Daily Precious Metal Update

April 14, 2009 - Sentiment changes are occurring in financial markets as American investors are beginning to feel that stocks could increase in the short-term as a result of the latest positive economic data, thus putting pressure on precious metal pricing. Federal Reserve Chairman Ben S. Bernanke just recently stated that the “sharp decline” in our economy might be easing as a result of increasing home and car sales as well as higher consumer spending. In other news, inflation at the wholesale level fell much more than expected last month after two consecutive months of price spikes, yet several market analysts believe that inflation will become apparent down the road once American investors realize the true dangers of more than $10 trillion in stimulus and bank bailout packages. Historically, precious metal pricing increases when inflation is on the rise, and fortunately wise investors can take advantage of this by diversifying their hard-earned wealth appropriately into the correct safe haven investments.

At around 4 PM Eastern Standard Time, precious metal pricing appears to be preparing to close a day off on a decline as the gold spot price sits at $889.60 per ounce, down three dollars for the trading day while the silver spot price sits at $12.74 per ounce, staying flat for the trading day as the platinum spot price falls $32 to around $1205 per ounce. Market projections are expecting the recent sentiment change to flip once further negative economic data becomes released, so make sure you keep a close eye on any important news that may fluctuate pricing down the road.

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Danny Burns

Senior Staff Writer – Precious-Metal.org