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Daily Gold Bullion Update

May 22, 2009 – Gold bullion investment demand has increased 39% since the beginning of the year, and the latest market forecasts are saying that inflationary pressures and instability with mainstream financial markets may cause significantly higher demand for the metal as investors begin to flock away from stocks, bonds and real estate into physical possession bullion bars and coins. This significantly higher gold bullion investment demand has pushed the spot price of the metal beyond the $960 per ounce resistance level today, and this marks a two-month high as the United States Dollar has currently fallen to a four month low versus the Euro. Most of this market movement is occurring based on concerns about the United States AAA credit rating that is expected to deteriorate in the near future based on decades of relentless lending with very few paying back their debt. Speaking about debt, the United States debt is currently approaching the $12 trillion mark, which is a massive number that even the most speculative market projections would not have forecasted eight years ago.

By around 12:30 PM Eastern Standard Time, physical possession gold bullion investment demand has pushed the daily market spot price up to a two-month high with expectations that this rally may extend as the economy does not seem to be getting any better. The gold bullion spot price currently sits at around $958.20 per ounce, spiking up .47% for the day and also spiking up 7.60% in the last month. Investors are recommended to keep a close eye on movement with the United States Dollar because any further negative fluctuation may continue pushing the spot price closer to its all-time record high.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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