November 13, 2009 – The gold bullion price reacted sharply to last week’s sale of 200 tons of gold from the International Monetary Fund (IMF) to India’s central bank, but the profit-taking that many economists predicted has not been witnessed on a large scale. Instead, safe-haven demand has increased further and the US dollar has continued its slide against a basket of other major currencies.
The current gold bullion price is $1116, which is just below gold’s all-time per-ounce high of $1124. That figure was achieved Thursday, and market analysts say that the sustained demand for privately-held hard assets could mean gold spot prices of $1400 or more in 2010. The gold spot price that is listed on the Commodities Exchange (COMEX) division of the New York Mercantile Exchange (NYMEX) increased by 52.15% within the last 365 days, and gold continues to show strong upside possibility as long as our government and its citizens remain under seemingly insurmountable debt.
Investors purchase gold bullion as a way to escape the fate of dollar-backed assets, which are projected to drop substantially during the next three to five years. Gold bullion prices, which are based on the spot price, could rise and offset losses in other areas of one’s portfolio, and the security that comes with privately holding an asset like gold is profoundly empowering.
If you fear that our nation’s economy could suffer another setback before recovery is truly underway, then a physical gold investment may be right for you. Register today with Gold-Bullion.org to get a free copy of our Insider’s Guide To Gold Bullion Investing, and take advantage of our research team’s expert knowledge.
