Gold Bullion Investments Posted by James Randolph on July 01, 2009
Another Day, Another Rebound
July 1, 2009 – The gold spot price is officially rebounding today after two consecutive days of losses based on significant weakness with the United States Dollar and a rally from global investors flocking to gold bullion investments in order to potentially hedge themselves from further losses with dollar-backed assets. Just last week, several top market analysts forecasted that more investors would begin purchasing gold bullion investments this week as a result of fiat currency problems, and that is exactly what we’re seeing today as the Dollar Index loses more than 40 points while the gold spot price climbs up more than 1%. There seems to be many things supporting the spot price at the moment, some of the most notable ones being stabilizing physical demand in Asia and Europe as well as piles of negative economic data that are signalling growing inflation and dangerous unemployment levels. The latest short-term market projections are saying that investors could see the gold spot price climbing to $950-$960 before the end of the week as safe haven demand grows.
During the midday trading hours, it appears that more American investors are turning to gold bullion investments and certified rare coins, thus pushing the spot price of the metal to $937.30 per ounce, an increase of $10.70 for the day, yet a decrease of $2.40 in the last year. The current inverse correlation with the dollar and spot prices continues to strengthen today, so don’t forget to keep a close eye on both investing markets if you seek to maximize your short-term profit potential with gold.
Senior Staff Writer – Certified Gold Exchange