Daily Precious Metal Update

April 23, 2009 - Wise American investors are continuing to flock to gold and silver bars along with certified investment-grade rare coins, and it’s no surprise, especially after a heavy amount of negative economic data that has created even more fear about the future of the United States economy. Just yesterday, the International Monetary Fund forecasted a global economic contraction for 2009, and their chief economist Olivier Blanchard spoke about an economic recovery that may begin as early as next year, but a full recovery may take much longer than that. If we sit down and think about the long-term problems that could occur in our economy, we can see that our latest bank bailout and stimulus packages may result in either deflationary or inflationary pressures down the road. This being said, it’s wise that masses of investors are turning to gold and silver bars because there may not be other assets that hold the preservation potential that they do during this financial crisis.

By around 4 PM Eastern Standard Time, it appears that gold and silver bars are seeing a significantly higher increase in value along with the spot price of their respective metals that are climbing at the moment. The gold spot price currently sits at $903.70 per ounce, an increase of $13 for the day while the silver spot price currently sits at $12.78 per ounce, an increase of $.46 for the day and the platinum spot price currently sits at $1179 per ounce, an increase of $10 for the day.

Daily Updates Archive

Danny Burns

Senior Staff Writer – Precious-Metal.org