Daily Precious Metal Update

February 12, 2009 – Wise investors nationwide continue looking for the best precious metals to own during this economic recession and they are finding the answer with gold bullion coins like the American Eagles and Austrian Philharmonics as well as certified investment-grade rare coins like the $20 Saint-Gaudens and the $20 Lady Liberties. As far as investing his concerned, the best precious metals would have to be something that has a historical tendency to act as a safe haven from inflation, which is something that we could experience heavily in the next few months. Gold and silver have acted like this for several years and the latest predictions are saying that they will continue their preservative qualities. Platinum on the other hand is a little bit speculative considering that it is directly related to the automobile industry that is being hit hard right now with the increased amount of American citizens holding on to their savings instead of spending it on cars.

Today we’re seeing precious metals increase in value with gold coming up to $948.40 per ounce, up $9.30 for the day and also up $128.10 for the month while silver stays flat at $13.53 per ounce and platinum moves of three dollars to around $1071 per ounce. Gold and silver are proving to be some of the best precious metals to own at the moment and with the bullish projections saying that they could increase significantly by the end of the year it really doesn’t make any sense to not own any at the moment. I wish you the best luck with investing in precious metals.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org