December 19, Daily Gold Silver Update

December 19, 2008 – Gold and silver comes down a bit as holiday precious metals purchases wrap up an excellent year for investors. In the last year we have seen many exciting things happen in the gold and silver market but the most important one was gold’s all time high in March. It’s certainly been and exciting year for investors but not as exciting for the 4,384,000 Americans that are currently unemployed. Let’s hope that things can get better with Pres. elect Obama’s stimulus of about $775 billion spread over a two-year period in hopes of bringing full strength back to the United States Dollar and our economic backbone. Gold is trading at around $840 per ounce, a $14 drop for the day but still a 14.34% increase in the last 30 trading days and a 4.89% increase in the last 365 trading days. Silver on the other hand is trading at around $10.87, which is a nine-cent drop for the day, and projections are looking positive as silver’s industrial usage becomes more and more important by the day.

The United States Dollar has gained some ground today against major currencies such as the Euro especially because European Central Banks have lifted their lending rates similar to what the United States did earlier this week. Stocks continue to drop and investors around the United States search for alternative investments like gold and silver to preserve their hard-earned wealth during this current economic recession. I hope you have a nice weekend and happy holidays!

Arthur McGuire

Senior Staff Writer – Certified Gold Exchange

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