February 3 - Daily Precious Metals Update

February 3, 2009 – Precious metals have experienced some hefty fluctuation today and are currently all in the negative area but are predicted to increase by the end of the week as a result of the unemployment and corporate loss news that is scheduled to arrive then. Although prices have been decreasing for the second day in a row, it’s important to know that the overall demand for long-term safe haven assets has increased and more and more people are considering precious metals because of their historical tendency to thrive during struggling economic times. This being said it could be an excellent time to invest in precious metals before it’s too late and the masses of investors corner in the market due to the fact that they cannot find proper preservation anywhere else except with gold, silver and platinum. Let us see what 2009 has in store for us.

All precious metals fell to today, with gold coming down to around $896.50 per ounce, an $8.30 decrease for the day but still a $21.60 increase for the month while silver falls four cents to around $12.39 per ounce and platinum comes down $12 to around $958 per ounce. Projections for all metals are looking optimistic, so consider making a long-term investment today to reap the rewards of this historically powerful investing strategy. I wish you the best luck when investing in gold, silver and platinum and have an excellent day.

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Arthur McGuire

Senior Staff Writer – Precious-Metal.org