January 5, 2009 – Gold and Silver prices tumble a little bit today due to a strengthening Dollar that may not be able to hold its own for much longer. The spikes in the United States Dollar were unexpected, with no obvious trigger and extra projections say that the trend may end soon, causing precious metals to rebound probably higher than historical highs. This chance of possible increase is what is causing masses of investors to enter the precious metals market at increased speeds. Gold is trading at around $855 per ounce, down .38% for the day but still up 13.35% in the last 30 trading days. Silver on the other hand is trading at around $11.14, down about eight cents for today.
Gold and Silver historical charts prove that when the United States Dollar decrease in value, precious metals skyrocket. This is due to the demand that sparks when consumers are worried about their national currency. What better to run to than real money? Currencies in the end are controlled by the amount of gold and silver they have backing up the currency. If we look at gold and silver historical charts, we can see that over long periods of time they have done nothing but increase, so doesn’t it make sense to own some precious metals as a solid alternative investment during this rough economic ride?
Keep your eyes on the gold and silver historical charts, because history loves to repeat itself and that is similar to what we are witnessing in our current global economy. Have a beautiful day and invest in the best!
Senior Staff Writer – Certified Gold Exchange