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Today's spot gold price is $1507.20 Today's spot silver price is $18.07 Platinum $932.85 and Palladium $1,644.50 By the time you are listening to this update I'm sure the prices will be different Yesterday Gold appeared to be on a rocket ship ride. Today it appears to be in a bit of a free fall down about $25 Despite the breathless voices quoting the ups and downs of precious metals prices, we should remember why you invest in the precious metals. Their strength is they are a store of value. If you look at the historical performance it paints a picture of enduring and rising value. The 7-day performance is up about $20 The 6-month performance of gold is up about $200 The 1-year performance of gold is up about $300 The 5-year performance of gold is up about $300 The 31-year performance of gold is up about $1100. Just to reinforce the idea gold is a store of value you don't have to look any further than the central banks. The 21 central banks in the Basel III agreement raised gold from a Tier 3 asset to a Tier 1 asset. Which means they can loan 100% of the value of gold as opposed to lesser securities they hold like mortgages, etc where they can only loan about half the value. Central banks know what the real stores of value are and are preparing for what is ahead in terms of the rocky financial world and rocky political conditions. Central Banks have become buyers of gold rather than sellers. The 21 Central Banks decided not to renew the CBGH or Central Bank Gold Agreement which governed Central Bank selling of gold because they aren't selling gold anymore. We'll explore the Central Bank Gold Agreement and what it means for you as a precious metals investor in more detail in next week's precious metals investing update brought to you by preciousmetalsinvesting.com. PreciousMetalsInvesting.com brings you tips from precious metals experts like David Morgan author of Silver Manifesto and Second Chance, Paul Mladjenovic author of Precious Metals Investing for Dummies and Stock Investing for Dummies, Charlie Nedoss of LaSalle Futures Group, Randy Smallwood CEO of Wheaton Precious Metals Corporation, Richard Mayberry author of the US and World Early Warning Report and the Uncle Eric series of books offering Financial advice to young people, Ted Sudol of PreciousMetalsInvesting.com and author of Affiliate Marketing for Dummies and many more. Stay well and feel secure with your precious metals investments. Talk to you again next week.