April 20, 2009 – The recent slide with mainstream financial markets is causing many market analysts to update their gold bullion price projections as a result of increasing safe haven demand that is only expected to increase in the near future as wise investors begin to take advantage of the precious metal market with today’s bargain hunting opportunity. The gold spot price has rebounded after some consecutive losses last week, yet gains are being limited by a strengthening United States Dollar that has surged towards 86 points on the currency index. The latest gold bullion price projections seem to be very dependent on the strength of stocks and the United States Dollar. American investors who understand this correlation are taking a close look at significantly weaker stocks and making the wise decision to purchase bullion products because further short-term weakness is expected with fiat backed investments.
During the midday trading hours, the bullion spot price sits at $886.90 per ounce, an increase of $18.20 for the day yet a decrease of $65.70 in the last month. Short-term gold bullion price projections are expecting higher spot prices by the end of the week as safe haven demand along with jewellery demand increases, especially with the Indian wedding season that is a prime time for precious metals. Spot prices in the next few weeks have been projected to stay in the area of $840-$1050 per ounce according to Geoff Clear, who is the global co-head of commodities at Australia & New Zealand Banking Group.
