January 14 - Daily Precious Metal Update

January 14, 2009 – Precious metals pricing has risen along with the spot prices, which is good news for the day, after seeing small fluctuation and even decrease in price yesterday. Gold is currently trading at around $825.10 per ounce, a $5.20 increase for the day and a $3.10 increase for the month. Silver is trading at around $10.67, which is a five-cent increase for the trading day while platinum sits at around $933 per ounce, a $19 decrease for the trading day.

Precious metal pricing has been a little tougher to predict over the last few months, thanks largely to the shaky ground sitting beneath the United States Dollar. The Dollar’s buying power was up for a short lived period in late 2008, but just before anybody started to expect a comeback, it was over as quickly as it began.

If 2008 proved anything, it is that the current economic crisis is anything but over. 2009 may or may not be a better year for investors than 2008 was, but this crisis isn’t going to be solved by an easy fix.

Until we’re standing in less uncertain times, precious metals investors, at the very least, should be protected from any further drops in the Dollar. Even metals investors who chose to pursue other interests such as stocks and real estate are protected in case of any unforeseen crashes. Since setbacks, crunches, and crashes have been par for course for a few years now, it’s no wonder we’ve seen such a spike in demand for alternative investments and this increase in demand further increases precious metal pricing. Have a beautiful day!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange