Gold, Silver, And Bad Economic News

February 15, 2010 – Today signaled another strong trading day for gold and silver, marking an on-going trend that has been going on during the past two weeks. Gold closed the day by breaking through the $1,100 per ounce barrier, while silver held firm just above $15.50 per ounce, giving each metal a strong start to the week. Current events in Europe are believed to be the cause behind the current upswing in these important metals.

Both metals appear to react against the euro today as investors grow impatient for a resolution to the European credit crisis. EU leaders have stated support for the struggling countries in their Union, pledging to do whatever it takes to protect the financial strength of the Union, but are reportedly demanding that Greece enact deficit-cutting measures prior to any funds flowing to the overwhelmed Mediterranean country. This lack of a plan has continued to lead wary investors into gold and silver as they look to minimize their investment risk.

Bad economic news can frequently build up precious metals as investors look to avoid the commodities that are being affected. For this reason, gold and silver have been widely regarded as desirable investments when there is bad economic news, allowing draw investors when currencies fail.

With both commodities on upward trends and economic conditions appearing less than stable, now would be an appropriate time for investors to consider making purchases in both gold and silver. Purchasing both meals allows investors to draw on their differing prices increases in an attempt to maximize their profits. 

Shannon King

Senior Staff Writer –

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