Daily Precious Metal Update

May 26, 2009 - Precious metal bars have long been the most popular way to invest in safe haven metals because they are the traditional investment that has been in use for decades in investing portfolios around the nation. Today the majority of these precious metal bars are losing a bit of their value, yet wise investors are looking at this as a bargain hunting opportunity in order to take advantage of the lower spot prices before they continue heading on their way up. The latest projections for gold and silver in particular have been increasingly bullish because more and more market analysts are beginning to believe that precious metals will continue to thrive during this financial crisis. This being said, the overall demand for physical possession precious metal bars has increased exponentially in the last eight years, and since then both gold and silver have skyrocketed in value more than 300% as masses of investors began selling their stocks, bonds and real estate in exchange for an asset with significant historical value.

By around 5:40 PM Eastern Standard Time, precious metal bars are losing value across the board as spot prices are contracting today based on speculation that inflationary pressures may slow down in the near future. The current gold spot price sits at around $952.10 per ounce, decreasing $4.40 for the trading day while the current silver spot price sits at around $14.61 per ounce, decreasing eight cents for the trading day and the platinum spot price sits at around $1133 per ounce, decreasing $20 for the trading day.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org