Certified Gold Prices Posted by James Randolph on February 16, 2009
Here We Go Again…
February 16, 2009 – Certified gold prices fluctuated a bit during the early hours but balanced out and started to increase during midday trading as investors continue to fear the problems that could arise with coming time in the United States economy. In the last few weeks we’ve seen investors flock to gold which has pushed the prices to its seven month high of $955 per ounce, not bad considering bearish market analysts believe that the metal would go back down to $800 per ounce last week. Along with certified gold prices increasing, other precious metals and commodities rose in value as well, which means that investors are focusing on safe haven assets instead of mainstream investments like stocks and bonds that are tied directly to the United States Dollar. Today we are seeing the economic recession deepen even further and an interesting analysis reported that 26/32 investors from Tokyo to Chicago advised that purchasing precious metals could be one of the best things to do at the moment.
During midday trading we are seeing certified gold prices increase in value side-by-side with the spot price of the metal that is currently at $942 per ounce, up $.40 or .04% for the trading day and also up $99.60 or 11.82% in the last 30 trading days. In the last month and a half we have seen such bullish projections for precious metals that many people in the market believe we could see $1500 per ounce with the next 12 to 15 months. I wish you the best luck when investing in precious metals.
Senior Staff Writer – Certified Gold Exchange