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Profit-Taking Wreaks Havoc on Gold & Silver Prices

Heavy-handed profit-taking on behalf of the world’s institutional investors led to substantially lower gold and silver prices Wednesday, after two consecutive trading days in which both metals saw significant gains. As of 11am Texas time the gold spot price had fallen $16 to $1329.50 while silver was down $0.69 per ounce to $21.31.

“What we’re seeing is the larger firms and banks taking profits from the gains made during the previous two days,” said GoldSilver.org analyst James Keever. “Household investors are going to bear the brunt of the losses because they tend to buy and hold whereas institutions are almost always in the gold and silver markets for quick profit.”

Keever recommends that investors who want to own physical gold and silver but not be directly subject to the whims of investing firms give certified gold and silver coins a try. “If you’re in the market for short-term profit then certified coins are definitely not for you, but if you plan to hold your metals for a few years or more then you could get away from the day-to-day fluctuations of gold and silver because certified coins are more likely to follow the overall trend rather than the spot price alone.”

GoldSilver.org has four free investing guides that investors can utilize to make the best possible decisions when considering precious metals investments. A link to these four guides can be found below this market update, and you can call 800-394-3337 for expedited shipping of the complimentary brochures as well as customized, free information.

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