Posted by Adam King on July 10, 2009
Gold Hits Bargain-Hunting Opportunity
July 10, 2009 – Investing markets have encountered some significant staleness this week as many American investors have been very cautious with their investment decisions, and according to some of the latest gold exchange reports, physical possession buying is on the rise today as the tumbling gold spot price has created a global bargain-hunting opportunity. Historically, wise investors flock to the safe haven metal in order to protect their hard-earned wealth from the vulnerabilities that occur with dollar-backed assets, and with recent speculation saying that dangerous inflation is inevitable in our economy, it’s no surprise that so many wise Americans are flocking to their trusted gold exchange in order to further diversify into one of history’s most preservative assets. According to several leading market analysts, a spot price rebound could be right around the corner, yet the United States Dollar must face further short-term weakness in order to spark significant safe haven demand.
By 12:30 PM Eastern Standard Time, gold exchange rates are fluctuating between losses and gains for the trading session as the tug-of-war continues with buyers and sellers. Currently, the gold spot price is taking a minor step backwards, sitting at $910.50 per ounce, down $1.80 for the day, and also down $43.60 in the last 30 days. Short-term projections are forecasting that a stronger United States Dollar could push spot prices down to $875 per ounce, thus creating an even better bargain-hunting opportunity for profit-seeking investors. This being said, don’t forget to keep a very close eye on the unstable Dollar Index.
Senior Staff Writer – Certified Gold Exchange
US Gold Market