Daily Gold Silver Update

January 12, 2009 – Gold and silver investments looked to be increasing in popularity as investors returned to the metals as the ultimate safe haven during difficult times. In early morning trading we saw some small losses in gold and silver investments but after the news of job losses in 2008, a spark was quickly lit and spot prices have increased into the positives and continue to be increasing by the minute. The 2008 job data show that the United States economy lost 524,000 jobs this past December and nearly 2.6 million jobs were lost in 2008 alone, with 1.9 million jobs lost and in just the last four months. Unemployment levels continue to rise and are currently sitting around 7.2% which is the highest we’ve seen 16 years and these horrible events should increase the value of gold and silver investments and I expect prices to increase in the near future as investors continue to look at the metals as possibly one of the only things that can save their hard-earned wealth right now.

Gold is currently trading at around $858 per ounce a $1.60 or .19% increase for the trading day and a $48.90 or 6.64% increase in the last 30 trading days while silver rises $.12 to around $11.22 per ounce. Current projections for gold and silver investments remain in the positives and even the most speculative projections like $1200 per ounce of gold and $20 per ounce of silver could be possible if the economy continues the way it is. Have a great day and a beautiful weekend!

Arthur McGuire

Senior Staff Writer – Certified Gold Exchange

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