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SilverMarket

March 23, 2009 – The silver market is seeing some impressive negative current correlation to the gold market due to increased industrial and investment demand from investors who seek a more affordable precious metal investment. Many of these investors believe that the metal is undervalued and that the silver market could experience some massive upward fluctuation within the next few years as prices begin to balance out with inflation. Gold on the other hand is experiencing some small downward fluctuation based on last week’s rally that had rebounded the metal up to a 3.2% gain for the week. All of this market movement is a result of the latest plans unveiled by the United States Treasury saying that they will purchase $500 billion worth of toxic assets in order to aid our economy. Sure enough, short-term confidence built up rather quickly, yet this confidence could be withered away once further negative economic data strikes more fear into hard-working Americans.

During the midday trading hours, both the gold and silver market seem to be running in adverse directions, with the gold price currently sitting at $947.20 per ounce, down $5.46 for the trading day while silver moves up $.10 to around $13.83 per ounce. The latest market projections are expecting both metals to see a possible 20% gain for the year, which means that there is still much room for growth as the financial crisis continues to develop and investors flock to precious metals. Invest well and have a good day.

Shannon King

Senior Staff Writer – GoldSilver.org

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