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Daily Gold Bullion Update

April 21, 2009 – The majority of mainstream financial markets are continuing to see unstable fluctuation, and several stock indexes are increasing in value after slumping yesterday, yet gold bullion coins are still in high demand because many wise investors understand that the United States financial crisis is nowhere near its end. Yesterday, the metal increased in value about 2% while most stock indexes fell between 2% and 3%. Today, both assets are moving in opposite directions with stock indexes increasing and the value of gold bullion coins decreasing, but several market analysts believe that strength with equities will not sustain because the overall negative sentiment with the future of the United States economy. Governments around the world have been pumping billions of dollars into their economies, and this is devaluing their currencies in the long-term, thus wise investors want to hedge themselves from both inflationary and deflationary pressures by making the appropriate diversification into precious metals.

During the midday trading hours, it appears that gold bullion coins are losing a bit of their value, yet losses are limited due to increasing long-term safe haven demand, and the metal is currently trading at $883.20 per ounce, decreasing $1.60 or .18% for the day and also decreasing $34.60 or 3.77% in the last year. Bullion projections continue looking bullish, and this week may see some decent gains as a direct result of large bargain hunting in India for one of the nation’s biggest festivals. The average projection lies at around $900 per ounce by week’s end.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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