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June 23, 2009 - Current spot prices are making a turn for the better, and they are rebounding after minor losses that have been seen in the past few days as a direct result of higher safe haven demand that is occurring because wise American investors are flocking to physical possession gold bars and coins in order to potentially protect themselves from the increasing dangers with dollar-backed assets at the moment. In the past few weeks, there has been some very dangerous speculation arising about the United States Dollar losing its status as global reserve currency, and this has created significant fear with the fiat currency and dollar-backed assets in the short-term. Why would a wise investor want to hold an asset that could lose significant portions of its value down the road? All eyes are currently on tomorrow’s Federal Reserve meeting that should dictate some direction for the dollar and American investing markets. It’s very important that we keep a close eye on any upcoming daily news along with the current spot prices because even the slightest bit of negativity with the dollar could send gold closer or beyond its all-time record high of $1033 per ounce.

By around 2 PM Eastern Standard Time, gold’s current spot prices are showing minor increases today, and it appears like the metal is headed in the right direction, with several market analysts and large investors backing up its safe haven potential. The current spot prices are sitting at $924.30 per ounce, increasing $1.70 or .18% for the trading day, yet decreasing $32.20 or 3.37% in the last 30 trading days.

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Arthur McGuire

Senior Staff Writer - Gold-Investment.info