Gold Bullion Investment for Safe Haven Investors

Gold bullion experienced a short pull back in prices in December 2009, there are now signs that the gold price blip may well be over with gold back on track for new highs.

After an exciting 6 month rally in which gold prices moved from below $900 an ounce to over $1200 gold dipped in a profit taking correction at the end of last month to just below $1100 an ounce. Today the gold price is back up $1150 an ounce with an upward trend showing signs that the next leg in the gold price rally may well be underway.

Should you be buying gold bullion personally?

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After fears in the strength of global currencies grew and ever greater concerns about the risks of inflation started to nag, a rapid gold price surge was eventually triggered in the last quarter of 2009. Gold prices rose from around $998.00 an ounce at the start of October 2009 to over $1200.00 an ounce by early December 2009. As December rolled forward there was a sharp correction in bullion prices as investors and traders eagerly cashed in some of their year’s profits. The question now is ‘are we at the start of the next gold price surge?’

At Shelter Offshore we don’t claim to be mystics or clairvoyants able to guess exact bottoms or tops of any market price, however we are keen gold price observers and the recent price drop and correction in gold prices does seem to have levelled out and reversed over the past few days. This could well be an indication that it’s a good time to get into the gold bullion market at a reasonable price.

After storming forward to over $1200.00 dollars an ounce in December the sharp gold price correction ended just before Christmas when prices slipped a little below $1080.00 an ounce since then prices have levelled out and started to show a steady reversal. As I write the current gold price is $1125.20 an ounce up over $40.00 an ounce since 22nd December. Will the upward trend continue? 

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The news that the price of gold futures fell yesterday and that gold has only achieved modest gains in the second quarter of 2009 anyway, suggests that the appeal of this commodity is perhaps waning – amongst smaller investors anyway.

So is gold no longer an attractive commodity?  Or is it still worth an investment as a way to hedge your bets?

We believe that gold is, and always will be, a good investment – even if it’s only in the form of a piece of attractive jewellery!  So in this report we’ll take a look at the fluctuating fortunes of gold, and why it should perhaps form part of your long-term portfolio strategy after all.

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