Buy Gold Bars Posted by James Randolph on June 04, 2009
The Elite Tug-Of-War
June 4, 2009 – The elite game of tug-of-war continues as some investors are deciding to buy stocks and bonds with hopes that the economy may recover while others are deciding to buy gold bars and coins as their ultimate hedge from a floundering economy. Wise American investors typically buy gold bars and coins as a hedge from weakening fiat currencies and mainstream investment markets, and today the United States Dollar in particular is extending its losses based on inflationary fears that are creating speculation that the fiat currency could face devaluation in the near future. This is nothing to be surprised about, especially since the United States Government and Federal Reserve have nearly done everything in their power in order to create a long-term high-inflationary period. Don’t let short-term market fluctuation fool you, because it’s the long-term problems that you should really be preparing for if you truly want to protect our hard-earned wealth.
During the midday trading hours, more American investors are deciding to buy gold bars and coins as the dollar flounders, and this sudden boost in safe haven demand has created a significant jump in the daily market spot price that currently sits at $979.10 per ounce, up $16.50 for the day and also up $83.20 in the last month. Since the beginning of May, the spot price has increased about 10% while the United States Dollar Index has fallen 7%, thus we should keep a very close eye on the Dollar Index in order to determine the short-term future of gold.
Senior Staff Writer – Certified Gold Exchange