Daily Precious Metal Update

March 2, 2009 – Gold bars are being referred to as one of the best investments to own at the moment since equities have lost more than half of their value and real estate has tumbled nearly 40%. The current state of the American economy is not looking pretty, and billionaire investor Warren Buffett referred to it as being in “shambles”. Investors know that safe haven assets like gold bars and coins have the potential to preserve wealth and produce significant profit during these difficult economic times, and many market analysts believe that now is the best time to own them considering that they are expecting to possibly double in value in the upcoming months and years. It’s obvious that United States citizens have lost confidence in their currency, but what would happen if currencies became devalued and everyone flocked to gold bars as the ultimate store of wealth?

During the afternoon trading hours gold is sitting at around $925.40 per ounce, a decrease of $14.20 for the day and also a decrease of $1.70 for the year while silver follows in the same direction and loses $.22 to around $12.89 per ounce and platinum also falls $15 to around $1057 per ounce. Today has certainly been a slow start for the month, yet this can only be expected after seeing such a rally to the metals in the past few weeks. Hopefully, the latest projections start to shape into form and we see a rebound that leads the metals closer to their record high prices before the year ends. Happy investing.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org