Daily Precious Metals Update

January 29, 2009 – Precious metals investing is thriving at the moment due to a large amount of investors flocking to the gold market once again with hopes of hedging their assets from further inflation that is destined to be seen here in the next few months. So far the economy looks to be getting worse every single day and with current unemployment levels peaking to 4.78 million Americans, we need a lot of help to put us back on the easy track. President Barack Obama’s $819 billion stimulus plan was approved yesterday by the United States House of Representatives, and it could be the determining factor that either drives us away from the recession or digs us into a Depression. Only time will tell what 2009 has in store for us but the majority of banks and financial institutions are saying that this may be the ideal time to consider precious metals investing if you have not done so already because it may just be the only investment that actually thrives during this economy.

Today’s daily market gold spot price increased to around $893.70 per ounce, up $7.30 for the trading day and also up $13.10 in the last 30 trading days while silver continues to climb $.12 to around $12.07 per ounce and platinum moves up $20 to around $969 per ounce. Precious metals investing is projected to be very bullish this year with prices estimated to rise around 30% dependent on the future of the economy. Invest well and have an excellent day.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org