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Daily Gold Bullion Update

September 9, 2009 - The spot price on COMEX gold climbed above the $1000 mark yesterday for the first time since February of 2009 as gold dealers were swamped with buy requests from investors looking to purchase gold bullion bars. As the floundering United States Dollar causes many investors to flee into the refuge that is the precious metals market, some individuals are deciding to purchase gold bullion bars to hedge their portfolios against inflation.

Some investors are shifting funds away from mainstream investments because of the latest news about the United States' banking crisis, which revealed that over 400 US banks are "troubled." They purchase gold bullion bars because it is an asset that can be owned outright, and it historically thrives during high inflationary times. Gold bullion is not an interest bearing asset, and many investors have come to the conclusion that, given their "druthers", holding physical gold is preferred to gaining interest on cash accounts. If the gold bullion bar market is a path that an investor decides to walk down, purchase gold bullion bars branded by companies such as Johnson-Matthey and Credit Suisse, because they offer a cost effective way to purchase physical gold bullion. Gold bullion bars purchased from a reputable gold dealer offer a lower premium than gold bullion coinage. Since gold bullion items, in both bar and coin form, were historically recalled and confiscated by the United States government to back up the value of the Dollar during the Great Depression, the current trend is to purchase gold bullion bars as a SHORT-term investment vehicle. Certified rare gold coins are usually recommended by brokers only if the investor is looking for a long-term hold with more than the usual attention placed on portfolio safety.

Analysts around the world believe September could possibly be a record month for gold because of its rising safe haven demand, coupled with a flaccid real estate market that is expected to lose another 15% in value nationwide by the end of next year. Gold for September delivery stood at $993.90 in late afternoon trading, with the trading range varying from $986 to $1003 throughout the day. As consumer confidence wanes and China eyes it's options in regard to it's United States Dollar holdings, keep an eye on both the bullion spot price and the PCGS certified rare coin price guide. Many market experts are projecting an end-of-the-year slump for stocks and real estate, so we will just have to sit tight and see what effect this has on gold.

Daily Updates Archive

Jonathan Monroe

Senior Staff Writer -

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