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Daily Gold Bullion Update

May 12, 2009 – Gold bullion prices are rebounding today after some minor losses that were experienced yesterday based on uncertainty about the future of investing markets, and today it appears like investors are flocking away from the United States Dollar and stocks in exchange for physical possession precious metals. It’s no surprise that gold bullion prices are being directly affected by the strength of the United States Dollar at the moment, and this negative correlation is occurring because historically, the metal trades inversely with our fiat currency. In other news, it appears like several equity indexes are taking a step back after reaching six-month highs yesterday. The Standard & Poor’s 500 Index is up 34% from its March 9 low, and market analysts are expecting this percentage to contract once safe haven demand begins to increase at a rapid pace as wise investors finally realize the potential inflationary and deflationary dangers of our current financial crisis.

By around 11:40 AM Eastern Standard Time, gold bullion prices are seeing moderate gains for the session as safe haven demand is picking up slowly but surely, pushing the spot price of the metal up to $918.70 per ounce, an increase of .59% for the day and also an increase of 3.93% in the last year. The spot price is already up 4.1% this year, and it could rise even higher if the dollar and stock markets begin contracting as a result of a worsening financial crisis. This being said, keep a close eye on spot prices as well as the external economic factors that fluctuate the market on a daily basis.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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