Daily Precious Metals Update

January 26, 2009 – The latest silver projections are looking positive for the metal and at the moment investors in general are feeling bullish about the future of gold, silver and platinum. Today we’re seen the United States Dollar fall versus other major currencies which is driving many investors into precious metals which in turn has extended the gains for the third straight session today and gold has spiked up 12% in the last 11 days to a three-month high of $916 per ounce earlier this morning. Things are really looking good for precious metals and not so much for the economy, as President Barack Obama’s scheduled $825 billion stimulus plan may or may not help the economy but will almost certainly cause some long-term inflation which in turn could make the gold and silver projections a reality and not just some speculative opinion. This looks to be like a very powerful year for the metals as the financial crisis continues to worsen because they are historically an ideal investment during current times.

Today all precious metals increased in value with gold spiking to around $905.50 per ounce, a $7.20 increase for the day and a $36.80 increase in the last 30 days while silver moves up $.19 to $12.12 per ounce and platinum jumps up $6 to around $957 per ounce. The latest gold and silver projections are saying that the metals could increase to around 25% higher values by the end of the year while platinum should be at around 5% to 10% higher depending on the demand for automobiles by 2010. Let’s see what the year has in store for us. Have a great day and invest well.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Precious-Metal.org