Daily Precious Metal Update

April 22, 2009 - Precious metal forecasts are increasing yet again after several market analysts along with the International Monetary Fund have officially forecasted that the United States recession will continue to get worse, and this is increasing the overall physical possession demand for gold, silver and platinum. Negative economic data has been the main driver for precious metal forecasts since the beginning of the year, and investors have seen both bearish and bullish outlooks for 2009, yet it appears like the bullish outlooks are taking prominence so far this year with everything from banks to massive financial institutions showing signs of increased vulnerability. The wise investors who already own precious metals are eagerly awaiting even more negative data, which may begin an avalanche effect of investors purchasing safe haven assets during the worst financial crisis since the first United States Great Depression. Risk aversion has been the talk of the week, and it has already been highly recommended that Americans begin the proper safe haven diversifications before it’s too late.

By around 4 PM Eastern Standard Time, it appears that all noble metals are increasing in value, with gold sitting at around $891 per ounce, moving up $7.70 for the trading day while silver is sitting at around $12.32 per ounce, moving up $.26 for the trading day and platinum is sitting at around $1172 per ounce, moving up $19 for the trading day. The latest precious metal forecasts continue to look more bullish than in the beginning of the year, and more market analysts are beginning to believe that this may be a prime year for safe haven investments.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org