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Daily Gold Bullion Update

August 14, 2009 – Gold spot prices are decreasing today after making some powerful increases throughout the week, and several market analysts have predicted that safe haven demand for the metal may continue climbing in the short-term as uncertainty with the United States Dollar continues. Many investors from all around the world are seeking shelter from a weakening United States Dollar, and this comes as no surprise especially after the massive overprinting and quantitative easing measures that have put our nation nearly $12 trillion in debt. Fortunately, if the dollar continues to flounder, gold spot prices may rise as they have done in the past during similar economic scenarios. The current spot price of the metal sits at $945.40 per ounce, falling $9.50 for the day, yet still increasing $119.70 in the last year. As you can see, the overall long-term investment potential with gold is quite powerful at the moment, up more than 14% in just one year.

As you may already know, gold spot prices tend to trade inversely with the United States Dollar Index because the majority of investors are turning to either safe haven precious metal markets or riskier dollar-backed markets. To make matters even worse for the dollar, the latest economic data has proven that major economies worldwide are beginning to rebound from this recessionary cycle, while the United States in particular seems to remain in its current hole. This could end up threatening dollar-backed assets down the road, and fortunately gold spot prices tend to thrive during unstable economic times.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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