February 6, 2009 – Gold and silver bar pricing are both fluctuating up and down today due to a series of short-term selling and long-term investors looking for a safe haven and store of wealth during these troubled economic times. As you may know, the upcoming $819 billion stimulus plan that was proposed by President Barack Obama has the possibility of causing some long-term inflation within the next year which is striking a lot of fear into investor’s minds due to the financial instability that this would cause as well as the fact that our Dollars could be worth less and less every single day. It’s already a fact that we have lost 3.6 million jobs during this recession, and there are more to come. American citizens are desperately awaiting the passing of this stimulus plan in order to see if the projected 4 million jobs can be created this far into the recession. Today we’re seeing the United States Dollar remain stable which is probably another reason why gold and silver bar pricing is remaining stable as well.
As far as the spot prices are concerned, gold is trading at around $912.80 per ounce, a decrease of $1.70 for the trading day but also increase of $70.80 in the last 30 trading days, while silver moves up to $.25 into the area of $13.15 per ounce. Both metals look ideal to own during this financial crisis because both have a historical tendency to maintain value as well as even profit when other investments are failing. Keep your eyes on the gold and silver bar pricing, invest well and have a great day.