Daily Gold Eagle Update

January 22, 2009 – American coins such as the American Eagle and certified rare Double Eagles ($20 Saint Gaudens and $20 Lady Liberty Heads) have increased in value as investors flock to the precious metal market once again as a hedge against inflation and the vast array of problems we are facing in the economy right now. The biggest news for today is that India is no longer the single largest gold bullion consumer, China has caught up to them and their demand is now the highest in the world which means that their investors are obviously wising up to the fact that stocks and bonds just won’t work for 2009 and the only places people are finding safety and profit right now are precious metals such as American coins and bullion bars. With millions of investors losing billions of dollars in stocks last year, it definitely makes sense to own an investment that not only stores value but profits when mainstream investing is on a downfall.

Today gold is trading in the area of $856 per ounce, a $2.90 or .34% increase for the trading day and the $16.10 or 1.92% increase in the last 30 trading days. Projections for gold and American coins are saying that the metal will continue to be bullish throughout the year and that even the more speculative projections such as $1500 per ounce and $2000 per ounce could be a reality as concerns are raised about the recession deepening. Only time will tell where investments will take us. Invest well and have a great day.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange