Posted by Adam King on April 28, 2009
April 28, 2009 – The latest news from the health sector has several investors very worried about the future of financial markets, and this has caused many of them to diversify out of gold and certified coins, and into the United States Dollar that just so happens to be appreciating at the moment. The World Health Organization has officially raised its global pandemic alert to the highest since 2005, and they have said that the swine flu is not containable. This has significantly halted international travel into the United States and Mexico, which in turn has lower the overall demand for crude oil. These crude oil prices have fallen below $49 per barrel and as a result, the value of gold and certified coins has fallen as well because historically, both commodities trade side-by-side. It is highly recommended that investors keep a close eye on any new developments in the health sector in order to project what may happen to financial markets in the near future.
By around 10:20 AM Eastern Standard Time, it appears that there is slightly lower demand for certified coins as American investors begin purchasing United States Dollars that may lose value down the road as a result of inflation. This has lowered the gold spot price down to $889.70 per ounce, dropping $16.50 for the trading day and also dropping $33.40 in the last 30 trading days. Short-term projections continue looking bullish for May, and the majority of them are saying that $940 per ounce could be seen depending on the economic scenario.
Senior Staff Writer – Certified Gold Exchange
US Gold Market