January 15 - Daily Precious Metal Update

January 15, 2009 – The future continues to look bright for precious metal investing despite sharp drops in all precious metals in the last three days mostly due to a stronger United States Dollar and speculation that the economy will get better. The question is, how can the economy get better when the United States alone is $10 trillion in debt and last months retail sales data showed that there was a 2.7% loss in sales in general goods and a .7% loss in automobile sales? People are being really cautious right now and caution usually ends up being safe haven precious metal investing.

All precious metals lost value today for the third day in a row and were currently seeing gold trading at around $811.60, down $8.70 for today and down $25.30 in the last 30 days. Silver on the other hand fell $.21 down to $10.50 per ounce and platinum also continues to fall after some spikes last week down $9 to around $928 per ounce. Precious metal investing projections remain positive and expert analysts are saying that gold should rise to around $900-$1200 per ounce, silver around $15-$18 per ounce and platinum to around to $950 per ounce as the demand for safe haven alternative investments increases. Let’s see what 2009 and has in store for us but in the meanwhile it’s important to track the United States Dollar along with other commodities in order to project where our own precious metals will end up. Have an excellent day and invest well!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange