Posted by Adam King on May 05, 2009
Bank Worries Escalate
May 5, 2009 – As if the inflationary and deflationary pressures weren’t enough, it appears that 10 out of 19 major United States banks are not prepared for a deeper recessionary cycle that we may face in the near future, which could mean disaster down the road for investors who have significant portions of their wealth in major banks and financial institutions. Many market analysts believe that darker days lay ahead for the United States economy, thus we’re seeing more bullish certified gold projections as the forecasts for the popular certified $20 Saint-Gaudens and $20 Lady Liberty are increasing yet again. Masses of American investors are eagerly awaiting the results of the upcoming government bank stress test that may signal a major vulnerability in the United States economy. Fortunately, wise investors are looking towards the latest certified gold projections and beginning an adequate diversification before the dollar and stock markets fail any further.
By around 11:20 AM Eastern Standard Time, the daily market spot price of gold is increasing a bit, yet it is experiencing some slight resistance due to short-term profit-taking, and the metal is currently trading at around $903.80 per ounce, up $.60 or .07% for the trading day and also up $29.80 or 3.41% in the last 365 trading days. Short-term certified gold projections are saying that spot prices need to surpass the resistance level of $915 per ounce before they can begin significant rallies up to $950 per ounce and possibly even the all-time record high of $1033 per ounce by mid-summer.
Senior Staff Writer – Certified Gold Exchange
US Gold Market