Daily Precious Metal Update

February 24, 2009 – Precious metal pricing is falling for the trading day as the rallies to safe haven investments in the last few weeks have caused prices to skyrocket and thus short-term investors want to take advantage of this profitable opportunity. Investors around the world are reconsidering many investments at the moment, especially the ones that are tied directly to a fiat currency such as stocks and bonds because of the risk that they pose if paper currency becomes devalued. The global financial crisis is wreaking havoc in almost every investing market, which is why the wise investors who want to preserve their wealth are taking the opportunity to enter while precious metal pricing is low compared to the projections that they could reach in the future. Many of these projections are even saying that prices could reach more than 200% than they are at right now in the upcoming years if equities continue to crumble and inflation continues to destroy nearly everything in its path.

Precious metal pricing opened the day with a small tumble that has brought gold to around $968.70 per ounce, down $23 or 2.32% for the trading day while silver also fell $.46 to around $13.95 per ounce and platinum followed the downfall by losing $31 to around $1044 per ounce. As governments around the world rush to fix their economic systems by injecting trillions of paper dollars into them, it has been projected that inflation could be in full effect within the next 12 to 18 months. I wish you the best luck when investing in precious metals and remember to pick up a few bars or coins before it’s too late.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org