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Daily Gold Bullion Update

October 22, 2009 - Some investors decided to buy gold today, after the dollar index dropped 0.5% against the euro and the yen. After two weeks of strong gains, gold has remained relatively flat this week, and today's spot price is down 0.56%. The current gold spot price listed on the Commodities Exchange(COMEX) is $1056.20, so investors who buy gold bullion today would save 1.4% from gold's historic high of $1071 per ounce. Gold is not the only commodity that has been gaining in value recently. Silver, oil, sugar, and other natural resources have posted significant gains within the last two weeks, mainly due to the faltering value of the US dollar and the worldwide outcry against the use of this currency for global trade. Gold bullion, however, is a debt-free asset that can be stored privately, which many investors prefer to do. Pool accounts and commodity stocks have become somewhat popular during the last few years, but the most recent trend dictates that investors take physical delievry of their investments for optimal safety. If our dollar continues to lose value in the eyes of the international community, stateside investors will most likely continue to increase their gold bullion holdings. There are a wide variety of gold bullion products, and American investors have traditionally utilized their various options.

Gold bullion bars are the most affordable way to purchase COMEX approved gold bullion. Bullion bars vary from one gram to 1000 ounces, and they carry a low premium over the gold spot price. Gold bullion rounds and coins are available from a number of financial institutions and mints, and these investments come in a variety of denominations as well. Some investors appreciate the fact that gold coins produced by the US Mint are legal tender, but investors can be assured that all physical gold bullion products carry value in the eyes of our government. That was proven in 1933, when President Franklin Roosevelt confiscated all gold bullion from American citizens to back up our greenback. Collectible coins were exempt from Roosevelt's decree, and they would most likely be exempt in any future bullion confiscations by our Administration. While modern-day gold bullion does not qualify as a collectible, investment-grade rare coins are available for individuals who would like to own non-confiscatabale gold. Visit www.Rare-Coin.org for more information, or contact a reputable gold exchange that trades bullion and rare coin products. 

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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