Daily Precious Metal Update

August 7, 2009 - The future of precious metals continues to look bullish today as several market analysts and financial institutions have released impressively bullish projections forecasting higher spot prices by the end of the year and significantly higher spot prices within the next three years. According to these projections, the future of precious metals may thrive as a result of weaker dollar-backed assets that are currently in the spotlight as a result of the growing inflation that is slowly but surely manifesting in our economy. If inflation does hit projected levels within the next few years, we could see the gold spot price climbing beyond $1033 per ounce, potentially hitting $1500 per ounce or higher while the silver spot price could climb beyond $18 per ounce, potentially hitting $25 per ounce or higher.

Gold Spot Price = $954.40 per ounce, decreasing $8.60

Silver Spot Price = $14.58 per ounce, increasing $.03

Platinum Spot Price = $1263 per ounce, increasing $2.00

Several market analysts are currently forecasting that spot prices may see some resistance until the end of the year when the United States Federal Reserve may decide to increase interest rates. If the Federal Reserve increases interest rates before we see a true economic recovery, we may see a more bullish future of precious metals because this could spark dangerously high inflation down the road in our economy, which in turn has proven to be beneficial for gold and silver in particular. This being said, if high inflation hits and spot prices soar, wouldn’t you like to know that you have a few bars and coins that could protect your hard-earned wealth throughout the worst financial crisis we have seen since the Great Depression?

Daily Updates Archive

Danny Burns

Senior Staff Writer - Precious-Metal.org