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October 7, 2009

October 7, 2009 – Gold and silver prices barely fluctuated on Wednesday, with minimal gains seen in both metals by 4pm EST. Gold reached a new historical high for a second consecutive day, and the new record-high gold spot price is $1049.50 on www.Kitco.com. Silver posted a $0.14 profit this afternoon, after a relatively slow morning trading session prevented that metal’s spot price from climbing. Some inquisitive individuals are researching gold and silver right now, but not because of their pre-holiday season shopping habits.

Investment-grade precious metals have been touted as assets that consumers could flock to in the coming years, if our empowered decision-makers fail to restore the confidence that we once had in our traditional investments. Our leaders in Washington have implemented a bailout and stimulus plan that has given emergency assistance to failing banks and dysfunctional corporations, and our government officials have told us that our nation will fail without some of these conglomerates. Apparently, our lawmakers have forgotten that a chain is only as strong as its weakest link, so mortally wounded companies could drag down our already debt-laden economy. 

Some investors fear that our financial markets could be further manipulated by our government, and they seek self-empowerment over this volatile predicament. Gold and silver may be the answer for some of these investors, because these metals offer global liquidity, and the added benefit of a privately held asset. Reputable gold dealers recommend bullion items for short-term investors, and rare coins may do better financially for security-seeking investors who are looking for a way to preserve their wealth over an extended period of time.  

Shannon King

Senior Staff Writer – GoldSilver.org

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