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Daily Gold Bullion Update

March 3, 2009 – Engelhard bullion bars have reduced in value about 9% since gold reached $1000 per ounce two weeks ago, making it the longest downfall since October. There are many external factors occurring in the market right now that are making financial markets fluctuate a bit out of tune. For example, the Standard & Poor’s 500 index has risen about 1.5% today after tumbling to prices not seen since 1986 on fears that the American economy was in shambles. The Dow Jones also gained 1.3% after falling to its 11-year low yesterday. Gold bullion such as Engelhard bullion bars and certified rare coin such as the $20 Saint-Gaudens are expected to outperform the majority of investments during 2009 as a result of too much fluctuation with mainstream investments. Times like these have proven to be ideal to own precious metals, and safe haven demand could increase exponentially in the upcoming months as the economy worsens.

Engelhard bullion bars are falling today with the daily market spot price that is currently at $915.20 per ounce, down $10.20 for the day and also down $11.90 for the month. Many wise investors are keeping their eye on the value of the United States Dollar, as it could be the ultimate factor that may move the prices of gold in the near future. The metal has already proven its ability to thrive during both deflationary and inflationary environments, so all we can really do is wait and see what 2009 has in store for us.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Gold-Bullion.org

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