivier Blanchard, who is the economic counselor for the IMF, told the Associated Press in an interview posted on Yahoo Finance that "the economy is too fragile, and it remains heavily bolstered by big stimulus measures and cheap money." In a remark that may have been directed at US government officials who have claimed that our recession is behind us, Blanchard stressed that any mixed or positive economic data should not fool governments into thinking that the crisis is over. The growing list of negative data worries many investors who are quickly losing their hard-earned wealth.

Investors with concerns over our deepening fiduciary predicament are researching investments in gold bullion and certified gold coins, which could provide a safety net for plummeting portfolios. Physical gold and silver bullion items are highly recommended as a short-term investment due to its liquidity and the fact that it tracks the gold spot price very closely. Certified, rare coin investments are appropriate for long-term investors who purchase for safety. Gold's active spot price is $1004.70, which is a $3.20 per-ounce decline today. 

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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