Daily News

March 2, 2009 – The current spot price during the afternoon trading hours is showing a large amount of fluctuation that is based on what is considered to be the last round of profit-taking. Many wise investors are preparing to move back into the precious metal market once again as even more negative economic news is expected to be released this week, which will almost certainly increase the instability of the already floundering financial markets. Stocks for example have fallen below 7000 points, which is the lowest we’ve seen since 1997, a colossal loss in value since they hit a record high of 14,000 points in October 2007. If we compare these losses to the current spot price, we can see the gold has outperformed equities significantly, and the metal has made more than a 350% increase in value since mid-2001. It has been recommended that Americans start diversifying their assets in order to protect their hard-earned wealth from any further losses that could result from the financial crisis.

The current spot price of gold is at around $943.70 per ounce, up $4.10 for the day and also up $16.60 for the month while falling about $30.60 since last year. Market analysts believe that the precious metal market is currently experiencing a calm before the storm that could shoot prices to their projected high of $1400 per ounce by the end of the year. We will just have to wait and see what 2009 has in store for investors nationwide. Happy investing.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Gold-Investment.info