January 12 - Daily Precious Metal Update

January 12, 2009 - Precious metal projections are looking great for 2009 and with the economy in the state of turmoil that it’s in right now, we could be seeing even the most speculative projections become a reality in the near future as things continue to worsen and the United States Dollar continues to fall. Today’s 2008 job data came in and shocked the entire United States due to nearly 2.6 million jobs lost last year and over 1.9 million jobs destroyed in just the past four months. This is the biggest recorded job loss in our latest history since 1945 when 2.75 million jobs were lost as a result of World War II when the war production factories closed down. The number of people collecting unemployment benefits at the moment has risen to the highest level in 26 years up to 4.61 million people.

Gold is currently trading at around $858 per ounce, which is a $1.60 increase for the day and a $48.90 increase for the month. Silver is trading at around $11.22, which is a $.12 increase for the day, and platinum is trading at around $981, which is a six-dollar increase for the day. With precious metals projections saying that gold could be at $1200 per ounce, silver at $20 per ounce and platinum at around $1100 per ounce, the future of the metals looks positive as a result of the ever-weakening economy. Let’s keep our eyes into the future and don’t forget to invest appropriately. Have a great weekend!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange