Daily Precious Metal Update

February 10, 2009 – Investors around the nation are desperately seeking a safe investment to own especially when the majority of equities are crumbling due to failing corporations and other investments that were once thought to be “safe” are at risk due to high inflation. Precious metals have become a very attractive investing method lately since they have the ability to profit and preserve hard-earned wealth during these troubled economic times. Although for example, gold is not considered a safe investment, when comparing it to the volatility of anything that is tied to the United States Dollar right now, it definitely makes sense to own some with the potential that the market has the moment. Today, the United States Senate will make the decision to either pass or reject President Barack Obama’s $838 billion stimulus plan and it has been predicted that the future of precious metal prices will be dependent on the results.

During midday trading we’re seeing gold moving up to around $910.10 per ounce, and increase of $15.10 for the trading day while silver also moves up $.13 to around $13.14 per ounce and platinum following their lead by moving up $48 to around $1037 per ounce. The latest market projections for precious metals are showing signs that we may be in an era that leaves behind the traditional safe investment methods in exchange for gold, silver and platinum. We will just have to wait and see. I wish you the best luck when investing.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org