March 10, 2009 – The precious metals market is experiencing a few more declines for the second day in a row as investors flock to the stock market in order to profit from a recent surge that has brought the Dow Jones Industrial Average up 4.1% for the day. Many market analysts believe that this is a temporary situation that will rebound like it usually does once the usual round of negative economic data begins to flow in for the month. The biggest fear for investors at the moment is losing any more of their hard-earned wealth, yet many do not understand that the United States could be in a battle with hyperinflation due to the exorbitant amounts of fiat currency that has been injected into our economy. This will almost certainly be negative for equities and the United States Dollar while most likely being beneficial for the precious metals market that has historically thrived during similar times. It’s no doubt that our economy is in serious trouble at the moment, and with the unemployment rate reaching the highest seen since 1983, is the world moving forward or backwards?
Today the precious metals market has taken a few hits, with the gold spot price currently sitting at around $895.80 per ounce, down $25.70 for the day while the silver spot price moves down $.40 to around $12.54 per ounce and the platinum spot price moves down $22 to around $1037 per ounce. These recent prices could mean an opportunity for wise investors to enter while the market is at a decline.
Senior Staff Writer – Precious-Metal.org