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October 9, 2009

October 9, 2009 – Our nation’s dire financial circumstances have caused many investors to consider gold and silver for the first time. Both of these precious metals have registered impressive gains this week, while US stock indexes and our dollar index have performed rather poorly since Tuesday. In the midst of a week that has kept many US stocks flat and our dollar down, gold has set new all-time spot price record for three consecutive days. Gold is currently valued at $1049 per ounce after spiking to a new all-time high of $1059 yesterday. Gold’s per ounce value has risen almost $800 since 2001, and many economists believe that gold and silver could continue to rise as the value of our greenback wanes. Silver’s Commodities Exchange(COMEX) spot price is presently $17.66, and the “poor man’s gold” has gained 8.4% in value in just the last 30 days.

The strong trends in silver and gold have not gone unnoticed by stealthy economists, who attribute the increased demand to more investors who seek inflation protection. Inflation is undoubtedly a major concern for many investors, but the complete meltdown of our nation’s economy is at the forefront of many investors’ minds. Investors who believe that our economy is already on a track towards recovery are encouraged to consider an investment in gold bullion as a short-term inflation hedge. Safety-oriented investors who want to secure their stored wealth may do better financially with certified gold and silver coins, like the $20 Saint Gaudens gold coin or the silver Peace Dollar. These coins could serve as a hedge against inflation, and their non-confiscatable status makes them a favorite for privacy-minded investors. Investment-grade precious metals can be researched further at www.Precious-Metal.org, where gold, silver, and platinum investment options are broken down in detail. 

Shannon King

Senior Staff Writer – GoldSilver.org

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