December 19, Daily Precious Metal Update

December 19, 2008 - Precious metals dropped a little bit today as we approach the holiday season and investors start to relax after an exciting yet very difficult year. Gold has dropped $12 since yesterday down to $840.30 per ounce but still 14.34% higher in the last 30 days and 4.89% higher in the last year. Silver fell about nine cents down to $10.87 per ounce and platinum falls three Dollars down to $850 per ounce after being surpassed by gold a few days earlier. Precious metal projections for 2009 look to be positive and many expert analysts are saying that gold and silver could see some major spikes while platinum may stay flat due to less demand for automobiles at the moment. Platinum may see increases only if President-elect Barack Obama’s stimulus package of nearly $800 billion succeeds in restoring faith to Americans and that as a result could cause more demand for vehicles, benefiting the metal.

Until that happens, the entire world is uneasy and students and youth see darker times in their futures as a result of unwise decisions their leaders have made. Greece, Italy and France are experiencing major riots and uprisings against their governments and totals over €1.3 billion in damage have been caused in the last several weeks. Unemployment levels continue to rise around the world but in the past two weeks we have seen a slight decrease in US levels down to 4,384,000 jobless. The best things to do right now are work as hard as possible and invest in precious metals that may see an excellent coming year. I wish you an excellent weekend and a happy holiday season.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange