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Daily Gold Bullion Update

May 29, 2009 – Physical possession demand for safe haven metals is increasing significantly today as investors from around the country are deciding to buy gold bars and coins as their ultimate line of defense from a weakening United States Dollar and floundering equity indexes. Historically, investors buy gold bars when they feel that problems are occurring with their fiat currency and economy, and currently the United States Dollar is sitting at a five month low versus other major currencies while the economy has contracted at a dangerous rate. Several market analysts believe that this is just the beginning of contractions that we may see in the near future as a direct result of excessive overprinting of dollars and floundering corporations. The tug-of-war continues between pessimistic and optimistic investors, as some believe that the economy may recover soon while others feel that we must undergo a high inflationary period before we see a light at the end of the tunnel. No matter what happens with the economy, many financial institutions and bullish market analysts believe that now is the time to buy gold bars and coins before the financial crisis worsens and the spot price of the metal soars toward projected levels.

By around 1 PM Eastern Standard Time, gold bullion bars and coins are seeing considerable gains for the trading session as investors from around the United States are currently flocking to the safe haven metal with hopes of profiting and protecting their hard-earned wealth during these unstable times, thus the spot price has climbed to $976 per ounce, jumping up 1.77% for the day and also jumping up 8.65% in the last month

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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