The investment teeter-totter continues today as some wise American investors continue to buy gold bars and coins while others continue to sell-off in order to make short-term profit from the metal’s recent climb. It appears that the gold spot price is balancing between gains and losses for the trading day, yet it is not budging very far away from $954 per ounce area. The United States Dollar is currently taking a step back while major stock indexes are increasing, and this is causing some short-term safe haven demand as several wise investors are looking to buy gold bars and coins as a hedge from both short-term and long-term economic problems. The precious metal market is currently lacking significant momentum because the dollar and mainstream investing markets have been rather stale in the past week, yet several short-term market analysts are saying that the metal is poised to begin climbing yet again once the masses of American investors realize the dangers that lie ahead of us in this financial crisis. Fortunately, if we do see dangerous inflation or deflation down the road, we could potentially protect ourselves by deciding to buy gold bars and coins because the metal has thrived in the past during similar economic scenarios.
By around 11:20 AM Eastern Standard Time, the gold spot price is beginning a small climb as the United States Dollar continues heading in the downward direction, and currently the metal is trading at $955.70 per ounce, increasing $1.60 or 0.17% for the trading day and also increasing $32.70 or 3.54% in the last 30 trading days.
John Halloran
Senior Gold Specialist - Buy-Gold.org
