February 27, 2009 – Gold bullion price projections are looking towards a brighter future for the metal as several financial institutions are raising their previous projections in order to reflect the increased safe haven demand during this financial crisis. Goldman Sachs for example raised their gold bullion price projection to around $911 an ounce as the average for 2009. Many wise investors are starting to realize the potential of physical possession gold and they are taking advantage of the undervalued market in order to fill their vaults up with the ideal bars and coins. They are doing this because the current economic recession is forecasted to last until 2010, which could mean a lot of fluctuation from now until then as safety and unemployment concerns arise. It has been projected that the best-case scenario could be a recovery in the second half of 2009 as that is how long the stimulus plan could take to fully function in the United States. All we can really do is wait and see what could occur while at same time taking advantage of the recent gold bullion price projections in order to estimate an appropriate time to enter the market.
Today investors have noticed a small decline in the gold bullion spot price that has brought the metal to around $936.40 an ounce, a decrease in value of $9.10 for the trading day yet still an increase in value of $50 in the last 30 trading days. It’s important that investors who own bullion bars and coins at the moment fully understand all of the external conditions that are affecting the spot price while at the same time understanding the correlation between the United States Dollar and precious metal values. Those who don’t fully understand this should contact a company such as the Certified Gold Exchange in order to make the best out of their investment. I wish you the best of luck when investing.
