Daily Precious Metal Update

February 5, 2009 – Gold bar prices are the talk of the day as even the most pessimistic investors are purchasing as many bars and coins that they can right now with the possibility of some significant increases in value imminent in the near future. Today we are experiencing a surge of investors flocking to the market and they are pretty much picking up anything that they can get their hands on, from bullion bars and coins to certified rare coins and exchange traded funds. The fear that the upcoming $819 billion stimulus plan could cause our Dollars to be worth nearly nothing is creating a lot of worried people and where do they turn to during times like this? Gold. This is the reason why we’ve been seeing gold bar prices increase in the last two days despite the fact that many people thought that the price of the metal would go back down to the $800 range after an “overdone rally” last week that brought the metal to its six-month high.

Precious metals in general are doing great today, with gold at $919.70 per ounce, up $13.80 for the trading day and also up $56.20 in the last 30 trading days while silver moves up $.25 to around $12.79 per ounce and platinum also continues to move in the upward direction to around $977 per ounce. There’s a lot of potential right now for gold bar prices as well as other precious metals, which is why it definitely makes sense to own some during this historic period in time. Invest well and have a great day.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org