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Daily Gold Bullion Update

June 15, 2009 – Gold bullion projections are still looking positive despite today’s optimism with the United States dollar, especially since short-term rallies with the fiat currency are nothing compared to the long-term problems that we may face as a result of our excessive lending and overprinting of dollars. Rising US budget deficit is also a large concern to many investors at the moment who are invested in dollar-backed assets because as the deficit gap widens and national debt soars, we dig ourselves deeper and deeper into a hole that we may not be able to get out of anytime soon. To make matters even worse, the Federal Reserve has mentioned that the economic recession is coming to an end, yet who is truly going to believe that with unemployment nearing 10% nationwide and corporations going belly up at a dangerous rate. The latest short-term gold bullion projections seem to be closely connected to the overall strength of the United States Dollar, some saying that the metal could rebound significantly within the next few weeks if the fiat currency flounders, while others saying that spot prices could fall below $900 per ounce before significant momentum pushes the metal up again.

By around 12:30 PM Eastern Standard Time, the gold bullion spot price is headed lower, currently trading at $938.70 per ounce, falling 1.66% for the trading day, yet still climbing 1.36% in the last 30 trading days. Keep a close eye on the latest gold bullion projections, because at least one of them is bound to head in the right direction.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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