Daily Precious Metal Update

May 14, 2009 - Precious metals have without a doubt become a hot topic in the conversations between investors and market analysts because they have proven significant profit and preservation potential in the last eight years that remains unmatched by several mainstream financial markets. Precious metals basically refers to a metallic elements that holds high economic value, and investors nowadays typically trade either gold, silver or platinum because they have become the most popular metals due to their prominence in investing markets. Gold is by far the most popular precious metal because it has been a store of value and currency for thousands of years, followed closely by silver. Platinum on the other hand is known more for its industrial usage in catalytic converters that control emissions in automobiles. The Certified Gold Exchange always recommends that investors new to the market work with expert investment advisors in order to find out exactly which safe haven metal may be appropriate for their investment goals and needs.

By around 4:30 PM Eastern Standard Time, it appears like precious metals are taking small steps back today as uncertainties linger about the future of financial markets and commodities, still the gold spot price sits at $925.70 per ounce, down $.40 for the trading day while the silver spot price sits at $14.04 per ounce, up eight cents for the trading day and the platinum spot price sits at $1111 per ounce, down one dollar for the trading day. Short-term forecasts are expecting gold and silver to begin heading in the upward direction yet again once the latest negative economic data creates significant safe haven demand as it has done the past

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org