September 18, 2009 - Gold bullion futures traded slightly higher on Friday morning, as the government's recent slew of positive economic news allowed investors to shift out of traditional investments and into commodities like gold bullion. Analysts around the nation expect gold bullion to grow in value overthe next few years as mainstream investments pull back from recent surges brought on by the White House's stimulus plan.
Experts at GoldCore believe that the rise in interest in gold bullion could suggest that gold could see further upwards movement in the future. These analysts think that many American traders understand that gold could reach heights never before seen. Investors are now more apt to hold for security instead of selling for profit, and Yahoo Finance reported on Friday that US government data indicates that the quick credit and real estate market recovery that everyone wants may not be realistic. Numbers indicate that Americans are diverting funds from possible real estate investments and shifting into gold bullion instead. The Federal Housing Administration said Friday that their cash reserves are dipping below mandated levels. There are about 17% of FHA borrowers who are at least one payment behind or in foreclosure, and the $8000 rebate to first-time homebuyers isn't luring very many investors away from precious metals.
Gold bullion bars and coins are traded based on their weight, and the current per ounce spot price of gold trading on the New York Mercantile Exchange is $1012. Gold hit a 25-year low of $252 in 2001, and analysts like Walter Murphy at Merrill Lynch have been calling for the rise in gold since that time. Track gold bullion prices at www.goldprice.net or www.kitco.com.
