Certified Gold Projections Posted by James Randolph on August 04, 2009
Gold Hits 2-Month High
August 4, 2009 – Certified gold projections continue looking bullish as the spot price of the metal is further extending its gains, now approaching $970 per ounce as safe haven demand is slowly but surely beginning to pick up in the United States. A multitude of different economic factors are supporting gold at the moment, especially the weaker United States Dollar, higher physical demands and fresh buying as the latest certified gold projections have forecasted that spot prices could climb up to $1000 per ounce in the short-term. According to these certified gold projections, the latest speculation of an economic recovery is causing investors to steer clear from dollar-backed assets, and this comes as no surprise especially since inflation in particular could be a major problem down the road. Even government officials have openly admitted that inflation will be a necessary part of our economic recovery, thus it only makes sense that wise investors are purchasing gold in order to protect their hard-earned wealth from devaluing fiat currencies. All eyes are currently on the United States Federal Reserve and their decision to increase interest rates, because if they do it too early, we may see the ideal economic environment for higher inflation, which in turn may lead to higher spot prices.
By 12:45 PM Eastern Standard Time, several certified gold prices are up to two-month highs as the United States Dollar trades near a ten-month low, thus today’s higher safe haven demand has pushed the gold spot price to $966.60 per ounce, increasing $10.10 for the day and also increasing $34.80 in the last month.
Senior Staff Writer – Certified Gold Exchange