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Daily Gold Bullion Update

May 4, 2009 – IRA investors who own gold bullion retirement accounts may be happy to know that their nest egg has increased in value about 2% today as the United States Dollar tumbles and increasing economic uncertainties create sudden safe haven demand. The week is starting off with some odd market fluctuation as precious metals strengthen side-by-side with global stock indexes. This type of fluctuation is not commonly seen, and it basically reflects equilibrium between safe haven investors and risk-taking investors. Several market analysts believe that the correlation between the United States Dollar, stocks and gold will continue as the recessionary cycle progresses. In other news, higher physical reserve demand from China is also supporting a higher spot price, which is beneficial for the investors of both physical possession bullion and gold bullion retirement accounts.

By around 12 PM Eastern Standard Time, the Certified Gold Exchange is reporting higher investment demand for physical delivery and gold bullion retirement accounts due to a significantly higher spot price that currently trades at $902.60 per ounce, jumping up 1.9% for the day and also jumping up .98% in the last month. Short-term market projections are saying that the United States Dollar and its equities must weaken significantly in order for the spot price to climb up to its projected $1200 per ounce. This being said, it would be wise to keep a close eye on currency indexes as well as equity indexes because they may set the foundation for positive fluctuation in the near future.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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