December 17 - Daily Precious Metal Update

December 17, 2008 - Today is a groundbreaking day for precious metal investors around the United States. Gold and platinum have finally met and spot price value and gold won the game at $866.70 per ounce compared to platinum’s $866.30 per ounce. Silver on the other hand is currently trading at $11.30 per ounce and the future looks good for it as further demand for industrial use of silver rallies.

Precious metals fluctuate evenly and 2009 could certainly be an excellent year for precious metal investors. One day for gold might see a low under $800, but we haven’t actually closed a day at less than $800 in weeks now (of course, there’s no telling what today or tomorrow will hold). All of our metals have generally been going pretty strong throughout 2008, and there’s very little to suggest we’ve got any sharp declines to look forward to.

At this point, I probably don’t even need to bring this up, as I’m sure you know it already, but the fact remains: 2008 has been kind to metal investors. It looks like the rises we’ve been seeing throughout the year are levelling off, and we might have to settle for a high eight hundreds number for gold, somewhere around eleven dollars for silver, and probably less than eight fifty for platinum (though it’s probably too early to guess what December 31 closing values will be), but I’ll take levelling off over wild ups and downs any day of the week. Have a great day!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange