Daily Precious Metal Update

April 15, 2009 - Precious metal investing is becoming more popular amongst investors who want to preserve their long-term spending power, and today the metals are increasing in value as global stocks have halted their rally. The MSCI World Index of stocks has fallen .6%, marking the second straight day of losses. This short-term market movement is causing sentiment change as investors are beginning to realize the dangers of owning stocks considering the fact that they are tied directly to the overall strength of the United States Dollar. In other news, the Standard & Poor’s 500 Index is showing negative quarterly earnings so far this year that are a direct result of consumers either holding onto their hard-earned wealth in cash or beginning precious metal investing that may be both a profitable and preservative tool down the road. A proper diversification in safe haven metals may be the difference between a winner and loser in today’s ever worsening economy.

At around 4 PM Eastern Standard Time, precious metal investing seems to be benefiting from the latest negative economic data, and gold currently sits at $890.30 per ounce, up one dollar for the day while silver currently sits at $4.70 per ounce, up four cents for the day and platinum currently sits at $1219 per ounce, up $16 for the day. The latest short-term market projections are expecting future inflation levels to continue influencing precious metal spot prices, so make sure you keep a close eye on the strength of the United States Dollar and don’t forget to invest while you still can.

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Danny Burns

Senior Staff Writer – Precious-Metal.org