Daily Precious Metal Update

March 12, 2009 – Precious metals funds and investments are becoming much more popular than they used to be especially since investors are noticing the problematic fluctuation in other financial markets and comparing them to the exponential gains that safe haven assets like gold and silver have achieved in the past eight years. Today for example, the increasing demand is coming from speculation that the global economy is getting worse and that stocks and the United States Dollar will continue to decline in the upcoming weeks and months due to higher inflation. What many people don’t know is that inflation is simply at its beginning stages and things could get much worse in the near future, even possibly turning into hyperinflation, which could spike the value of precious metal funds. All we can really do at the moment is diversify well and keep a close eye on the other financial markets that can fluctuate pricing, such as the United States Dollar and crude oil prices.

Precious metal funds are rebounding during the midday trading hours and many believe that gold in particular is headed well on its way to surpassing its record high. Currently, the gold spot price is $923.60 per ounce, moving up $15.70 for the day and also moving up $8.60 for the month while silver also increases $.16 to $12.93 per ounce and platinum is the only loser, falling six dollars to around $1045 per ounce. A wise investor may want to take the opportunity of lower spot prices in order to maximize their profit and preservation potential in the long term if prices begin to climb to their projected levels.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org