Precious Metals Market Posted by James Randolph on July 18, 2009
July 17, 2009 – Activity in the precious metals market remains rather stoic, as Gold continues to hover around the $940 resistance mark, while Silver remained around $13.50. The only exciting development to report is Platinum, which was up $12, to $1183 an ounce, as of late this afternoon. Our nation’s dollar lost a point on the index, which only serves to fan the flames of speculation over the greenback, as well as build tensions amidst an already anxious league of investors in the precious metals market. Experienced investors are aware of gold’s historic, inverse correlation with dollar values, and have been carefully monitoring dollar values, as well as the economic factors that negatively affect those values.
The past few years have been an economic, downward spiral, as manipulated interest rates, and corporate interventions (both compliments of the U.S. government), along with factors like inflation, all contribute to subsequent dollar devaluation. Despicably irresponsible banking and brokering practices, have also contributed to the virtual implosion of so-called “traditional” investments in stocks and bonds, which further serve to quell investor confidence in the once almighty dollar. What’s more, the inflationary period we are presently encountering is already being compared to the one from the 1970’s, which depleted dollar values by more than sixty percent. Inversely, investors in the precious metals market made record gains, as the spot price of gold increased by over 800%. Investors are encouraged to thoroughly evaluate their financial needs, and then to contact one of our friendly specialists, who offer institutional discounts to household investors.
Senior Staff Writer – Certified Gold Exchange