Posted by Adam King on April 27, 2009
Swine Flu And Human Calamity
April 27, 2009 – Certified gold prices are taking a small step back today as an array of external factors begin to influence financial markets worldwide. One of the most interesting external factors seems to be the emerging swine flu, which has already killed more than 100 people in Mexico and the United States. Bloomberg.com has reported that although there is no direct impact from this pandemic, it may have a psychological impact on investors who feel that all is well. In other news, the World Bank and the International Monetary Fund have declared that the global financial crisis is showing signs of turning into a “human calamity.” This basically means that large-scale poverty and possibly even an economic collapse may be imminent unless we do something drastic as of now to prevent this downfall. Wise American investors are taking this opportunity to purchase safe haven metals while certified gold prices are considerably lower than projected.
By around 10:20 AM Eastern Standard Time, certified gold prices are remaining stable despite the spot price of the metal falling just a bit to $909.20 per ounce, down $3.80 or .42% for the trading day yet still up $23.10 or 2.61% in the last 365 trading days. The overall long-term physical possession demand for investment grade rare coins and gold bullion is increasing yet again, and short-term projections are expecting the metal to hit $960 per ounce in May. Keep a close eye on spot prices along with any further external factors that may influence the market.
Senior Staff Writer – Certified Gold Exchange
US Gold Market