Daily News

March 6, 2009 – The price of gold has moved up for the second day in a row to above $940 per ounce as wise investors begin flocking into safe haven precious metal investments and away from the instability of stock markets at the moment. The recently released unemployment report showed that rates have soared to 8.1%, which is the highest we’ve seen since December 1983. Since the beginning of our economic recession, over 3.6 million jobs have been lost, a massive number that could increase exponentially as corporations around the nation begin to fail at alarming rates. The majority of investors and American citizens are worried that the global recession will only get worse in the upcoming months and years, which is why the wise few are beginning to track the price of gold in order to make a sound investment in this historically profitable and preservative metal.

Today the spot price of gold is moving up rather slowly after making a significant jump yesterday, and it is currently sitting at $938.40 per ounce, up .64% for the trading day and also up at 3.59% in the last 30 trading days. Since the beginning of 2009, the spot price has increased more than 6.5%, which has greatly benefited investors who own both bullion and investment grade certified rare gold coins. One of the recently released market predictions by Morgan Stanley is saying that they are expecting prices to average $1000 per ounce this year, up from their previously predicted $900 per ounce.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Gold-Investment.info