December 22, 2008 - Gold bullion prices rise today for the first time in three days as heavy safe haven buying continues due to a questionable future for global economy. Markets are looking well for the holiday season and the current gold bullion spot price is $845.70 which is a 1% increase for the day, a 5.5% increase in the last 30 days and a 4.19% increase in the last 365 days. Gold bullion projections are looking hopeful for 2009 as investors continue to seek the metal with hopes of preserving current wealth and profiting during this financial crisis. Recent demand for gold as a safe haven has increased and looks to continue throughout next year.
The Chinese Central Bank said today that it would cut its key lending rates and deposit rates by 0.27% each to help their economy following Japanese, British and American rate cuts that have happened in the last two weeks. We’re in the time of despair and major governments and banks are doing everything they can to prevent a collapse. Toyota for instance took a $1.6 billion loss, which is the worst that they’ve seen since World War II and things don’t seem to be getting any better for 2009. Even if automaker companies received their debated bailout they would still be in much trouble and only prolonging an uncertain fate. Gold bullion seems like the way to go in the coming years so don’t forget to invest while you can. Happy holidays and have a great day.
