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Daily Gold Bullion Update

August 11, 2009 –The majority of gold bullion forecasts have been impressively bullish in the past few years as more and more market analysts believe that safe haven precious metal markets could thrive during the worst financial crisis the United States has seen since the Great Depression. As far as the short-term gold bullion forecasts are concerned, several market analysts believe that the spot price of the metal may fluctuate between $940 per ounce and $985 per ounce unless the United States Dollar Index makes significant fluctuation. As you may already know, the fiat currency has been the primary driver of spot prices in the past few months, thus it’s very important that we track the Dollar Index in order to maximize the effectiveness of our safe haven precious metal diversifications. The current gold bullion spot price sits at $945.90 per ounce, increasing $.50 for the day and also increasing $33.10 in the last month.

As far as the long-term gold bullion forecasts are concerned, there seems to be mixed sentiment coming from an array of different market analysts. Some market analysts believe that an economic recovery is underway, thus they have forecasted that spot prices may continue to tumble within the next few years. On the contrary, other market analysts believe that even if an unlikely economic recovery does occur, spot prices may continue to thrive as a result of growing inflation, potentially reaching $1500 per ounce or higher. Just a few months ago, the United States Government themselves mentioned that inflation would be a vital part of our economic recovery, thus anything could happen within the next few years.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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