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Daily Gold Bullion Update

March 24, 2009 - Wise American investors looking for safe investments are beginning to shift their hard-earned wealth into precious metals, because historically they have the ability to thrive during these difficult economic times. In the past eight years, mutual backed retirement accounts have lost nearly half of their value, which means billions of dollars lost in total. On the other hand, safe investments such as gold have increased in value more than 300% since it was trading at around $250 per ounce in 2001. Financial markets in general have flipped upside down and today we’re seeing similar frenzied fluctuation that all comes down to confidence in the United States economy, which just so happens to be lower than ever at the moment. Investors simply don’t know what to do with their hard-earned wealth during this financial crisis, but fortunately they can turn to companies such as the Certified Gold Exchange that can assist them in the transfer of equity or bond backed accounts into potentially safe investments with gold bars and coins.

Today gold is seeing losses for the third day in a row, yet this is not expected to last for too long especially since the market has already experienced sudden fluctuation in the blink of an eye the moment that negative economic data becomes released. Currently the spot price of the metal sits at around $923.80 per ounce, dropping $14.40 for the day and also dropping $69.40 for the month. Short-term projections are expecting a rebound by the end of the week, so taking advantage of the currently low prices could be a great way to profit a little bit more during this weekly cycle.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer – Gold-Bullion.org

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