Daily Precious Metal Update

September 8, 2009 – Higher safe haven demand is driving wise American investors into various types of precious metals as the United States Dollar Index continues showing short-term weakness based on growing optimism about an economic recovery. Earlier in the year, market analysts projected that an economic recovery could occur before 2010, and it appears that the United States Government is doing everything in their power in order to make this happen. Unfortunately, the United States Dollar is experiencing significant problems because many investors and market analysts believe that the fiat currency could experience danger down the road once inflation sparks after the Federal Reserve increases interest rates. This being said, it&rsquos no surprise that investors continue turning to the different types of precious metals in order to potentially protect their hard-earned wealth from inflation, deflation and anything in between.

Gold Spot Price = $1001.90 per ounce, increasing $7.30

Silver Spot Price = $16.67 per ounce, increasing $.45

Platinum Spot Price = $1282 per ounce, increasing $29.00

There are several different types of precious metals that investors purchase for safe haven purposes, and typically the most common metals are gold and silver. In the past eight years, gold and silver have increased more than 300%, outperforming many stock, bond and real estate markets. Several market analysts are forecasting further gains for these metals if fiat currencies continue to devalue down the road. If spot prices surpass their all-time record highs within the next few months, wouldn&rsquot you like to thrive with a few bars and coins?

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Danny Burns

Senior Staff Writer - Precious-Metal.org