June 16, 2009 – The gold spot price is tumbling today, down about 4.5% this month, yet a bargain hunting opportunity may arise because wise investors typically purchase gold bullion bars and coins when spot prices take a dip in order to potentially profit when they rise again. Gold bullion bars and coins are the most popular diversification option for investors who seek short-term profit-taking potential. Since bullion products trade closely to the spot price, it makes it easier for investors to purchase and sell in an instant because the value of their bars and coins can be determined very easily. As far as products are concerned, there are many different types of gold bullion bars and coins available for purchase, and it really all depends on preference. Do you want pure 24-karat products that have low resistance to damage, or do you want 22-karat products that have high resistance to damage due to their alloy with another metal? Do you seek visually appealing products like the Canadian Maple Leaf coins or the Pamp Suisse bars, or do you seek less visually appealing products like the South African Krugerrand coins or the Credit Suisse bars? As you can see, the sky is the limit, and it all depends on what you are looking for.
By around 1 PM Eastern Standard Time, gold bullion products are headed in the downward direction as the spot price of the metal continues to weaken amidst a stronger United States Dollar, and currently the metal is trading at $927.70 per ounce, falling 1.14% for the day, yet still gaining 6.52% in the last year.
