Daily Precious Metal Update

February 13, 2009 – The search for the ultimate safe precious metal continues and many have found this with both gold and silver bullion bars and coins as well as certified investment-grade rare coins. It’s really hard to say that anything is safe at the moment but if we compare gold to stocks for a moment we can see that while the safe precious metal has increased in value more than 300% in the last eight years, stocks have been at a decline, and the hardest hit equities have fallen nearly 65%. Today we see precious metals take a step back after some major spikes in pricing in the last few weeks as a result of many investors seeking the profit and preservation potential that they offer.

Gold moved down to $939.50 per ounce, falling $7.70 for the trading day but still at an increase of $129.40 for the month while silver continues to fall $.16 to around $13.34 per ounce and platinum also drops a bit down to $1063 per ounce. Although today we are seeing prices fall as a result of the short-term selling, it is projected to not last long especially when the new unemployment and job loss facts get releases as the month continues. Luckily, with a safe precious metal like gold or silver, we can hedge our assets from the problems to come. I wish you the best luck when investing and don’t forget to use reputable companies like the Certified Gold Exchange or Kitco for all your precious metal needs.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org