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Daily Gold Bullion Update

August 3, 2009 – Gold bullion bars and coins are further extending their gains today as the United States Dollar Index continues to contract based on investor uncertainty about the future of this financial crisis. The latest economic data is showing that significant contractions in the United States are slowing down, thus there is speculation arising about an economic recovery occurring sooner than expected. Several market analysts are saying that there could be an acceleration in economic growth within the next few months as a result of the latest stimulus and bank bailout packages finally kicking into overdrive. Gold bullion bars and coins are benefiting from the rebounding economy, and the current spot price of the metal sits at $960.80 per ounce, increasing $6.30 for the day and also increasing $51.10 in the last year.

As you may already know, the United States Government has mentioned that inflation will be a vital factor in our economic recovery, and this comes as no surprise especially after they have overprinted trillions of dollars in such a short amount of time in order to prevent an economic collapse. Inflationary pressures are a lot more significant than market analysts had predicted earlier in the year, and new projections are forecasting that gold bullion bars and coins could increase to $1500 per ounce or higher within the next few years as safe haven demand for the metal continues to shine. The last time that the United States economy saw dangerously high inflation was between 1978 and 1980 when gold bullion bars and coins increased in value more than 800% within those two years as a result of skyrocketing safe haven demand. Will this happen again in our current economy?

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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