Learn About Precious Metal Spot Prices Directly With Precious-Metal.org

November 19, 2009 – Precious metal spot prices have relentlessly climbed this week, and even a small amount of profit-taking yesterday couldn’t prevent the gold spot price from reaching a new all-time high. Profit-taking usually lowers precious metal spot prices, but the dollar has tumbled uncontrollably recently and caused commodities priced in dollars to rise.

The international community has caused a lot of hubbub lately with its demand for commodities to be priced in a currency other than dollars. The dollar’s fall has aided many commodity prices, because investors require more US dollars to purchase gold, silver, cotton, etc. Savvy investors have increased their holdings in physical commodities, because the dollar’s continuous fall could continue to mean higher commodity prices.

Investors especially value precious metals because they are easily stored, unlike other commodities like sugar, cotton, and livestock. Liquidity can become an issue with these assets, but precious metals have had a steady market for over 5000 years. Investors buy precious metals for profits, but today’s investors are especially interested in the protection that comes with owning physical precious metals.

After reaching an all-time peak of $1153 on Wednesday, the gold spot price has retreated slightly. Gold is now valued at $1142 per ounce, which is a 7.3% growth in the last 30 days. Silver is selling for $18.45 per COMEX ounce, and platinum is valued at $1446 per ounce, which is down $11 on the day. To get live precious metal spot prices or to enhance your portfolio with precious metals, give us a call or register for your free copy of our helpful precious metal investment tutorial. 

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Danny Burns

Senior Staff Writer - Precious-Metal.org