Daily Precious Metal Update

March 19, 2009 - Certified rare coins like Morgan silver dollars and $20 Saint-Gaudens are becoming hot buys by investors who want the profitability of precious metals while at the same time obtaining an asset that is historically a bit more preservative and non-confiscatable by the United States Government. Today precious metals are jumping up due to the latest news from the Federal Reserve that is causing an especially higher amount of fear amongst investors who felt that the economy would recover sooner than expected. This has come as a complete surprise to many, especially those who felt that inflation would be a problem after Ben Bernanke said that we have officially avoided a depression. It’s never too late to avoid depression, and many already believe we are in one due to the recently higher unemployment rates along with rising prices on consumer goods. Will we enter a depression, or are we already in one?

During the midday trading hours precious metal spot prices are increasing for the second day in a row, and the gold spot price currently sits at $955.50 per ounce, shooting up $14 for the trading day while silver moves of $.60 to around $13.49 per ounce and platinum follows their lead by moving up an impressive $52 to around $1110 per ounce. The future of fluctuation in this market will most likely result on the strength of the United States Dollar and equity markets, so make sure you track financial markets in general in order to maximize the potential of an investment in gold, silver platinum.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org