Daily Precious Metal Update

February 4, 2009 – Precious metal prices all continue to increase in value as a variety of external economic factors are driving investors into purchasing safe haven investments during these more difficult than usual times. The United States Dollar, stocks, crude oil and unemployment rates are just some of the things that are worrying many American citizens at the moment, which is why people are looking to alternatives such as gold, silver and platinum, which make more sense to own now than ever before. The excessive amount of money that will be printed during 2009 could cause some serious long-term inflation and many believe that there is no out of this mess for at least another 10 to 15 years. The heightened possibility of another Great Depression is another reason why precious metal prices are increasing in value quickly just like the beginning of the Depression. Investors simply aren’t finding safety in anything else besides metals at the moment, which could signal some troubling times to come.

Today the gold spot price come up to $907.10 per ounce, up $6.50 for the day and also of $48 for the month while silver moves up nine cents to around $12.54 per ounce and platinum moves up three dollars into the area of $964 per ounce. It has been recommended by many banks and financial institutions to pick up some gold, silver and platinum before precious metal prices go through the roof. Invest well and have a great day.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org