Daily Precious Metal Update

May 22, 2009 - When it comes to diversifying into precious metals, no other metal holds the prominence and popularity of gold investing. In the past century, gold investing has increased in popularity significantly as wise investors from around the globe flocked to the metal based on its ability to trade inversely to fiat currencies. Modern day trading is showing that the metal is shining yet again as the ultimate hedge from fiat currency inflation and losses seen in mainstream financial markets such as stocks, bonds and real estate. The latest economic uncertainties and speculation that the United States Dollar could collapse is causing masses of wise investors to shift away from mainstream financial markets in exchange for physical possession bars and coins that have proven both profit and preservation potential during similar economic times. In the last high inflationary cycle of the 1970’s, gold increased in value more than 1000% while the stock markets tumbled and the dollar seemed more like an ordinary piece of paper than a currency.

By around 2:15 PM Eastern Standard Time, gold investing is becoming increasingly popular, yet other precious metals like silver and platinum are also increasing in popularity because several investors are diversifying into a wide variety of metals at the moment. The current gold spot price sits at around $957.10 per ounce, up $3.20 for the day while the current silver spot price sits at around $14.67 per ounce, up $.12 for the day and the current platinum spot price sits at around $1154 per ounce, up five dollars for the day.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org