October 8, 2009

October 8, 2009 – New jobless claims fell last week, giving investors a sign that troubles in our economy may be easing. This did not transfer into a drop in gold and silver prices, however, as many economists had predicted. Gold and silver are usually valued more when economic problems persist, because they have historically maintained their status as safe-haven investments. Gold’s active spot price is $1058.80, which is a 1.26% gain so far today. Silver is up 1.4% this morning, with one ounce of silver currently trading at $17.82 on the Commodities Exchange(COMEX) division of the New York Mercantile Exchange(NYMEX).

Our nation’s Labor Department announced on Thursday that new claims for unemployment benefits dropped to 521,000 last week. This figure is better than the 540,000 applications that Wall Street economists expected, but our nation’s new unemployment applications remain well above the 325,000 per week that most economists believe is consistent with a strong economy. Economists closely monitor initial claims for unemployment insurance, because the statistic is widely considered to be a key indicator of layoffs and of corporations’ willingness to hire. The number unemployed people who continue to claim benefits declined to 6.04 million, and analysts fear that many individuals are exhausting their jobless benefits without successfully finding work.

Many worried investors are playing it safe right now (or so they think) by keeping their money in a savings account, a CD, in a coffee can, or even under their mattress. Some have decided to take physical delivery of gold and silver, which is a proven back-up plan for their families’ safety as well as their portfolios’. Anyone can learn more about precious metal investing by logging on to, where a free tutorial clarifies many of the questions that today’s investors have. 

Shannon King

Senior Staff Writer –

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