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Daily Gold Bullion Update

April 13, 2009 – The values of gold bullion bars and coins are increasing today as investors around the world began to seek store of wealth assets yet again based on speculation that the upcoming corporate earnings will be much lower than expected. Today we’re seeing precious metal spot prices rebounding while equities are slumping, and the Standard & Poor’s 500 Index alone has fallen about 1.3% so far. American investors are eagerly awaiting the earnings reports from major financial companies such as Citigroup, Goldman Sachs Group and J.P. Morgan Chase & Co. These first-quarter earnings reports may be the main drivers for short-term fluctuation with gold bullion bars and coins as well as equities and other commodities. In other news, the United States Dollar falls versus the Euro, which has caused significant safe haven buying by investors who want to preserve their long-term spending power. Fortunately, they’re fining the preservation they seek by diversifying into gold bullion bars and coins as well as certified rare coins that historically thrive during similar times.

During the midday trading hours, the spot price of gold is rebounding after seeing some sharp losses last week, and it currently sits at around $894.40 per ounce, an increase of $15.20 for the trading session yet a decrease of $35 in the last 30 trading sessions. There’s a lot of speculation saying that the upcoming negative economic data could be very beneficial for spot prices as wise Americans begin to flock to assets that run adversely to a weakening fiat currency.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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