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Gold Silver Bullion Prices

August 17, 2009 – Gold and silver bullion prices are tumbling today, despite contracting stock indexes based on a stronger United States Dollar that is rallying at the moment. Just last week, gold and silver bullion prices were showing impressive gains as negative economic data was pushing investors away from dollar-backed assets in exchange for safe haven assets that hold true value. Despite today’s bearish market movement, several market analysts are expecting rebounds by week’s end, as the United States Dollar Index may not have the strength to sustain a rally for much longer. Currently, gold and silver bullion prices are showing limited downward movement, with gold sitting at $935.10 per ounce while silver is sitting at $14.02 per ounce. Short-term projections are forecasting that spot prices could be sitting at $950 per ounce and $14.50 per ounce respectively by the end of the week.

The United States Dollar is currently in the spotlight as the fiat currency has fluctuated between heavy gains and even heavier losses since summer began. Several market analysts are forecasting that the dollar could run out of fuel within the next few months, especially as inflation begins to grow faster and faster in our economy. According to these market analysts, inflation could spark significantly once the United States Federal Reserve decides to increase interest rates, thus putting dollar-backed assets at risk of further losses. Luckily, gold and silver bullion prices tend to thrive during inflationary economies, increasing more than 800% in just two years between 1978 and 1980 as inflation escalated amidst our contracting economy.

Shannon King

Senior Staff Writer – GoldSilver.org

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