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Daily Gold Bullion Update

April 27, 2009 – Investment demand for Credit Suisse bullion bars and other popular bullion products is decreasing slightly today based on turmoil with the global economy, and of course the latest health scare that has many investors running for the hills. The MSCI World Index of stocks has fallen about .8% after a seven-week rally, also due to concerns that the swine flu may slow economic recovery. Despite the recent market actions, the overall long-term investment demand along with the increasing Chinese and Indian demand is creating powerful momentum for spot prices in the near future. In the event that mainstream financial markets continue to flounder, there is a high possibility that Credit Suisse bullion bars may increase in value because historically, gold acts as a safe haven from many different external factors.

By around 10:50 AM Eastern Standard Time, it appears like Credit Suisse bullion bars along with American Eagles and Canadian Maple Leafs are showing small signs of losses mostly due to the global economic uncertainty, still the gold spot price sits at $908.10 per ounce, a decrease of .54% for the trading day, a decrease of 1.62% in the last 30 trading days and an increase of 2.49% in the last 365 trading days. Short-term bullion projections are expecting the market to face resistance around the $932 per ounce benchmark, and if it surpasses that point we may just see $960 per ounce and higher in the near future depending on the overall strength of mainstream financial markets.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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