Daily Precious Metal Update

May 8, 2009 - Instabilities with the United States economy and the dollar is causing many wise investors to turn to precious metal coins that have shown impressive profit and preservation potential during recessionary cycles similar to what we are experiencing at the moment. Economic problems such as the rising unemployment and growth contractions have driven masses of investors to shift away from mainstream stocks, bonds and real estate in exchange for precious metal coins like the American Eagles, Canadian Maple Leafs, $20 Saint Gaudens and $10 Indian Heads. Depending on the investor’s goals, there are two main types of precious metal diversifications, the first one being modern-day bullion products while the second are the investment-grade certified rare coins. Profit-seeking investors typically diversify into the modern-day bullion products because they fluctuate closer to the daily market spot price of their respective metal while preservation seeking investors typically diversify into investment-grade certified rare coins because they tend to hold value a little bit better than standard bullion products, plus several of them cannot be confiscated by the United States Government in the event that the economy collapses.

Precious metal coins have seen quite an impressive week with their respective spot prices climbing up quite well. The gold spot price currently sits at $915.10 per ounce, increasing $5.10 for the day while the silver spot price currently sits at $13.97 per ounce, increasing $.18 for the day and the platinum spot price currently sits at $1145 per ounce, remaining flat for the day.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org