Certified Gold Prices Posted by James Randolph on June 08, 2009
Traditional Market Movement Continues
June 8, 2009 – Certified gold prices are continuing in their common pattern, falling today as the United States Dollar strengthens and short-term economic worries recede. Gold is currently falling side-by-side with major stock indexes, as the future of the economy and our corporations is still very uncertain amidst this chaotic financial crisis. The majority of today’s market movement is occurring after the Federal Reserve mentioned that they would increase interest rates by the end of the year if the economy recovers, and this is causing many market analysts to believe that a high-inflationary period may lie right around the corner. Fortunately, certified gold prices have thrived during both inflation and deflation, thus wise American investors who seek wealth preservation are diversifying into physical possession metals so that they can sleep easy at night knowing that their hard-earned wealth is protected with one of history’s most preservative assets.
By around 1 PM Eastern Standard Time, certified gold prices are seeing some small declines for the day, yet this may turn around as the week progresses and further economic data becomes released. The gold spot price is currently sitting at $950.30 per ounce, down $4.30 for the trading day yet still up $34.10 in the last 30 trading days. Short-term market projections seem to be mixed, with some market analysts saying that the metal will rebound while others saying that it could test the $930 per ounce benchmark. This being said, don’t forget to keep a close eye on the spot price along with the Dollar Index, which is currently gold’s primary driver.
Senior Staff Writer – Certified Gold Exchange