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Daily Gold Bullion Update

May 14, 2009 – Gold bullion bar prices are dependent on the gold bullion spot price as well as the small mining and production premium that is applied by the respective producer of the bar. Some of the most popular producers of these bars are Johnson Matthey, Pamp Suisse and Credit Suisse. Today these gold bullion bar prices are continuing their upward streak as more and more wise investors are beginning to seek the profit and preservation potential of safe haven precious metals during this worsening financial crisis. In other news, the United States Dollar is continuing its slump based on inflationary fears that could grow substantially in the near future. Historically, safe haven metals act as a safety mechanism and hedge from inflation, and this is precisely why investors are flocking to the market. The overall uncertainty about the future of the United States financial crisis is not looking good, and it appears like many market analysts and big-time investors feel that darker days loom right around the corner.

By around 2 PM Eastern Standard Time, gold bullion bar prices are increasing while at the same time shoving off any external economic factors that may decrease prices, and the metal currently sits at $927.30 per ounce, jumping up .13% for the trading day and also jumping up 4.27% in the last 30 trading days. Technical market indicators are showing that current spot prices may gain momentum to push into the $970 per ounce benchmark range, so keep a close eye on the market in the event that a short-term profit-taking opportunity emerges.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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