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Daily Gold Silver Update

December 17, 2008 – Gold and silver look to be having a great day looking at today’s Commodities Exchange spot prices. Gold is currently trading at $866.70 per ounce while silver is at $11.30 per ounce. An amazing thing that happened today was that gold surpassed the value of platinum, which 6 to 7 months ago was trading at over $2000 per ounce. Decreased demand for automobiles have caused sharp declines in the price of platinum while the increased interest in gold has spiked due to stock market and currency problems. As more and more investors continue to look towards gold and silver we could definitely be seeing a very positive 2009 precious metals market, maybe not so much for platinum though.

The United States Dollar has been a decline today and yesterday, and it plunged to its lowest value in 14 years against the Japanese Yen. Even though the United States Dollar had rallied the 10-week highs versus other major currencies it looks like the current economic crisis is causing serious problems for the currency as well as the others worldwide. It’s been proven that economies revolve around the United States so when we start to fall, others fall with us. It is extremely important, for the future of global economy that leaders worldwide start taking wiser actions to bring back value to currencies as well as protecting the future well-being of its citizens. Have an excellent day and don’t forget to protect yourself with as much gold and silver possible.

Arthur McGuire

Senior Staff Writer – Certified Gold Exchange

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