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Daily Gold Bullion Update

March 2, 2009 – Gold bullion coins are starting to rebound in price today after seeing some pretty sharp losses last week as a result of the usual short-term selling that occurs after a rally to save haven investments. The metal is climbing today for the first time in six sessions due to equities continuing their downward motion based on increased speculation that the economy is worse than we expected. Gold bullion coins increased in value about 1.5% last month while the Standard & Poor’s index fell about 11%, an impressive difference to note when considering a particular investment at the moment. The instability with equities have resulted in an overall lower confidence in the United States economy and its corporations, thus the demand for safe haven assets could increase substantially in the upcoming months as investors begin to stray away from assets tied to the United States Dollar.

Gold bullion coins are benefiting from the small rally today, and the spot price of the metal has moved up to $943.70 per ounce, which is an increase of $4.10 for the day and also an increase of $16.60 for the month. Several market analysts believe that a major devaluation of fiat currencies will begin this year, thus it is probably a good idea to invest in precious metals since they have the potential to increase in value during these types of economic environments. I wish you the best of luck when investing.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Gold-Bullion.org

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