Daily Precious Metal Update

March 9, 2009 – Several of the more reputable precious metal sellers such as the Certified Gold Exchange are continuing to witness an impressive amount of investors leaving behind their failing stocks in exchange for historically safer investments like American Eagles and $20 Saint-Gaudens coins. There continues to be much fluctuation with safe haven investments, mostly due to the fact that confidence in financial markets is very unstable at the moment and many American investors simply don’t know what would be best for their portfolios. Things may start getting a little clearer in the near future as the global economy begins to flounder. For example, billionaire Warren Buffett has just recently said that the United States government’s effort to restore growth is “potentially very inflationary” and he also said that inflation could exceed the rates that were last seen in the 1970s. This could be very beneficial for several precious metal sellers, especially since gold and silver rare coins have a historical tendency to thrive during these difficult economic times.

Today the spot prices of precious metals are declining during the midday trading hours, and gold is currently at around $921.90 per ounce, down $16.50 or 1.76% for the trading day while silver is down $.40 to around $12.93 per ounce and platinum also falls $15 to around $1055 per ounce. Gold in particular has been projected to be one of the year’s best performing commodities, yet silver has the potential to surpass its growth level considering that many believe it is undervalued at the moment.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org