March 20, 2009 – The gold bullion price continues pushing upwards due to a weakening United States Dollar that has the metal poised to hit a 3.6% increase in value for the week. Investors are flocking to precious metals as the possibility of a dark road ahead grows due to the latest actions by the United States Government and Federal Reserve. Today’s gold bullion price is benefiting greatly from the increased fear of a worsening recession, and more analysts now believe we are seeing the early stages of a full-blown recession with the latest unemployment and inflation data. Just yesterday, the metal made an outrageous rebound in value that left many investors and analysts shocked, closing at a 7.8% increase for the day after opening on a near 3% decrease. Growth like this could continue becoming more common as inflationary fears erode the confidence of the United States economy and its once almighty Dollar.
Today the gold bullion price is moving up to $956 per ounce and many short term projections are expecting the metal to reach $1000 per ounce by the end of next week. There seems to be very bullish feeling with precious metals at the moment and it’s mostly because investors are beginning to understand their potential during increasingly unstable economic times. Many investors and analysts are eagerly awaiting the day that gold surpasses $1033 per ounce, which could also signal a historically lower overall confidence in the strength of our great country. Invest well and don’t forget to diversify appropriately.
