Gold And Platinum Neck to Neck Posted by James Randolph on December 18, 2008
Gold And Platinum Neck To Neck
December 17, 2008 – Just as predicted, gold and platinum are finally neck to neck in spot price value. The current gold spot price is $866.70 while platinum sits at $866.30. About seven months ago, platinum was in the $2000 range and gold was sitting around $900 per ounce, but today we see gold surpass platinum’s value. Many people thought that this day would never come, but less demand for catalytic converters from the failing auto industries and very high demand for gold as an alternative investment have finally made this happen. I predict that the future will continue to be very bright for gold as it is showing right now. Silver on the other hand fluctuated slightly and sits at $11.30 per ounce on the COMEX.
The United States Dollar continues to decline today, and yesterday it plunged to its lowest level in more than 13 years against the Japanese Yen and continued to fall for a three-month low against the Euro. The future looks to be grim for all global currencies. Short-term interest rates are sliding between zero and .25% which could cause many problems for fixed income and credit markets in the near future. US debt continues to stack up and as we see it right now the only light at the end of our Tunnel is gold. It is imperative that global finance ministers take properly planned moves in order to bring balance to the economies worldwide. Have a beautiful day and don’t forget to invest in certified metals!
Senior Staff Writer – Certified Gold Exchange