December 23 - Daily Gold Eagle Update

December 23, 2008 – Gold Eagles fall during midday trading due to lower gold spot prices as a result of investor speculation and strong oversight. Commodities in general are going through slow times as well as everything in our current economy. After gold’s high of $1032.70 in March, we’ve seen the spot price at $842.90 per ounce, which is a 5.15% increase in the last 30 trading days and a 3.84% increase in the last 365 trading days. Precious metal trading looks to remain slow until the end of the year, but projections for 2009 are hopeful and we may see large gains as investors continue to look to metals as their ultimate safe haven.

If the economy continues the way it is going right now we will be facing the longest recession in history, and this is almost inevitable. Currencies everywhere are floundering. The United States Dollar has fallen 9.3% versus the Euro and the Russian Ruble has been devalued to its lowest worth in three years. Gold is adverse to the Dollar and as it continues to fall, demand for gold Eagles will almost certainly increase. Real estate prices are reported to be at their lowest level in 17 years and it’s only getting worse by the day. The future looks grim for global economy so demand for both bullion Eagles and certified rare Eagles may live up to the name of “investment in the generation” very soon. Have a great day, invest appropriately and enjoy the holiday season as much as you can.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange