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January 14 - Daily Gold Bullion Update

January 14, 2009 – Gold bullion retirement accounts rebound today as the gold spot price starts to climb back up despite the strengthening United States dollar and falling commodity prices. It’s obvious that today’s price increase is being led by investors taking the opportunity to get into the market while prices are low with the possibility of increasing to significantly higher levels in the near future. After yesterday’s fluctuation, gold bullion retirement accounts were sitting at around $813 per ounce and today alone they have come up .63% due to an overnight streak of buying that also raised other precious metal values as well. This is considered the bargain hunting time as yesterday we saw gold’s one-month low and investors certainly took the opportunity while they could.

Gold is trading at around $825.10 per ounce, up $5.20 for the day and up $3.10 for the month. Current projections for the spot price along with gold bullion retirement accounts continue to remain in the $900-$1200 per ounce within the next several months and some projections even say that we could see even higher spot prices depending on whether or not the economy gets better or worse after the projected $775 billion stimulus plan that is being prepared by President elect Barack Obama. For the last several days, the spot price has been directly affected by the strength of the United States Dollar but today we saw some odd increases in both the currency and the metal as investors regain a bit of faith in the Dollar while maintaining and increasing their gold safe haven plan. Let’s hope things keep on getting better. Have a great day!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange

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