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Daily Gold Bullion Update

April 28, 2009 – Pamp Suisse bullion bars along with the most popular gold bullion products are losing some value today based on increasing concerns that the swine flu outbreak may delay the global economic recovery. The metal is seeing its sharpest drop in over three weeks on the NYMEX as American investors begin shifting funds away from precious metals and crude oil in exchange for United States Dollars. For some reason or another, several investors believe that they will be safe by owning dollars during this pandemic scare, and what they do not understand is that our fiat currency may come under some serious pressure in the near future as a result of growing inflation that may be apparent in our economy for quite a while. In other news, India has reported weaker gold demand during their Akshaya Tritya Festival that was projected to significantly increase the short-term value of Pamp Suisse bullion bars and other bullion products due to higher jewelry purchases that were not seen.

By around 11 AM Eastern Standard Time, Pamp Suisse bullion bars are losing value side-by-side with the daily market spot price of gold that is currently at around $890.70 per ounce, falling $15.50 or 1.71% for the day and also falling $2.50 or .28% in the last year. Short-term market projections are expecting spot prices to continue showing an inverse correlation with the United States Dollar, so it is recommended that investors track the Dollar index in order to better understand the market during these troubled economic times.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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