Daily Precious Metal Update

July 21, 2009 - Less investors are deciding to invest with precious metals today as the market is stale after drifting to monthly highs that were seen just yesterday. The United States Dollar Index continues leading the way for most investing markets, and today’s stale movement with the fiat currency is creating scale movement with everything from precious metals to stock markets and crude oil. According to several market analysts, more American investors may continue to invest with precious metals down the road as inflationary pressures become more and more apparent in our economy.

Gold Spot Price = $947.60 per ounce, decreasing $1.50

Silver Spot Price = $13.54 per ounce, decreasing $0.09

Platinum Spot Price = $1169 per ounce, decreasing $12.00

Inflationary pressures have become one of the biggest fears to many investors at the moment, especially since the United States Dollar could lose significant value down the road as a result of our excessive overprinting and quantitative easing measures. Fortunately, safe haven metals like gold and silver have proven their ability to thrive during similar economic times, thus we could see more investors deciding to invest with precious metals as inflation grows. For example, the last time that the United States faced a dangerous high inflationary economy was in the late 1970’s when both gold and silver skyrocketed more than 800% as a result of a large-scale flock into safe haven metals. Keep a close eye on the United States Dollar Index because further weakness could cause more Americans to invest with precious metals in order to potentially protect their hard-earned wealth from danger.

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Danny Burns

Senior Staff Writer - Precious-Metal.org