Find Out More About The Latest Precious Metal Rally With Precious-Metal.org

November 5, 2009 – The precious metal rally that started in 2001 is still going strong, as the gold spot price reached a new all-time high of $1099 yesterday afternoon. After gold reached $1071 per ounce last month, silver’s spot value was elevated to $18 levels. Both metals subsequently pulled back slightly, but this temporary setback was pared by this week’s substantial gains.

Gold has recorded a 3.8% gain this week alone, which is remarkable considering most investors are getting less than that in 2 years with a traditional savings account or certificates of deposit (CDs). Silver has rebounded from the low $16 range to $17.41 this afternoon. Many investors thought that the current precious metal rally would stall because of the dollar’s supposed strengthening, but long-term projections are that our greenback will continue to falter. Until the Federal Reserve and US Treasury team up to do anything more than needlessly run the printing presses and spend money, bleak projections will most likely prevail.

Despite the recently strengthening dollar index, which usually prompts lower precious metal prices, gold and silver have not halted their upward march. Safe-haven demand is at an all-time high, because consumers are afraid of what the future may hold for the United States economy. If national morale continues to worsen, the precious metal rally could continue for an unprecedented length of time. In the last cycle, gold climbed for over almost two decades. If you feel that precious metals are a good way to protect and grow your wealth, contact www.Precious-Metal.org at 800-300-0715. 

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Danny Burns

Senior Staff Writer - Precious-Metal.org