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Daily Gold Bullion Update

March 5, 2009 – Gold bullion forecasts are being raised once again by several financial institutions nationwide as the outlook for physical possession precious metals is increasing on speculation that safe haven investments could thrive during 2009. Today, investors are witnessing the metal rebound after an eight-day straight loss that concluded its longest losing streak since June 2006. This is mostly happening because of instability in stock markets and further weakening economic news about the state of the financial crisis. Things are getting a lot worse than people expected and these growing fears are being reflected on the latest gold bullion forecasts that are without a doubt looking more bullish than ever before. There are even some short-term projections saying that the current rebound could result in the metal surpassing its record high of $1033 per ounce, but we’ll just have to wait and see about that.

Gold bullion bars and coins are moving back in the upward direction again as the spot price of the metal climbs to $922 per ounce, an increase of $17 for the trading day and also an increase of $18.10 for the last 30 days. The latest news with gold bullion forecasts have been made by Merrill Lynch who has just recently raised their 2009 projection from $875 per ounce to $1000 per ounce as a result of a significantly higher demand for safe haven precious metals. They’re not the only ones, and the heightened fear with mainstream investments is quickly changing many people’s minds about the future of gold.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Gold-Bullion.org

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