Todays gold price( spot) reads $899.70 an ounce at 23.40 GM, marking the second consecutive days fall amid worsening economic conditions.
The April Gold futures 1.6% to $892.50 an ounce on the New York Mercantile Exchange’s Comex division, following a 2.3% fall on Monday
Analysts say the government's bailout package will likely give a boost to the demand for gold going forward. History shows that gold prices rose for eight straight years and gained in five of the past six U.S. recessions.
Reports say that gold may even touch $2,000 in the light of strong recessionary pressures that gripped the global economy, suggesting decline in other investment options and commodities. A weakening greenback also enhance gold's appeal as a better option for investors.
Todays gold price suggest a possible correction that may short-lived, only to rebound going forward. And purchasing gold coins in affordable units is the easiest way to participate in the imminent gold rally. Explore the gold coin gallery and make use of the relative cheap prices at our store.
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