February 6, 2009 – Gold bullion bar prices are seeing some small fluctuation during midday trading today and it looks like the metal might be headed in the direction of its first weekly drop in the past three weeks. Although there is a little bit of short-term selling this morning, there has been a lot of speculation that next week could see some very impressive gains, with some even saying that the record high of the metal will be surpassed as a result of the higher than normal safe haven buying. Today the United States Dollar stayed flat versus other currencies while oil drops a bit down to $40 per barrel. The United States and global economy are not showing very much improvement at the moment and more than 98% of corporations are losing significantly right now. As unemployment continues to rise everyday along with inflation, the path might be clear for higher gold bullion bar prices very soon.
Gold bullion bar prices are down to around $912.80 per ounce, a $1.70 decrease for the trading day but still an impressive $70.80 increase in the last 30 trading days. Short-term projections for the metal are saying that by the middle of next week we could see up to $1000 per ounce if the economy keeps on getting worse and investors keep on buying this historically profitable and preservative metal. I wish you the best luck when investing in bullion bars and coins and have a beautiful day.
