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Daily Gold Bullion Update

July 23, 2009 – More American investors are turning to gold bullion investing today as the United States Dollar weakens against the Euro, thus boosting interest in safe haven assets like physical possession gold bars and coins. Despite a tumbling Dollar Index, several stocks are seeing significant gains for the trading day after better-than-expected home sales data showed that sales of previously owned homes in the United States rose faster than market analysts projected. Still, this does not mean that a true economic recovery has begun, especially since unemployment continues to skyrocket, currently approaching the dangerous level of 10% nationwide, which typically marks the beginning of a depressionary economy. To make matters even worse, if the Federal Reserve increases interest rates before we see a true economic recovery, we may face a dangerous hyperinflationary economy that could be very beneficial for investors involved with gold bullion investing. The last time that we saw dangerous inflation in our economy was in the late 1970’s when gold bullion investing was put in the spotlight after the metal increased more than 800% in just two years.

According to several market analysts, gold bullion investing will remain a sound safe haven diversification in the near future as our economy begins to climb out of this deep and dark hole. The current gold spot price has risen to $954.60 per ounce, moving up $3.50 for the day, and also moving up $9.70 in the last year. The metal is currently up 8.1% since the beginning of 2009.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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