Daily Precious Metal Update

May 13, 2009 - Precious metals investments have increased in popularity since 2001 when several market analysts projected that the economy would spiral down into the next recessionary cycle. Unfortunately, many investors didn’t pay attention to those forecasts because they were too busy with stocks and real estate that were reaching their peaks. Sure enough, as the economy began to worsen and inflation grew, gold and silver in particular began increasing in value exponentially. Back then, gold was trading at around $300 per ounce while silver at around four dollars per ounce, and today these prices are more than triple those values, signalling a 300%+ gain. Many bullish market analysts and big-time investors believe that we are currently in the middle of a cycle that could be very beneficial to precious metals investments and not so good for mainstream financial assets like stocks, bonds and real estate. Fortunately, wise investors are beginning to catch on to this trend and beginning the appropriate precious metals investments before the economy gets any worse.

By around 2:25 PM Eastern Standard Time, it appears like precious metal spot prices are headed in odd directions, and this could be a result of significant economic uncertainty about the future of the United States financial crisis. Currently, gold is trading at around $926.50 per ounce, up $3.60 for the day while silver is trading at around $13.96 per ounce, down $.26 for the day and platinum is trading at around $1109 per ounce, down $22 for the day.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org