September 18, 2009

September 18, 2009 – Gold and silver pulled back slightly during Friday morning trading as government officials flooded the wires with stories of an improving economy. Gold and silver prices tend to spike when mainstream financial markets underperform, as they have been doing the last few years. In the same breath that the Federal Reserve says that the recession is over and that a full recovery is well under way, officials from the Fed are using words like cautious, tepid, and unsure.

Janet Yellen, president of the San Francisco branch of the Federal Reserve, said that the gradual expansion put in place by the government is gaining steam, but that the economy is still vulnerable to shocks that could possibly topple stocks once again. Yellen believes that economic recovery will come far more slowly than most Federal Reserve employees, although some say that even suggesting the idea that a recovery is under way is out of line. Recent surges in unemployment and rising inflation fears that Yellen calls "real, growing, and disruptive" lead many Americans to believe that it could be years before the United States hits rock bottom. While stocks remain vulnerable to "shock drops" and interest-bearing accounts lack satisfying return rates, many investors are sitting tight in commodities like gold and silver, which could break historical highs before the holiday season begins.

Gold and silver spot prices, which are always available at, dropped slightly in Friday morning’s trading session. Gold is valued at $1012 per ounce, while silver dropped $0.11 to $17.10 after a higher-than expected push earlier this week.

Shannon King

Senior Staff Writer –

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