December 22 - Daily Gold Eagle Update

December 22, 2008 - Gold Eagle prices have seen some small increases today along with the slight increases in gold spot price due to heavy safe haven buying from investors looking to start the year off on the right foot. Gold rises today for the first time in three days up to $845.70 per ounce, which is a 1% increase for the day, a 5.5% increase for the month and a 4.1% increase for the year. Gold Eagle purchases looked to be slowing down a bit for the holiday season but early 2009 projections are saying that the coins may be valued more by then. Gold prices will continue to follow United States Dollar movements as the Dollar falls to its 11 week low versus the Euro while gold continues to increase and investors are taking advantage of this. Both bullion Eagles and certified rare Double Eagles are the investment choice right now and various types of investors are shifting over depending on their needs.

Global problems continue and it looks to be no end in sight. China’s central bank said that it is going to cut lending and deposit rates by 0.27% each in an act to restore their falling economy following previous cuts by Japan and the United States. Speaking of Japan, Toyota automakers noted a $1.6 billion loss which they said was the worst they’ve seen since the post-World War II period. Despite financial bailouts in almost every country the future is clear for global economies. It is highly recommended that wise investors figure Gold Eagles while they are still available. Happy holidays and happy days!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange