Daily Precious Metal Market Update

September 2, 2009 – The precious metals market is seeing some minor fluctuation today as economic data from various different sectors shows mixed results, with some data showing a positive future, while other data is showing a negative future for our economy. There seems to be a small amount of physical buying at current levels, yet nothing significant enough to drive prices up to their all-time record highs. According to several market analysts, now may be a good time for safe haven investors to enter the precious metals market because short-term projections are looking increasingly bullish, with some forecasting that gold in particular may surpass its all-time record high of $1033 per ounce by next month if the United States Dollar Index continues showing instability.

Gold Spot Price = $951.20 per ounce, increasing $.30

Silver Spot Price = $14.80 per ounce, decreasing $.10

Platinum Spot Price = $1232 per ounce, decreasing $6.00

All eyes are currently on the United States Dollar as investing markets in general are being led by fluctuation with the fiat currency. Some of the latest economic reports have shown that many American investors are still very unhappy with the state of our current financial system, and this comes as no surprise especially after our massive overprinting and quantitative easing measures that have put us into a deep recessionary hole. Fortunately, the precious metals market tends to thrive during troubling economic times, and several times in the past spot prices have increased exponentially amidst both inflationary and deflationary environments. This being said, don’t hesitate to pick up a few bars and coins if you feel that you could protect yourself with some of history’s most preservative assets.

Daily Updates Archive

Danny Burns

Senior Staff Writer - Precious-Metal.org