Daily Precious Metal Update

June 10, 2009 - The increasing instability with the United States economy has masses of investors wondering what will happen next during this financial crisis, and several of them are taking the initiative to begin investing in bullion coins and certified rare coins because safe haven precious metals could outperform the majority of other investments throughout 2009. Bullion coins such as the American Eagles and Austrian Philharmonics are increasing in popularity with investors who seek short-term profit because they trade at a low premium above the spot price of their respective metal, thus making them easy to purchase or liquidate. On the other hand, certified rare coins such as the $20 Lady Liberty and $10 Indian Heads are also increasing in popularity with investors who seek long-term preservation potential because in the past few years, they have proven impressive resistance to the volatility of modern-day bullion coins. This being said, it’s very important that you fully research the precious metal market before beginning a diversification in order to find out which products may suit your investment goals and needs best.

By around 3:20 PM Eastern Standard Time, it appears that gold and silver are headed in the downward direction while platinum is making a moderate jump, and today’s market fluctuation is mostly dependent on the overall strength of the United States Dollar that is currently increasing. The gold spot price is sitting at $953 per ounce, falling $1.60 for the day while the silver spot price is sitting at $15.15 per ounce, falling seven cents for the day and the platinum spot price is sitting at $1265 per ounce, jumping up $16 for the day.

Daily Updates Archive

Danny Burns

Senior Staff Writer - Precious-Metal.org