Daily Gold Silver Update

December 22, 2008 – Gold sees some increases today while silver falls a bit during this slower than usual holiday trading season. Gold rises for the first time in three days as investors continued to turn to it as their safe haven investment, bringing the metal up $7.80 to around $845.70 per ounce, a 1% increase for today’s trading session. Silver moves down a bit to $10.78 per ounce, down four cents for today’s trading session. These slight fluctuations are minor compared to projections that put gold at around $950 per ounce and silver at around $14 per ounce by beginning to mid-2009. That is just the beginning and depending on government actions we could see more extreme numbers come into play as a result of unwise decisions.

As you may know gold and silver are inverse to the United States Dollar and when the Dollar falls, the metals historically increase. The Dollar continues to flounder to an 11 week low versus the euro down to 80.92 on the currency index. If things continue this way the Dollar will only continue to lose more value and precious metals could see many more increases.

Amidst this horrible financial crisis, commercial real estate developers are looking to ask for a bailout of their own from the United States Reserve in an act of preserving the little they have after massive decreases in real estate value over the last few years. Although real estate continues to drop and may continue to drop even more in the coming years, it’s safe to say that gold and silver could see inverse affects and possibly increase in value substantially in the coming years. Have a beautiful day and invest in the best!

Arthur McGuire

Senior Staff Writer – Certified Gold Exchange

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