May 4, 2009 – Both gold and silver bars are seeing moderate gains today as the latest rally to safe haven metals is creating speculation that the United States economy may continue to worsen, which would wither away at mainstream financial markets like stocks, bonds and real estate. The most popular gold and silver bars are the Johnson Matthey, Credit Suisse, Pamp Suisse and Engelhard varieties. All of the modern day bullion bars are .9999 purity, which is the equivalent of 24 karats. These bars have been used as a store of wealth for hundreds of years now, and historically they increase in value when Fiat currencies and mainstream financial markets flounder. The Certified Gold Exchange always recommends bullion bars for short-term profit-taking investors as opposed to those who seek long-term preservation because the United States Government could confiscate them like they did in 1933 in order to back up a failing dollar if the current recessionary cycle turns into the second Great Depression.
By around 2:20 PM Eastern Standard Time, gold and silver bars are increasing in value on the New York Mercantile Exchange, and the gold spot price currently sits at $902.10 per ounce, up $16.30 for the trading day while the silver spot price currently sits at $13.07 per ounce, up $.57 for the trading day. Precious metal investing is currently increasing in popularity because of the overall uncertainties with the United States Dollar that may face inflationary pressures down the road due to our latest government and Federal Reserve actions.
Senior Staff Writer – GoldSilver.org