Daily Precious Metal Update

March 30, 2009 - A diversification into precious metals could make the difference between an investor who thrives during this financial crisis with a safe investment and one who loses massive portions of their wealth with unstable paper-backed investments. Gold in particular has commonly been referred to as a safe investment because investors flock to the metal when currencies are becoming devalued or when they fear that troubling times lay ahead. Several investors don’t understand the true potential of a safe investment because they may not have learned about historical movement that has occurred during similar economic times. In the past 5/6 economic recessions, the metal has increased in value substantially and this time around it seems no different. A wise investor who diversified their wealth into a safe haven assets in 2001 could have made more than 300% profit on their initial investment while in comparison, many stock investors would have lost nearly 50% of their wealth in the same amount of time.

It seems like precious metal spot prices are continuing in their downward motion for the second week in a row with the gold spot pricing at around $916.10 per ounce, a decrease of seven dollars for the day while the silver spot price loses $.30 to around $13.04 per ounce and the platinum spot price loses $11 to around $1113 per ounce. These spot prices are predicted to rebound by the end of the week as the negative economic data slipping in stirs more fear and confusion in the minds of investors nationwide. Happy investing.

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Danny Burns

Senior Staff Writer – Precious-Metal.org