December 29, 2008 – Gold and Silver prices spike up today as investors worldwide continue to look for the ultimate alternative investment that can protect them from the serious problems affecting global economies at the moment. People know that historically, gold and silver thrive during rough economic times and so they have proven themselves year after year. It looks like gold is going for its eighth consecutive yearly gain and it is trading at around $879 per ounce, up $10.40 for the day, $73 in the last month and $54 in the last year. Projections are putting gold at around $930-$950 per ounce in the very near future and by looking at the way things are going it is very possible. Silver on the other hand comes up $.28 to around $10.94 per ounce, and investors who got into the market at around $8- $9 per ounce have made a 15% to 20% gain.
Many of the increases in precious metal prices are being caused by the severe problems occurring in the Middle East around the Gaza Strip. Any time that war is imminent, investors flock to gold and silver, bringing significant increases in price almost instantly. It is very important to keep your eyes on this conflict as further escalation could mean excellent gains for bullion and coin investors. Let’s hope that everything turns out all right, and until then enjoy the holiday season and have a beautiful day!
Senior Staff Writer – Certified Gold Exchange