Gold Spot Price $1691.2 -2.00    Silver Spot Price $31.77 +0.01    Platinum Spot Price $1545.00 +1.00    Call Our Gold Bullion Hotline at 800-300-0715 For Live Quotes On Gold Coins And Bars - Always Free, Insured Delivery.
Daily Gold Bullion Update

September 16, 2009 - More investors are taking money out of bank accounts and storing funds themselves. While some are reverting to coffee cans and hollowed-out mattresses, more investors are choosing to invest in gold bullion as a way to store a large amount of wealth in a small place. Gold bullion offers instant liquidity, and investors like the fact that gold is, well, gold, as opposed to paper currency that helped the US government build a house of cards over the last few years.

American households historically tend to shift into "cash-saving" mode when economic downturns take place. However, the Federal Reserve confirmed earlier in the week what many American investors already knew: household income is shrinking. American paychecks shrunk an average of 3.6% in 2008, and many economists fear that this could mean another slow holiday season for retailers. US household debt is up as well, meaning that cash-strapped Americans are looking for ways to protect and grow the funds that they have left. The last two years have evaporated a large percentage of wealth in the United States, including an average 35% loss inside retirement accounts. The dive that many portfolios are taking is not the way investors envisioned their hard-earned wealth being used. Gold bullion is often purchased in these situations, because physical possession precious metals are debt-free assets that are owned outright. These are the parameters that many investors are looking to stay within until debt drops and household income grows.

The spot gold price on Wednesday morning stands at $1017.80, which is a $9.60 daily increase. Gold bullion bars and coins are not bought or sold at the spot price, which is based on 1000 ounce COMEX bars before they are melted down into branded bars or minted into coinage. Gold bullion sells by the weight of the product, and bullion items usually carry a premium that is based on and added to the active spot price. Live gold bullion prices are available to financial institutions and private investors are

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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