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Daily Gold Bullion Update

April 15, 2009 – The latest economic data is showing that United States consumer prices have fallen, and this has caused a short-term suppression of inflationary worries which in turn has limited the appeal for safe haven assets, yet wise investors are still buying gold bullion and certified rare coins in the event that the economy begins to spiral down yet again. The Labor Department has also reported that the consumer prices index fell .1% in March while the United States Government reported that inflation at the wholesale level fell more than expected. All of this economic data is creating speculation that the global recession may be easing, but we need to look at the true long-term effects that may result from our considerably excessive overprinting of dollars. For example, government have spent more than $10 trillion to spur growth in countries such as the United States, Europe and Asia, and several market analysts are expecting dangerously high inflation down the road unless preventative measures are taken as of now to prevent devaluing of fiat currency. This may be the ideal time to begin buying gold bullion since the metal is considered one of the only commodities that increases in value during troubling economic times.

During the midday trading hours, it appears that more American investors are buying gold bullion, and this has pushed the spot price up to $890.90 per ounce, an increase of $1.60 for the trading day yet a decrease of $38.50 in the last 30 trading days. Demand for the metal is expected to increase if further negative economic data becomes released, so keep a close eye on reports from companies such as J.P. Morgan and Citigroup

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer –

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