March 5, 2009 – The current gold price is shooting up today as precious metal markets begin a significant rebound due to tumbling stocks and crude oil prices. United States equities were quickly weakened after General Motors reported that there was a doubt about its ability to continue as a company, which is causing increased fear in the minds of investors that have hope about the United States economy restoring its former glory. Safe haven buying is the talk of the day, and many wise investors are beginning to track the current gold price in order to enter the market at just the right time today to possibly take advantage of the spike in value that may be experienced in the upcoming weeks. Just a few days ago I read a market commentary that spoke about the rebound we are experiencing right now and that it has the possibility of building enough strength to surpass the record high of $1033 per ounce. Although many people think this is a bit speculative, investing markets have certainly proven to surprise many during this financial crisis, so nothing is impossible.
The current gold price is moving up rather quickly $922 per ounce, up $17 for the day and also up $18.10 for the month yet down $41.40 for the year. Many market analysts and financial institutions believe that 2009 will see a lot of growth for the metal, which means that safe haven investors could benefit from both the profit and preservation of precious metals that historically thrive during recessionary cycles.
Senior Staff Writer – Gold-Investment.info