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February 2, 2009 – The gold spot price loses value today due to short-term investors selling their investments in order to make some quick profit, but we’re still seeing several new investors enter the market today in order to continue hedging their assets from the worsening economy. Short-term predictions are saying that February may see even more gains than January, which saw an overall 5.2% increase in value. Last Friday we saw the gold spot price reach $929.70 per ounce and this is supposedly just the beginning of 2009’s spikes that we could be experiencing. With the economy getting worse by the minute, investors are starting to realize that precious metals have historically thrived during times like these and as unemployment rises and stocks plummet there may not be a better time to own some than right now. 2009 might just make or break many people’s investment portfolios.

Today we’re seeing the gold spot price fall to around $914.60 per ounce, down $12.50 or 1.35% for the trading day but still at an increase of $39.70 or 4.54% in the last thirty trading days. Prices are projected to continue increasing by the end of the week especially when the fresh unemployment data gets released and investors reconsider owning precious metals during these possibly thriving times. Last month we saw some yearly projections saying that this may just be one of the most profitable and ideal time to own precious metals. This being said, it really makes sense to own some right now. Invest well and have an excellent day.

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Arthur McGuire

Senior Staff Writer – Gold-Investment.info