Time to invest in gold and silver?

With markets taking a breather from the downfall, investors have started wondering whether it is time to invest in precious metals like gold and silver. In fact, the on line trading in these precious metals has become so vigorous that one of the biggest US net based metal exchange had to temporarily shut its activities because of the surge in orders.

The president and CEO of the American Precious Metal Exchange, Mr. Scott Thomas was quoted saying that the traffic for the past few weeks was very good and it increased four fold and this resulted in the system getting slower.

Is it worth to have your fortunes invested in precious metals?
At last, people have started telling “Lemme (Let me) get some gold and silver”. Nearly one third of the online users are first time buyers indulging in precious metals, Mr. Scott quipped. Higher the prices of the precious metals increased the volatility of the market.

Investment in gold can be considered as the worthy option since it is trading at $ 1500 / oz this year. Many factors may influence the price of gold including the forthcoming US elections, resolution of the sub prime loan problem and the credit crunch in the second and the third quarter.

It is believed that the price of silver may go up to $ 30 or $ 35 this year. As the gold trades at $ 950 / oz and silver at $ 18 / oz, is it time to accumulate the precious metals now?

Non business tip of the day

Today is Earth Hour

Twenty six major cities around the globe are expected to turn off their lights on the major landmark buildings, possibly plunging millions of people into darkness – just to create awareness among the public about the dreaded “global warming”. The founder of the Earth Hour Mr. Andy Ridley quoted that the black out will last for 60 minutes in cities including Chicago, San Francisco, Dublin, Manila and Bangkok.

Last year, the Earth Hour began in Sydney. Environmentalists are of the opinion that the one hour black out may not create a big impact on the global warming but helps to create an awareness among the responsible citizens.