Daily Precious Metal Update

May 11, 2009 - Precious metals investing is a diversification method that could assist many investment portfolios which seek either short-term profit or long-term preservation potential. This being said, precious metals investing can be divided into two major categories, the first one being bullion investing and the second one being certified rare coin investing. Bullion investors typically like to enter the market when the spot price is low and exit when the spot price is higher in order to make short-term profit while certified rare coin investors typically like to enter the market preferably when the spot price is low and hold onto their coins for several years in order to acquire both long-term preservation and profit. Precious metals investing can be confusing to investors who have never diversified into the market, and this is why the Certified Gold Exchange always recommends that investors deal directly with an expert in the field in order to potentially maximize their profit and preservation potential.

By around 3:20 PM Eastern Standard Time, it appears like the three major investment-grade precious metals are declining for the trading session, with the gold spot price currently sitting at $913.40 per ounce, down $2.80 for the day while the silver spot price is currently sitting at $13.95 per ounce, down four cents for the day and the platinum spot price is currently sitting at $1117 per ounce, down $30 for the day. Gold and silver in particular may extend their gains this week as safe haven demand could spike as a result of inflationary pressures and bank stability fears.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org