April 16, 2009 - Precious metal spot prices are declining today as the risk-taking demand for unstable stocks and bonds increases after the latest short-term positive economic data showing that several corporate earnings reports are higher than expected. Earlier this morning I was reading an interesting article on Kitco.com that quoted Mineweb’s Marc Davis, and it basically spoke about the recent rally to American stocks that may witness a complete collapse with the possibility of falling to the lowest index averages we have ever seen in our lives. It also spoke about the increased economic confidence that United States investors feel at the moment and that it is completely misplaced. Finally, the most interesting part about the article was a summer gold projection of $1000-$1200 per ounce because of the fact that precious metal spot prices historically increase in value when other financial markets are floundering. Does it make sense to get involved in a good thing? If so, then now may just be the ideal time to take advantage of the market by beginning a diversification that is right for your portfolio goals.

Near the end of the trading day, precious metals spot prices have witnessed sharp declines as safe haven demand falls amidst the latest cloud of confidence into the American equities, and gold is currently trading at $874.40 per ounce, moving down $16.20 for the trading day while silver is currently trading at $12.22 per ounce, moving down $.54 for the trading day and platinum follows their lead by falling $14 to around $1203 per ounce.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org