January 13 - Daily Precious Metal Update

January 13, 2009 - Precious metal values decrease a bit today as the United States Dollar strengthens and commodities fall as a result of this. Gold, silver and platinum have all seen some downward fluctuation today in the United States Dollar continues to gain momentum and other currencies such as the Euro plummet after the European Central Bank plans to cut rates in order to keep up with the failing European economy. These decreases in precious metal values are expected to not last long as worried investors could be returning to the metals once again as the economy continues to worsen and this immediate surge in demand for the metals could be seen very soon. It’s only a matter of time before most mainstream investors diversify into gold, silver and platinum due to all other investments failing during these dark economic times.

Gold is currently trading at around $825.60 per ounce, which is a $28 decline for the day and a $3.60 increase in the last month. Silver is currently trading at around $10.70 per ounce, down $.48 for the trading day while platinum loses $31 down to $958 per ounce. Precious metal values are projected to increase significantly this year and even the most speculative projections could become a reality due to the current weakened state of the global economy. Let’s hope things don’t get too bad, but if they do, precious metals investors know that they have something that can protect them during difficult times. Until tomorrow, have a great day!

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Arthur McGuire

Senior Staff Writer - Certified Gold Exchange