December 8, 2009 – Spot silver and spot gold values declined in unison on Monday morning, after the US dollar showed some strength and our government released as slew of reports that could indicate that our economy is improving. However, many economists have criticized the data, which they say is the direct result of delayed debt in the form of government stimulus. You can register for live gold and silver prices here, or request the 2010 Insider’s Guide to Gold and Silver Investing below.
Spot silver is currently valued at $17.91, and spot gold is trading at $1048 levels. There has been wide-scale profit-taking the past two days, which was initially sparked by the dollar’s spike in value. Long-term projections are for the dollar to lose another 25% of its value in 2010, and many economists fear that the greenback could eventually collapse.
The collapse of the dollar is very unlikely, because our government would exhaust any feasible options to strengthen our paper IOU notes before letting it become insolvent. Historically, our government backed the weak dollar by confiscating the gold bullion of US citizens, and from 1933-1971 the dollar was used as a placeholder for gold. In 1971, the United States was removed from the Gold Standard and our government has had free reign to run the printing presses perpetually since then.
If you have concerns about the devalued dollar or about our economy in general, it may be wise to make the lateral move into physical gold and/or silver. Contact GoldSilver.org to get live quotes on the most commonly traded gold and silver items, or register below for spot silver and spot gold updates, as well as a plethora of useful investment-grade information.
Senior Staff Writer – GoldSilver.org