Daily Precious Metal Update

June 9, 2009 - Physical possession precious metal demand is increasing today as spot prices are climbing based on a contracting United States Dollar, thus wise American investors are purchasing bullion bars and coins as well as certified rare coins that have historically thrived during troubling economic scenarios. Many different economic factors have affected the precious metal market since the beginning of 2009, yet today it appears that significant speculation is arising about long-term inflation because the Federal Reserve is planning to increase interest rates by the end of the year after trillions of unpaid dollars have been overprinted since 2007. Inflationary cycles have been very interesting in the United States, and one of the most notable ones was between the years of 1978 and 1980, when the value of gold and silver bullion bars and coins increased exponentially as wise investors flocked to safe haven metals as a hedge from inflation and store of wealth. Sure enough, they got what they asked for, and gold in particular skyrocketed more than 800% in that brief two-year period.

By around 2:20 PM Eastern Standard Time, bullion bars are increasing in value across the board as spot prices have officially rebounded from a two day consecutive slump, and gold is currently sitting at $954 per ounce, moving up $3.20 for the day while silver is currently sitting at $15.16 per ounce, moving up $.27 for the day and platinum is currently sitting at $1250 per ounce, moving up eight dollars for the day.

Daily Updates Archive

Danny Burns

Senior Staff Writer - Precious-Metal.org