Daily Precious Metal Update

April 10, 2009 - Precious metal projections have been bullish since the beginning of the year, and lately there have been some rather interesting projections coming from J.P. Morgan and GFMS that are expecting further increases in spot prices throughout the year. It’s important to know that several of these precious metal projections are increasing based on the fact that inflationary pressures are becoming more apparent by the day, and just last month, United States imported goods rose by almost 1%. Although this may sound like a very small number, it may just be the beginning of a high inflationary period for our economy. Wise investors are taking preventative measures in order to protect their hard-earned wealth by diversifying into safe haven assets like gold and silver that are expected to outperform most other asset classes throughout the year. Before this occurs, sharp declines must be seen with stocks and the United States Dollar, and both George Soros and Marc Faber are expecting this to occur in the near future as inflationary pressure continues to pound at our economy.

Precious metal spot prices are moving in mixed directions yet again, and the gold spot prices sits at $877.90, moving down $2.10 for the trading day while the silver spot price sits at $12.34 per ounce, moving up eight cents for the trading day and the platinum spot price sits at $1187 per ounce, moving up $12 for the trading day. Precious metal projections for safe haven investments are proving to be more bullish than expected, and one of the most interesting projections comes from metals researcher GFMS saying that gold could reach $1100 per ounce and higher as a result of a flock to safe haven assets.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org