February 27, 2009 – The latest gold and silver prices are showing a solid amount of profit taking that is very usual when a precious metal market spikes up in value. 2009 has proven to be a difficult year for many investors, with the Standard & Poor’s index falling 15% since the beginning of the year, yet the latest gold and silver spot prices are still up about 5%. It’s very important that investors know about the latest flock to safe haven investments and how it has increased the value of both precious metals and the United States Dollar which I considered to be “odd” as a both have a historical tendency to run in opposite directions to each other. This has come as a surprise to many investors who felt that gold and silver were predictable investments that could easily be tracked by analyzing the value of fiat currencies. This impressive characteristic has been reflected in the latest gold and silver prices that saw significant gains last week while the Dollar was increasing against its major rivals.
Today the spot prices of both metals have declined once again, and gold is currently in the area of $935.50 per ounce, a decrease of $10 or 1.06% for the trading day while silver loses four cents to around $13.08 per ounce. Both metals have been expected to increase in value in the upcoming weeks as the speculation of a deepening recession builds even more fear in the minds of investors around the nation. I wish you the best of luck when investing in precious metals.
Senior Staff Writer – GoldSilver.org