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Daily Precious Metal Update

January 27, 2009 – Platinum projections are looking both bullish and bearish for 2009 as many investors don’t know what to think about the metal especially since it has lost such a significant amount of value in the last year due to the lower demand of vehicles during this current financial crisis. Platinum and gold fall today while silver moves up a bit and this is really based on some overnight profit selling by short-term investors looking to make their quick 5.7% gain on investment that we’ve seen in the last four trading days. Things are definitely looking up for precious metals, because historically they increase in value during times when inflation is a problem in the economy, similar to what we’re seeing right now. Although many people are speculative about precious metals, it looks that mainstream investments like stocks and bonds won’t be achieving significant gains that metals will this year especially looking at the bullish gold, silver and platinum projections.

Today were seeing gold trading in the area of $900.50 per ounce, a $1.80 decrease for the day but still a $31.80 increase in the last 30 trading days while silver continues to move up seven cents to $12.07 per ounce and platinum falls $21 to around $938 per ounce. It’s important to keep our eyes on the external determining factors that could lead the way for precious metals investments this year as well as paying close attention to the gold, silver and platinum projections that will continue to change as fresh news of the recession comes out. Have an excellent day and invest well.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer –

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