Daily Precious Metal Update

February 27, 2009 – Precious metal coins have played a crucial part in asset diversification lately and with such a high potential to see growth in the upcoming months as a result of a tumbling economy, more and more investors are contacting companies such as the Certified Gold Exchange in order to obtain excellent market assistance and competitive prices. There are many precious metal coins that have proven to be ideal for safe haven investors such as the American Eagles, Austrian Philharmonics, $20 Saint-Gaudens and Indian Head rare coins. The latest GDP news is showing that the United States economy has contracted about 6.2% in the last few months, which is the worst contraction we’ve seen in over 27 years. As the global economy continues heading in a downward motion, the long-term physical possession demand for precious metal coins could increase substantially as the potential for profit and preservation arises due to concerns of an upcoming depression.

Precious metal spot prices are following the same trend that we saw yesterday, with gold moving down to around $936.40 per ounce, a decrease of $9.10 for the day while silver also falls four cents to around $13.08 per ounce and platinum continues its increase of $14 to around $1066 per ounce. Several short-term projections are out-looking a rebound in safe haven assets in the upcoming weeks that could last until midyear as a result of our recently approved stimulus plan taking several months to take full effect. I wish you the best of luck when investing.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org