Daily Precious Metal Update

August 4, 2009 - Gold bars are some of the most popular precious metal diversifications available because for decades, wise American investors have been purchasing them as their ultimate store of wealth asset. Safe haven demand for gold bars has increased exponentially since 2001 as the spot price of the metal climbed from $250 per ounce to more than $900 per ounce in 8 years. Growing speculation about further uncertainty down the road is causing more and more wise investors to continue purchasing gold bars in order to further protect their hard-earned wealth from inflation, deflation and anything in between.

Gold Spot Price = $965.70 per ounce, increasing $9.20

Silver Spot Price = $14.59 per ounce, increasing $.38

Platinum Spot Price = $1265 per ounce, increasing $30

Several different economic factors are supporting higher precious metal spot prices at the moment, especially the weaker United States Dollar and increasing physical demand from global investors as inflationary pressures become more and more apparent in our economies. According to several market analysts, we may see an economic recovery sooner than expected, yet this may lead to dangerously high inflation which in turn could be beneficial for gold bars and other popular precious metal products that tend to thrive when dollar-backed assets are devaluing. The latest market projections are forecasting that spot prices could climb above and beyond their all-time record highs within the next few years if inflation begins taking its toll on investments tied directly to the strength of the United States Dollar.

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Danny Burns

Senior Staff Writer - Precious-Metal.org