Dailyl Precious Metal Update

April 27, 2009 - Precious metal bars and coins in the gold and platinum varieties are losing value today while silver is increasing in value based on higher industrial demand along with a little bit more long-term investment demand. Inflationary fears continue to grow in the United States after the interesting comment by the International Monetary Fund saying that the global financial crisis is showing signs of turning into a “human calamity.” They also said that unless substantial aid is given to between 50 and 100 million people in the near future, that extreme worldwide poverty might result. This is causing many wise American investors to feel that the recessionary cycle is nowhere near over, which in turn could spike safe haven demand for precious metal bars and coins because historically they increase in value when mainstream financial markets fail. The crisis is not over yet, and it appears like the light at the end of the tunnel seems further and further away…

By around 2:30 PM Eastern Standard Time, precious metal bars are fluctuating moderately with the daily market spot prices that seem to have a mind of their own at the moment, with gold currently trading at $908.20 per ounce, falling $4.80 for the day while silver is currently trading at $12.98 per ounce, increasing nine cents for the day and platinum is currently trading at $1135 per ounce, falling $40 for the day. Several investors are eagerly awaiting further economic data that may show signs of an upcoming recovery, or collapse.

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Danny Burns

Senior Staff Writer – Precious-Metal.org