January 15 - Daily Gold Eagle Update

January 15, 2009 – Gold bullion Eagles lose some value for the third day in a row due to a stronger United States Dollar temporarily limiting the metals appeal as an alternative investment. Although prices are dropping right now and have lost 7%, or $60 in the last few days, expert analysts are saying that the Dollar will most likely be effective negatively due to the results of last years retail sales being twice as worse than anticipated. It was expected that a 1.3% loss in sales should have occurred but instead we saw a 2.7% loss along with a .7% loss in automobile sales last December. News like this almost always decreases the value of the Dollar and as further news about the weaker economy starts to come up, we could be seeing a quick spike in gold bullion Eagles within the next month. The lower spot prices make this an excellent time to enter the market or increase your holdings as one could make a decent amount of short-term profit if invested correctly.

Well, it’s midweek and we’re seeing a gold spot price of around $811.60, an $8.70 or 1.06% loss for the trading day and a $25.30 or 3% loss in value in the last 30 trading days. It’s projected that the spot price along with gold bullion Eagles should be rebounding from this drop as news kicks in further in the day and into tomorrow. The latest projections are saying that $900-$1200 per ounce is highly possible as the economy continues to worsen and I personally think that it could go even higher than that. Only time will tell, until then, have a beautiful day!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange