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Daily Gold Bullion Update

April 30, 2009 – Pure gold bars like the Johnson Matthey, Credit Suisse and Pamp Suisse are decreasing in value today as the MSCI World Index of stocks climbed to the highest in more than three months based on American speculation that the worst of the financial crisis is over. Risk appetite for stocks and bonds is increasing again, yet many investors do not understand the risks involved with these assets that are directly connected to the inflating United States Dollar. The Federal Reserve has currently decided to continue purchasing toxic assets, and long-term projections are saying that the dollar will be affected by these inflationary actions, which in turn would increase the overall save haven demand for pure gold bullion bars and other popular precious metal products. In other news, the Akshaya Tritya Hindu Festival ended with an 8% decline in bullion sales, down to 45 tons, according to the World Gold Council.

By around 11:20 AM Eastern Standard Time, pure gold bullion bars are showing small contractions after the small rebound that was witnessed yesterday, and this is being caused by a lower spot price that currently sits at $885.40 per ounce, declining $12.90 for the day and also declining $32.60 in the last month. Short-term projections remain bullish, and even though the metal might end the month on a decline, May is expected to see moderate inclines in value as the summer approaches, yet it all depends on the overall strength of global stock indexes as well as the United States Dollar.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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