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December 18 - Daily Gold Bullion Update

December 18, 2008 - Gold bullion investors prepare to end the year off with an asset that is on its eighth straight yearly gain. Since 2001 gold has risen over 300%, something unseen in mainstream investments lately. Even yesterday’s $883.60 per ounce was the highest spot price we’ve seen since October 10th. Expert projections are saying that 2009 will be a solid year for gold bullion because our current financial crisis and massive 10 trillion dollar debt may catch up to us. $900 per ounce is very likely in early 2009 and depending on the outcome of future bailouts, we could even see $1000+ by late 2009 to early 2010. T

he United States dollar continues to fall on the currencies index while losing value to the euro in Japanese yen. Many are suggesting that the USD may restore some lost ground by mid next year, but others are arguing that the lost ground may not be recovered for several years as the United States continues to fall into a deeper recession. Our big three automakers as well as Japan’s big three are closing down more factories than ever before in an act of preserving the little that they have. They have been hugely affected by oil’s slump in price, falling to $39 per barrel and market analysts are saying that it could go down much more. With all this havoc in the mainstream, it’s very important to be prepared for the worst with a well-diversified portfolio of gold bullion. Have an excellent day and invest well!

Daily Update Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange

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