Daily Gold Silver Update

January 20, 2009 – Gold and silver coins continue to increase and are showing some significant spikes today as investors begin to speculate that the recession will only get worse in the near future and that precious metals may be the only way to go. They may be right about that, and with so many problems in the economy at the moment it’s only a matter of time before precious metals become the ideal investment for anyone looking to profit and preserve during difficult times. Currently the United States Dollar is climbing against its major rival currencies and many are saying that it is his inauguration related optimism that is driving the increase is in both metals and the greenback. Gold and silver coins have fluctuated quite a bit since the beginning of the year but they are currently standing strong despite other commodities like oil dropping to under $33 per barrel, something unimaginable after this past summer’s insane prices.

Today we’re seeing gold trade in the area of $862 per ounce, up $20.20 for the day and $24.70 in the last 30 trading days while silver climbs up $.13 to around $11.35 per ounce. Gold and silver coins are projected to continue gaining value as the economy keeps on getting worse and even the speculative forecasts of $2000 per ounce of gold and $25 per ounce of silver could become a reality if things don’t start shaping up quickly. Have a great day!

Arthur McGuire

Senior Staff Writer – Certified Gold Exchange

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