Daily News

August 25, 2009 – Gold investments have truly shined in the past decade as masses of investors flocked away from unstable dollar-backed assets in exchange for safe haven assets like the popular COMEX bars. These COMEX bars are basically any bars there are approved for open trade by the United States Commodities Exchange. There are many different types of bars available, yet the Commodities Exchange only allows a certain few of them for open trade, in this case they must all be 24 karat gold and produced by leading global precious metal corporations. Some of the most popular COMEX bars are produced by Credit Suisse, Johnson Matthey and Pamp Suisse. Investors looking for lower-priced bars tend to stick with the Credit Suisse and Johnson Matthey products while investors looking for more exclusive and visually appealing bars tend to stick with the Pamp Suisse products that are commonly referred to as the “Gold Dream.”

During the midday trading hours, it appears that COMEX bars are losing a bit of their value as the gold spot price takes a small step backwards due to a small rally with the United States Dollar Index, yet several market analysts are expecting the spot price to rebound before the end of the week as a result of growing speculation about future instability with fiat currencies. Currently, the spot price of the metal is trading at around $950.60 per ounce, falling $3.10 for the day, yet gaining $128.40 in the last year. Some very interesting bullish projections have forecasted that gold may climb above and beyond $1000 per ounce before 2010 if the United States Federal Reserve decides to increase interest rates before a true economic recovery.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Gold-Investment.info