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December 19 - Daily Gold Bullion Update

December 19, 2008 - gold bullion investors experienced a slight drop in price today as holiday buying eases a bit but it’s still set to end at around $850 per ounce. Gold bullion is currently trading at $837.10 per ounce, a $16 drop for the session but still a 13.91% in the last 30 trading days and 4.49% in the last 365 trading days. Projections for 2009 are positive and experts are saying that after the holiday season investment gold bullion purchasing will increase in demand.

Oil prices continue to plummet and this may just imply a future scarcity, down to $34 per barrel, which is something we have not seen since 2003. Stocks also fell a bit; the Dow was at 8589 points, a 15-point drop for the session so far. American citizens are awaiting a stimulus plan from Pres. elect Barack Obama which is estimated to be around $675 billion to $775 billion over a two-year period. The Dollar gains against the Euro and other currencies as central banks around the world further cut their deposit rates and lift lending rates in hope of restoring immediate faith in the buying markets. This looks to be a futile attempt as not much result has occurred from these cuts. Unemployment levels get a slight bit better this week but still 4,384,000 Americans remain jobless during the holiday season. Certainly been a tough year for everybody, which is why purchasing now to protect from the future is a wise idea. Have a beautiful weekend and invest intelligently!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange

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