Daily Precious Metal Update

May 20, 2009 - Precious metal bullion bars are some of the most popular safe haven diversifications available because their cost is only slightly higher than the daily market spot price, usually no more than 5%. There are many different types of precious metal bullion bars from all around the world, yet American investors typically diversify into the more popular Credit Suisse, Pamp Suisse Johnson Matthey and Engelhard bars because they have the longest history of wealth preservation. The current economic environment has caused many investors to shift their investment funds from mainstream investing markets into precious metals because the metals have historically thrived during recessionary cycles. For example, gold increased in value more than 1000% in the late 1970’s when the United States was experiencing dangerously high inflation after abandoning the gold standard in 1974. Market analysts, financial institutions and many investors believe that similar market movement may occur during this current recessionary cycle, especially since our economy is currently in the worst state since the Great Depression.

By around 4 PM Eastern Standard Time, the majority of precious metal bullion bars are seeing moderate gains for the trading session as spot prices seem to be gaining across the board due to higher investment and industrial demand. Currently, the gold spot price sits at $938 per ounce, increasing $13 for the trading day while the silver spot price sits at $14.29 per ounce, increasing $.14 for the trading day and the platinum spot price sits at $1143 per ounce, increasing four dollars for the trading day.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org