"I am loving..." = present progressive, also known as the present continuous. This tense is used to describe events that are happening right now.
"I love..." = present simple. This tense is used to describe habitual or routine tasks, and also when stating facts.
(There's also the present perfect progressive tense, which is used for actions started in the past and that haven't yet completed, e.g. "I have been writing this post for a long time.")
Both examples provided by the OP are grammatically correct, althought there is a slight difference in meaning between the two, but it is very slight.
The present simple is used far more frequently by native English speakers and therefore sounds more "correct" to us, whereas other Indo-European languages, including Germanic languages such as German, Dutch, etc... and Romance languages such as French, Italian, Spanish, etc... place equal emphasis on using the present simple as they do the present progressive.
Grammatically-speaking, modern day English is a dumbed-down language... but it's effective.