February 4, 2009 – Gold bullion prices start to move up in value during midday trading as investors scramble to protect their hard-earned wealth from the unfortunate events that are occurring in the economy right now. There’s a lot of nervousness right now with mainstream investments especially with corporations reporting dramatic profit losses and unemployment levels rising to dangerous highs. The ADP job data, which only covers private-sector jobs, reported that 522,000 jobs were cut in January and this Friday another data report from the United States government could show even more. We are quickly nearing the 5 million Americans unemployed mark and by the end of the month I am pretty sure we will be there. As this mayhem continues to weaken the United States economy, investors are finding the comfort they require with precious metals, thus increasing gold bullion prices for the day due to the high demand.
The gold bullion prices are coming up to around $901.90 per ounce, a .14% increase for the trading day and also a 5.8% increase in the last 30 trading days. Projections for bullion continue to look positive and with the possibility of the metal hitting $2000 per ounce by the end of the year, it really doesn’t make any sense to invest in failing corporations at the moment. We’re looking at a potential of more than a 200% increase in value by the end of the year and the metal could certainly live up to the name of "investment of the generation" very soon. Invest well and have a great day.
