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Daily Gold Bullion Update

July 13, 2009 – When looking to make an investment in gold, it’s very important that you understand how gold bullion weight works in order to maximize your short-term potential with this profit-taking asset. The most popular gold bullion weight in the world is 1-ounce because it has long been seen as one of the easiest ways to track pricing on a day-to-day basis, especially since daily spot prices on the New York Mercantile Exchange are based around 1-ounce denomination gold products. Bars and coins with higher gold bullion weight usually hold lower premiums than those with less gold bullion weight because smaller pieces are not as popular and harder to create, thus the companies that produce them charge a bit more for these reduced size denominations. When looking to begin an investment in gold bullion, it is very important that you consider this small factor because if you’re making a larger household or institutional purchase, it may benefit you to stick with 1-ounce coinages due to their significantly lower premiums.

By 1:20 PM Eastern Standard Time, the gold bullion spot price has rebounded on the New York Mercantile Exchange as safe haven demand in the United States is slowly but surely increasing amidst this unstable economy, thus the higher demand has pushed the metal to $920 per ounce, up .76% for the trading day, yet down 1.96% in the last 30 trading days. Short-term forecasts are expecting a weaker United States Dollar this week, thus we could see spot prices continuing to increase as safe haven demand sparks.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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