Daily Precious Metal Update

January 20, 2009 – Gold bars see some sharp increases this afternoon due to a wide variety of economic factors but mostly the uncertainty that investors are feeling right now with the worsening recession and failing banks. The economic problems we are experiencing are leading the way for higher precious metal prices and current projections are saying that the year will be excellent for bars and coins if things continue the way they are. Gold bars have really become an ideal investment lately because with so much fluctuation in mainstream investments and the United States Dollar, investors seek a safe haven asset with a history of profit and preservation during difficult economic times. This systematic fear alone is what could bring gold prices to their speculative $2000 per ounce, thus making many wise investors who own the metal very happy.

Today we’re seeing gold sit at around $862 per ounce, up $20.20 for the trading day and $24.70 for the month. Silver sits at around $11.35 per ounce, or $.13 for the trading day and platinum falls $2 down to around $941 per ounce. It’s important to keep our eyes on the United States Dollar along with the steps being taken by President Barack Obama to aid the economy because they will bring further fluctuation in gold bars and the precious metal market for time to come. No matter what happens to the economy, owning bars and coins looks to be an ideal investment for the future. Have an excellent day and invest well!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange