Daily Gold Silver Market Update

July 7, 2009 – Gold and silver prices are tumbling today after seeing a small rebound during the midday trading hours, and it appears that instability with precious metals along with mainstream investing markets may continue until we find out what happens after the upcoming G8 meeting. Within the past few weeks, gold and silver prices have fluctuated heavily as many American investors have played a game of tug-of-war between safe haven metals and riskier stock markets. Overall, gold and silver prices are being directly affected by strength and weakness with the United States Dollar, and the latest speculation saying that the fiat currency may face dangerous hyperinflation along with a reserve currency challenge down the road has caused wise investors to rethink their investing decisions in order to prevent their hard-earned wealth from going down the drain. The latest short-term market projections have been increasingly bullish, with many market analysts forecasting higher spot prices down the road as a result of instability with the United States Dollar. This being said, it’s important that we track the Dollar Index in order to potentially determine upcoming movement with our bars and coins. Feel free to browse this website for useful insiders information on both short-term profit and long-term wealth preservation investments with precious metals.

By around 4 PM Eastern Standard Time, gold and silver prices are both headed downwards as a result of stale market movement prior to tomorrow’s G8 meeting, thus gold currently sits at $923.40 per ounce, down $1.50 for the trading day while silver currently sits at $13.07 per ounce, down $.18 for the trading day.

Daily Updates Archive

Shannon King

Senior Staff Writer - GoldSilver.org