January 13, 2009 – Gold and silver bars decrease in value today along with their respective spot prices as the United States Dollar regains some of its lost strength and commodities in general lose value after a weekend of uncertain selling. Current forecasts say that gold and silver bars will not be at a decline by the end of the week as investors could once again return to the metals as a safe haven investment, and this alone could cause sudden surges in spot prices in the very near future.
Gold is currently trading at around $825.60 per ounce, which is a 3.28% decrease for the day and a .44% increase in value for the month. Gold projections are saying that the metal should be around $900-$1200 per ounce by around midyear due to a worsening global economy. Silver on the other hand falls $.48 today down to $10.77 per ounce and silver projections are saying that $15 per ounce is a high possibility as higher investment demand and industrial use could increase in the near future.
All eyes are currently on the state of the United States Dollar as well as other currencies and with the European Central Bank planning to cut rates to keep up with their economic problems, we could be seeing other currencies decrease as well, thus increasing the value of gold and silver bars once again. Until then fellow readers, have a great day and invest intelligently!
Senior Staff Writer – Certified Gold Exchange