Certified Bullion Posted by James Randolph on March 12, 2009
March 12, 2009 – Certified bullion as well as rare coins are increasing in value once again for the second day in a row as the latest flock to precious metals is attracting more demand from a wide array of investors. On the contrary, The United States Dollar along with equities are losing value due to the fact that investors are seeking safe haven assets instead of unstable ones that are being hammered by the current financial crisis. Some of the latest news emerging in the market speaks of weak speculators that were holding the metal back from surpassing its all-time record high. It is predicted that now prices could rebound to $950 per ounce by tomorrow and possibly breaching the $1000 per ounce benchmark by early next week with the possibility of surpassing the record high of $1033 per ounce. It seems like a large amount of the movement that could be seen in next few weeks will be directly connected to action in fiat currencies along with stocks, so keep your eyes on those two markets in order to possibly maximize the potential of a certified bullion investment at the moment.
Today certified bullion is benefiting from the most recent rally, and the spot price currently sits at $924.90 per ounce, up $17 or 1.87% for the trading day and also up $9.60 or 1.05% in the last 30 trading days. In a recent report released by Merrill Lynch, they said that the metal has increased risk as a short-term investment due to fluctuations in the market yet it is still an ideal long-term diversification asset that will most likely hang on well to its value.
Senior Staff Writer – Certified Gold Exchange