January 30, 2009 – Gold and silver prices are increasing with a vengeance today as vaults around the world are being filled with the yellow metal in order to prevent losses from fiat currencies and to protect portfolios from the upcoming problems in the global economy. We see the recession get worse every single day and corporations around the globe are reporting massive losses while the Certified Gold Exchange is reporting massive increases in demand for the metal as a physical possession investment. The Certified Gold Exchange has become one of the top nationwide exchanges because they offer competitive pricing while the majority of others are simply trying to make a quick buck during these hard times. Even the investors who thought they would never invest in precious metals are taking positions in the market as they have finally come to realize that it may be one of the only ways to preserve wealth during the financial crisis. 2009 is certainly proving to be a hectic year and commodities are continuing consistent gains as they have in the past 5/6 United States recessions. Major banks, financial institutions and the Certified Gold Exchange are recommending picking up safe haven assets before big-time investors pin down the market.
Today the gold spot price is at around $926.20 per ounce, a $17.90 increase for the day and a $45.40 increase for the month while silver also moves up to its four-month high of $12.59 per ounce, a $.24 gain for the day. The latest projections for both metals are looking very bullish and we could see even the more speculative ones become a reality as the economy continues to get worse by the day. Invest well and have a beautiful weekend.
Senior Staff Writer – GoldSilver.org