Daily Precious Metal Update

March 17, 2009 - Some slight pressure is being experienced with precious metal gold, yet there are still many investors who are taking long-term positions in order to secure their investment portfolios with an asset that has the potential to survive this menacing financial crisis. The latest economic news coming from the United States Government is trying to build some temporary confidence in order to boost stocks and the United States Dollar, but wise precious metal investors don’t feel like the whole truth is being released, thus they are continuing to diversify into precious metal gold like the beautiful American Eagles and $20 Saint-Gaudens coins. There’s also been some speculation saying that the metal could rebound significantly once the demand increases for an alternative to currencies, which could be seen in the upcoming weeks based on whether or not economic data gets worse. Overall, the trend for precious metal gold seems bullish in the long-term perspective, yet a bit unstable in the short-term.

Several investors around the nation are beginning to take advantage of today’s lower spot prices which has gold trading at around $915.40 per ounce, silver trading at around $12.67 while platinum trades at $1044 per ounce, all decreasing in value for the day. Short-term projections are saying that the metal could experience some resistance once it reaches $950 per ounce, but after that the sky is the limit and many are predicting $1500 per ounce by year’s end. Let’s see if precious metals have the potential to continue pressing forward amidst the downfall of mainstream financial markets…

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org