Daily Precious Metal Update

April 29, 2009 - Gold, silver and platinum bullion coins are increasing in value today as investors are currently flocking to safe haven investments yet again because they fear further problems down the road with a weakening United States Dollar and uncertainties about the latest swine flu outbreak. The Dollar Index has fallen today for the second day in a row based on speculation that the United States Government may spend billions of dollars in order to contain the swine flu outbreak, and this could create a significant impact on the global economy. In other news, the government is continuing its quantitative easing measures, and they are planning to revive growth in the US by purchasing more than $1 trillion in asset backed securities as well as $300 billion in long-term treasuries and $1.45 trillion in mortgage debt. Both short-term and long-term projections are saying that the overprinting of dollars used for this quantitative easing may create problems for the United States economy down the road.

By around 2:30 PM Eastern Standard Time, the popular bullion coins like the American Eagles, Canadian Maple Leafs and Chinese Pandas are increasing in value with the daily market spot price of gold that has officially reached $900 per ounce, up $6.70 for the trading day while the silver spot price currently sits at $12.79 per ounce, up $.30 for the trading day and the platinum spot price currently sits at $1096 per ounce, up five dollars for the trading day. Bullion coins may continue to increase in value as investors see vulnerabilities with the United States Dollar and its stock indexes.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org