Daily News

June 26, 2009 - The price of gold is inching its way up today as a weaker United States Dollar and stronger crude oil has prompted many wise investors to re-enter the precious metal market in order to potentially protect themselves from the dangers that lie ahead with dollar-backed assets. Inflationary concerns are growing yet again today after the Federal Reserve mentioned that they would keep interest rates at a low level until further notice, and even though this doesn’t spark short-term inflation, it only means that they will continue overprinting and quantitative easing measures until they feel that it is time to increase interest rates yet again. For those investors who don’t remember the last high-inflationary, rising interest rate period of the late 1970’s, the price of gold climbed more than 850% in just two years while stock markets and real estate flounder amidst one of the worst recessionary cycles the United States had seen up to that point. Many investors and market analysts believe that history could repeat itself, yet just by looking at our colossal debt and excessive overprinting measures, we may be in for a surprise of catastrophic proportions.

By around 3:30 PM Eastern Standard Time, the price of gold looks like it is approaching its first weekly gain in four based on slightly higher safe haven demand. The metal is currently sitting at $940.40 per ounce, an increase of $1.50 or .16% for the day, a decrease of $11.70 or 1.23% in the last month, yet an increase of $55.10 or 6.22% in the last year.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Gold-Investment.info