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Daily Gold Bullion Update

June 10, 2009 – Gold bullion demand is taking a very small step back today, yet many wise American investors are still purchasing products like the Johnson Matthey bullion bars after the latest short-term market forecasts have said that spot prices could reach $1300 per ounce before the end of the summer. The Johnson Matthey bullion bars are a popular choice to investors at the moment because they hold a very low premium above the spot price of gold, unlike the more expensive, yet more visually appealing Pamp Suisse bullion bars. Typically, investors purchase bullion bars as a wealth preservation investment, but it appears that lately more and more investors are using them as a short-term profit-taking tool because they can be purchased and sold quickly in order to make instant profit if the gold spot price increases. Now could be a good time to begin a bullion investment, especially since spot prices have contracted in the past few days, creating a bargain-hunting opportunity for many short-term investors.

By around 1 PM Eastern Standard Time, Johnson Matthey bullion bars and other popular bullion products like the American Eagles are losing a bit of their value today as the spot price is falling slightly after some increases that were seen earlier in the day. The spot price is sitting at $951.90 per ounce, moving down .28% for the day yet still moving up 3.90% in the last month. The latest short-term forecasts have been increasingly bullish, and some market analysts are even saying that the metal could breach its all-time record high before the end of the month.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer - Gold-Bullion.org

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