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Daily Gold Bullion Update

August 4, 2009 – In the past decade, millions of American investors have lost massive portions of the hard-earned wealth that was in their nest eggs, and fortunately more and more wise investors have turned to gold bullion retirement accounts as their ultimate protection from the uncertainty that lies ahead in our economy. Today the safe haven demand for gold continues to increase, thus pushing the spot price of the metal up to $968.40 per ounce, increasing $11.90 for the day and also increasing $74.60 in the last year. The latest market projections are forecasting that spot prices may fluctuate around $980 per ounce in the short term unless significant weakness with the United States Dollar creates momentum to push beyond the current resistance levels.

As you may already know, the current financial crisis has left the United States economy in shackles, and if it wasn’t for our massive stimulus and bank bailout packages, we may have faced an economic collapse by now. The latest overprinting of United States Dollars has caused speculation about long-term inflation that could be devastating for dollar-backed assets including stocks, bonds and real estate. This being said, it’s no surprise that so many wise investors are turning to gold bullion retirement accounts in order to protect their hard-earned wealth from the serious problems that could occur down the road. According to several market analysts, safe haven demand for gold bullion retirement accounts could increase significantly within the next few years as inflation and other economic problems expose the vulnerabilities of our economy.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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