Daily News

June 19, 2009 - The current spot price is seeing a minor increase as the United States Dollar Index falls .44 points to 80.14 and crude oil prices fall $2.70 to $69.20 per barrel. This week has seen some instability with the majority of investing markets as the tug-of-war continues between optimistic and pessimistic investors. Today’s current spot price is recovering as a direct result of speculation that is arising about weakness with the United Stated dollar as fears of short-term deflation and long-term inflation are causing many wise investors to be very wary with dollar-backed assets. Gold has shown a very powerful inverse correlation with the dollar in the past few months, and they both seem to be in a small standstill today as investors are eagerly awaiting further direction from upcoming economic data and next week’s Federal Reserve meeting. If you’re looking to enter the gold market today, you could be taking advantage of low spot prices that may rebound significantly within the next few weeks if instability continues with our economy. The latest short-term projections are forecasting a spot price of $950 per ounce by next week if the upcoming Federal Reserve meeting creates negative sentiment with the dollar and mainstream investing markets.

By around 3:45 PM Eastern Standard Time, the current spot price is headed in the upward direction, yet only with a minor increase that is being limited by instability with investing markets at the moment. Gold is currently trading at $933.40 per ounce, increasing $1.10 for the trading day and also increasing $51.30 in the last 365 trading days.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Gold-Investment.info