Precious Metals Prices
The current precious metals prices as of 12/15/09 follow the New York spot price. Gold closed at $1123 on the bid, with a low of $1110.40 and a high of $1128.40. Silver closed at $17.39, with a low of $17.11 and a high of $17.50. Platinum closed at $1447.00, with a low of $1425.00 and a high of $1457.00. Palladium closed at $363.00, with a low of $355.00 and a high of $370.00.
The current gold prices today remaining over a thousand dollars an ounce is still showing that investors lack trust in the people on Wall Street. Gold always has and always will be the safe haven during a recession. This trend is continuing with the world spot prices of precious metals all at an increase since the close in New York yesterday. The gold bid on the world market is up to $1133.50 while platinum is up to $1449.00 on the bid price. Both Silver and palladium are also up at $17.51 and $366.00, respectively.
No one is quite sure when this precious metal rise will stop. The loan from Abu Dhabi to Dubai was to quell concerns about instability in the Middle East that was shown by a 10% rise of their stock exchange yesterday, but has had little effect on the world markets. The major concern in America is the way the banks are refusing to give out loans to those that need it. With executives still receiving multimillion dollar bonuses for causing the latest recession because of their bad lending practices, reforming of the bank system is needed. When the banking system finally stabilizes, the precious metals prices will finally stabilize also.