Daily Precious Metal Update

April 2, 2009 - Precious metals funds come in different shapes and forms, but the most popular seems to be the physical possession gold and silver because investors are flocking to both of these metals that historically act as the ultimate preservation tool when their respective fiat currency is becoming devalued. All around the nation unemployment is rising at dangerous rates while corporations are collapsing as a result of the worst financial crisis the United States has seen in decades. Wise investors are turning to precious metals funds in order to potentially protect their hard-earned wealth from the negative economic scenarios that are imminent. Gold in particular is already up 3.6% for the year while the MSCI World Index of stocks is down 9.2% for the year. It’s very clear that precious metals funds could become some of the most powerful investments to own throughout this financial crisis, and this is probably why market analysts expect them to outperform most other asset classes this year.

During the midday trading hours, precious metal spot prices are running in odd directions yet again, as the gold spot price falls to $906.30 per ounce while the silver spot price falls to $12.97 per ounce and the platinum spot price increases to $1152 per ounce. The safe haven metals have seen losses for the day while platinum in particular has increased based on speculation that the United States economy could recover and that automaking corporations may rebound as a result. Happy investing and don’t forget to diversify well.

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Danny Burns

Senior Staff Writer – Precious-Metal.org