August 5, 2009 – Gold and silver spot prices are seeing some unusual market movement today as the yellow metal decreases slightly while the white metal continues extending its gains for the fifth consecutive trading session. Typically, gold and silver spot prices trade in similar directions because both metals are seen as safe haven assets, yet since the beginning of the year, more and more investors have been exploring their boundaries with silver in particular that has outperformed gold significantly. The current gold spot price sits at $966.90 per ounce, down $.80 for the day while the current silver spot price sits at $14.75 per ounce, up $.12 for the day.
As you may already, gold and silver spot prices fluctuate on a daily basis dependant on supply and demand for the precious metals. Since 2001, the spot prices of both metals have increased more than 300% while other investing markets floundered amidst a contracting economy. According to several market analysts, the future of precious metals looks bullish because inflation may begin to grow at a dangerous pace once the United States Federal Reserve increases interest rates in order to jumpstart an “economic recovery.” This type of speculation has sparked projections saying that gold may climb up to $1500 per ounce while silver may climb up to $20 per ounce down the road. If this type of bullish market fluctuation actually occurs, wouldn’t you like to know that you have a piece of the pie? Feel free to browse this website for more information on gold and silver investments.
Senior Staff Writer – GoldSilver.org