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Daily Gold Bullion Update

June 5, 2009 – The gold bullion Krugerrand is one of the least expensive and most popular bullion coins in the world, and many American investors have been purchasing them since the 1970’s as a hedge from inflation that historically increases in value over time. Today it appears that the price of gold bullion Krugerrand coins is dropping along with the gold bullion spot price as the United States Dollar advances, yet not for long. The latest economic data is showing that the financial crisis is worsening by the day, and just last month, over 345,000 payrolls were cut, bringing the United States unemployment rate to a dangerously high 9.4%. Several market analysts are saying that the United States Dollar will become affected by all of this negativity down the road, thus wise investors are protecting their hard-earned wealth by diversifying into gold bullion that is one of the most preservative assets to own during times of economic distress. Fortunately, coins like the gold bullion Krugerrand are sold at a low premium above the spot price, giving investors a good opportunity to enter the market without having to pay a larger price tag.

By around 3:45 PM Eastern Standard Time, the gold bullion spot price has taken a significant step backwards, yet short-term projections are expecting a rebound next week because the United States Dollar does not have the fundamental strength to sustain a rally. The metal is currently trading at $953.60 per ounce, down $26.80 for the trading day yet still up $75.10 in the last 365 trading days.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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