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Latest Gold Silver Prices

August 7, 2009 – The latest gold and silver prices are headed in unusual directions as gold falls while silver makes a minor increase for the trading day. Several market analysts are saying that the latest gold and silver prices may fluctuate in their current range until significant direction is given from the ever-fluctuating United States Dollar. Currently the gold spot price sits at $954.40 per ounce, down $8.70 for the day while the silver spot price sits at $14.58 per ounce, up three cents for the day.

As you may already know, the latest gold and silver prices are being heavily affected by the United States Dollar Index that has fluctuated significantly since the beginning of the year. Today the Dollar Index has made quite an impressive jump, yet several market analysts are expecting instability down the road with the fiat currency as a result of inflationary pressures that are slowly but surely building in our economy. Since the beginning of the current economic recession that started in 2007, the United States Government has overprinted trillions of dollars in order to prevent a collapse, and fortunately these currency injections have halted significant problems in the short-term. Unfortunately, these massive injections could cause dangerous hyperinflation down the road, which in turn may be beneficial for gold and silver prices. The last time that our economy faced a high inflationary economic environment was in the late 1970’s when spot prices skyrocketed more than 100% in two years as wise Americans flocked to safe haven assets in order to protect their hard-earned wealth from the devastation that was occurring with dollar-backed assets.

Shannon King

Senior Staff Writer – GoldSilver.org

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