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December 29 - Daily Gold Bullion Update

December 29, 2008 – Gold bullion saw some solid jumps today and the metal is on its way to its eighth consecutive yearly gain. Gold bullion’s 11-week high is sitting at around $879 per ounce on the COMEX spot prices charts, making it a $10.40 increase for the day, a $73 increase in the last 30 days and a $53 increase in the last 365 days, not bad considering that most investments are on a down slope right now. Current expert predictions are saying that $930 per ounce is very possible in the next week or two if further escalation continues over in the Middle East. As Israel places tanks all around the Gaza Strip and activates their military reservists, worldwide investors are taking the opportunity to profit from future potential spikes.

The United States dollar continues to fall versus other currencies and the UK Pound recently hit its record low versus the Euro. The Russian Ruble also continues to plummet to record lows. As we all know, it’s historically proven that gold bullion rises in price when major currencies start declining, so this may just be an excellent time to get into precious metals for both security and profit during difficult times for many. As the global economy remains in unrest, we could see many problems and gold bullion as well as other precious metals could be an excellent way to combat these problems. Have a great day and don’t forget to invest intelligently!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange

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