March 31, 2009 - The gold bullion bars price is increasing after seeing some small losses in the past few days, and short-term projections are expecting spot prices to increase up to $965 per ounce by the end of the week. The metal is currently heading towards its best quarter in a year due to a weakening United States Dollar and significantly higher demand for safe haven assets. There’s some very interesting news circulating at the moment, and it speaks about China pushing to begin a new currency that could replace the prominence of the United States Dollar. Any movement along these lines may severely devalue the dollar, which in turn could be very beneficial for the gold bullion bars price since it increases when pressure is apparent on fiat currencies. Precious metal exchanges around the nation are noticing an overall higher demand for the metal throughout 2009, and this may result in much higher prices down the road.
During the midday trading hours, the gold bullion bars price is moving up to $918.20 per ounce, an increase of $2.40 for the day but still a decrease of $12.70 in the last year. So far this year the metal has increased in value 4.1%, a noticeable difference considering the fact that the Standard & Poor’s 500 Index and Dow Jones Industrial Average are currently at declines. If things keep on going the way they are with financial markets and the global economy, we may see one of the best years ever for the gold spot price. Happy investing.
