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Daily Gold Bullion Update

July 31, 2009 – Gold bullion projections have been increasingly bullish since the beginning of the year as several market analysts predicted that 2009 would be a powerful year for the safe haven metal as more and more wise American investors could continue turning to it as their ultimate protection from our current financial storm. Several of the most bullish gold bullion projections revolved around skyrocketing inflation and a crumbling United States Dollar Index, thus pushing the gold spot price above and beyond its all-time record high of $1033 per ounce, potentially hitting the $1250-$1500 per ounce range. Unfortunately, economic conditions have changed since these gold bullion projections were first made, and it now appears that it may take longer for us to see dangerous inflation in our economy after our government’s latest confidence-building stimulus and bank bailout packages. Many investors don’t understand the severity of the problems that we could face down the road once there is no more money that can be spent on preventing an economic collapse. Fortunately, gold has proven its ability to thrive during similar economic environments, thus this may be an excellent opportunity for Americans to jump on the bandwagon before it’s too late.

During the midday trading hours, the gold bullion spot price has officially extended its gains for the second consecutive trading session as safe haven demand in the United States is slowly but surely beginning to pick up once again, thus the higher demand has pushed the spot price to $948.90 per ounce, jumping up $15.20 for the day and also jumping up $43.80 in the last year.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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