Certified Gold Projections Posted by James Randolph on June 16, 2009
Tumbling Dollar Values
June 16, 2009 – The United States Dollar has taken a significant step backwards today after a powerful rally that was being led by several world leaders mentioning that the fiat currency’s “dominance” as the main reserve currency would most likely continue. Today this “dominance” has nearly gone down the drain, especially since Russia has mentioned that the world needs new reserve currencies, thus the latest short-term certified gold projections have made a change for the better. Several market analysts believed that the gold spot price was going to continue heading in the downward direction, yet after the latest news about the unstable United States Dollar, recently released certified gold projections are forecasting a rebound in spot prices that could test the $1000 per ounce benchmark yet again. This should come as no surprise for any investor at the moment, especially since the United States put itself in this position with relentless lending and excessive overprinting of dollars. Long-term certified gold projections still remain a bit speculative, yet a few of the more interesting ones are saying that spot prices could hit $1500 per ounce by next year.
By around 12:40 PM Eastern Standard Time, the dollar continues to tumble as the gold spot price rebounds to $929.90 per ounce, up $1.90 for the trading day and also up $48.30 in the last 365 trading days. It is highly recommended that you keep a close eye on the Dollar Index within the next few days because any further weakness with the fiat currency could most likely spark significant safe haven demand with precious metals
Senior Staff Writer – Certified Gold Exchange