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Daily Gold Bullion Update

July 10, 2009 – The gold spot price has tumbled this week, yet it is currently recovering from its recent losses, thus it appears that many wise American investors are re-entering the market in order to get the best gold bullion deals as the metal begins to climb. This comes as no surprise, especially since the spot price has fallen more than 2% this week, thus triggering bargain-hunting opportunities for those who seek the best gold bullion prices. Currently, the metal is trading at $913.40 per ounce, up $1.10 or .12% for the session. Short-term forecasts seem to be a bit mixed today, with some market analysts predicting an extended rebound by next week while others predicting an extended contraction.

Investing market in general have experienced a slow week as the G-8 meeting has caused many investors to halt their diversification decisions based on instability with the United States Dollar. According to several leading market analysts, the short-term future of the dollar looks bullish, yet the long-term future could hold some dangerous surprises as excessive currency overprinting could cause high inflation down the road. These long-term inflationary expectations are one of the primary reasons why so many investors are currently seeking the best gold bullion prices, that way they can own an asset that has a historical tendency to increase in value during inflationary economic environments. During a similar recessionary cycle that occurred in the late 1970’s, wise investors flocked to gold as the spot price of the metal increased in value more than 800% in just two years due to skyrocketing inflation and crumbling dollar-backed assets.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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