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December 17 - Daily Gold Bullion Update

December 17, 2008 - Gold bullion is currently trading at $866.70 per ounce on the COMEX. The dollar continues to decline and investors around the United States are finally realizing that gold bullion may be the ultimate alternative investment. If you go to Kitco.com, they’ve got daily charts to check spot prices. What I like is that they also have some charts right below the daily spot showing bullion over the course of a month, two months, six months, a year, five years, and a decade. That really puts things in perspective. If you look over the last month, we saw a jump after a low period, but if you look at the last two months, we’re noticeably lower than where we started. When you look at six months, we’re lower, but if you look at a year, we’re just a bit higher, after a few strong peaks.

The ten-year chart is where I really get to put on my best smile, though. We started at $300 at this time in 1998, hit a real low in the early 21st Century, and then tripled the value of gold in ten years. Incredible. I guess this goes to show, a crash might just be the best time to buy some gold coins and bars. Ten years ago, if you’d spent the price of four new tires on gold, instead, you’d have six hundred more dollars today than you did then… It’s a good thing you bought the tires, of course, I’m just saying hypothetically.

I remember I had a friend at the time that looked at how low gold bullion was, and he took it upon himself to buy bars from everyone he could. At the time, everyone told him he was just throwing money away. I’ve lost touch with him, but I bet he’s sitting pretty right about now. That’s a man with a mind for investment. The future for gold bullion looks positive for 2009 so it should definitely be an exciting year for metals investors around the United States. The fact remains, though, that gold bullion is higher today than it was ten years ago.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange

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