January 29, 2009 – Gold and silver bullion prices both continue to increase today despite the small falls in pricing we saw in the last few days mostly due to a weakening United States Dollar and sliding equities markets. Investors right now are not feeling safe with anything else but safe haven assets such as precious metals because they have historically proven to thrive during times like the ones we are experiencing right now. Gold and silver bullion prices are predicted to continue increasing as a result of the ever-worsening global economy. Another thing driving the way for the latest pricing is the fact that unemployment levels have officially hit a record high since 1967 and it currently sits at around 4.78 million Americans, a devastating number that many market analysts say is just the beginning of the true recession. Yesterday the House of Representatives approved President Barack Obama’s $819 billion stimulus plan, which in my opinion will be the determining factor as to whether or not we enter a Depression. Only time will tell.
Gold and silver bullion prices are looking good today with gold trading at around $893.70 per ounce, up $7.30 for the day and silver climbing $.12 to around $12.07 per ounce. Projections for both metals are looking better than ever and many market analysts are saying that the current economic problems could cause significant spikes in the next several months. Let’s see what 2009 has in store for us. Invest well and have a great day.
Senior Staff Writer – GoldSilver.org