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Gold Silver Bar Prices

July 8, 2009 – Safe haven demand for precious metals is decreasing today as investing market in general take a step backwards based on many investors eagerly awaiting results from the upcoming G-8 meeting which could give some direction as to where markets could be heading to within the next few weeks, thus we are seeing gold and silver bar prices continuing in their downward motion, yet maybe not for long. The current gold spot price is sitting at around $909.10 per ounce while the silver spot price is sitting at around $12.85 per ounce. Both metals have tumbled from recent peaks, and according to several leading market analysts, gold and silver bar prices could be headed towards a significant rebound as critical bargain-hunting levels are now being reached. This basically means that many investors may begin taking advantage of the lower gold and silver bar prices in order to maximize their short-term and long-term profit potential.

As you may already know, gold and silver bar prices have been very closely connected to movement with the United States Dollar Index. In the past few weeks, there has been growing speculation about a new reserve currency that could take over the dollar as the world’s primary reserve currency, and this has put significant pressure on the dollar and dollar-backed assets. As a result of this, safe haven demand has slowly spiked, yet not significant enough to spark a large-scale rally into gold and silver. This being said, it’s very important that we keep a very close eye on the Dollar Index as well as spot prices and any important daily news that emerges in order to potentially determine short-term market movement.

Shannon King

Senior Staff Writer – GoldSilver.org

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