Daily Precious Metal Update

March 16, 2009 – The ever-increasing fluctuation with stock markets and the United States Dollar has caused many wise investors to invest with precious metals, yet many do not understand the full potential of these safe haven investments during times of financial crisis. Precious metals such as gold and silver have been historically used as a method of preserving wealth during times of economic instability, and in the past few years they have increased in value exponentially due to rising inflation and a variety of other negative economic factors. Today for example, the stock market has rebounded slightly along with the United States Dollar, which has adversely decreased precious metals spot prices; still the massive number of interested investors looking to invest with precious metals continues to increase due to an overall decreased confidence in the United States and its corporations. Over the weekend we saw some news that has caused a lot of fluctuation, and it came from our Federal Reserve Chairman, Ben Bernanke who said that a depression has been avoided. Maybe he hasn’t taken into consideration the massive inflation, or even deflation that may occur as a result of our massive stimulus and bank bailout plans.

It probably wouldn’t be a bad idea to invest with precious metals at the moment, especially since they are all at a decrease for the day. The current gold spot price is at $922.80 per ounce, coming down $6.60 for the day and also coming down $19 for the month while the silver spot price falls $.31 to $12.87 per ounce and platinum follows their lead by losing one dollar to around $1054 per ounce. This could be an opportunity to make an investment and run with it, especially since many market projections are still looking more bullish than ever before.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org