Daily Precious Metal Update

January 21, 2009 – Precious metal forecasts are looking great for 2009 with many market analysts increasing their projections around 20% higher than expected due to speculation that our economy won’t be getting better this year and that an $825 billion stimulus plan and a $50 billion bank bailout plan will only cause long-term inflation which in turn should spike the prices of investment grade gold and silver. Today were experiencing a mixed amount of turbulence in all markets, with stocks falling, oil increasing, gold decreasing, silver remaining stable and the United States Dollar increasing in strength. Precious metal forecasts say that the current events will push gold and silver to prices much higher than anyone expected and some are saying that new record highs will be set this year amidst a growing array of economic problems. All we can really do is wait and see where the economy takes us and diversify correctly during this downtime in order to maximize the effectiveness of our investments.

Today gold is trading in the area of $850 per ounce, down $4.90 for the day and up $3.30 for the month, while silver stays exactly the same at $11.17 and platinum falls $11 to around $922 per ounce. With precious metal forecasts saying that gold could hit $1500 per ounce by the end of the year, silver around $25 per ounce and platinum around $950 per ounce it makes sense to diversify into the proper investment for your portfolio needs. Invest well and have a beautiful day.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange