Daily Precious Metal Update

June 3, 2009 - The increasing instability with the United States economy is causing many wise investors to diversify their hard-earned wealth into safe haven assets, and it’s very important that you understand the difference between physical possession bars and coins and precious metal funds. Physical possession bars and coins are commonly seen as the most secure form of safe haven diversification because you get to hold the gold, silver or platinum in your hands, as opposed to having a company holding it for you. Many investors who seek the highest level of security usually diversify into physical possession precious metals, yet others don’t like to deal with the pressure of holding the metal in their hands, thus they turn to precious metal funds. These precious metal funds have been increasing in popularity in the past few years, yet the majority of American investors haven’t considered the fact that corporations in general are floundering across the nation, and what would happen if your hard-earned wealth was invested in a company that collapsed today? Many of these companies do not guarantee that you receive your metal or money back, thus making it a more dangerous, yet easier to manage investment.

By around 5:15 PM Eastern Standard Time, precious metals are declining in value across the board as the United States Dollar strengthens, and gold is trading at around $962.60 per ounce, down $18.50 for the day while silver is trading at around $15.32 per ounce, down $.64 for the day and platinum is trading at around $1235 per ounce, down four dollars for the day.

Daily Updates Archive

Danny Burns

Senior Staff Writer - Precious-Metal.org