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Daily Gold Bullion Update

March 23, 2009 - Gold bars are losing some value today due to the latest speculation that the United States economy will recover as a result of the United States Treasury detailing a plan to assist the private sector by buying billions of dollars worth of toxic assets. This speculation has caused stock markets to increase significantly in value for the day, while the value of gold bars drops just a bit yet is experiencing limited losses due to a large amount of risk aversion appetite. So far this year, the metal has increased in value 8.1% while the MSCI Index of stocks has fallen 14%, a significant difference that should definitely be taken into consideration before deciding to make any investment at the moment. Investors are eagerly awaiting similar movement to what we saw last Thursday, when the value of gold bars increased to a six-month high, just hours after the Federal Reserve announced that they would purchase long dated treasuries. Anticipation continues to build as to what will be the best investment to own during 2009.

During the midday trading hours, gold is moving down to around $951.20 per ounce, falling $1.40 or .15% for the trading day yet still making an impressive gain of $32 or 3.48% in the last 365 trading days. Long-term potential for the metal continues to remain extremely bullish, while short-term potential seems a little bit unstable yet still could see some solid gains due to fears in other markets.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer –

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