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Daily Gold Bullion Update

May 7, 2009 – Gold bullion price projections have been bullish for quite some time now due to many precious metal market analysts forecasting that inflationary pressures and failing corporations will continue to drive wise investors into safe haven assets. Today the metal has climbed to the highest in over a month as was forecasted in several of April’s gold bullion price projections. It appears like there is some growing speculation saying that the government bank stress tests will be released much worse than expected. This speculation seems to be creating short-term safe haven demand that is definitely noticeable by taking a close look at the daily market spot price and its correlation to other financial markets at the moment. A very interesting correlation to note is the strengthening United States Dollar and increasing precious metal spot prices that usually trade in inverse directions. This basically means that safe haven demand is taking prominence while risk-taking demand fades away, thus the lower stock indexes.

By around 12:40 PM Eastern Standard Time, the gold bullion spot price is showing moderate increases for the fourth consecutive session, currently trading at around $915.40 per ounce, jumping up .48% for the trading day and also jumping up 5.49% in the last 365 trading days. One of the most interesting gold bullion price projections is saying that the spot price could surpass its all-time record high this month based on unsatisfactory results from government bank stress tests and significant long-term inflationary fears that signal a major vulnerability in our economic structure.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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