Daily Gold Eagle Update

February 9, 2009 – US gold coins in the bullion varieties such as American Eagles and Gold Buffaloes decreased in value during midday trading while the certified investment grade US gold coins maintained their value due to their historically preservative qualities. The talk of the day is the global economy and the United States stimulus plans, which are proposed to be either accepted or rejected by tomorrow morning. President Barack Obama himself said that if the plans were not passed the results could be “catastrophic.” Although he may be right about that, we’ve also got to take into consideration the long-term inflation that could result from such a large amount of money being printed out. The anxiety continues to build about the future of this great country and many investors as well as American citizens feel that there is no end in near sight for the problems we’re experiencing at the moment.

Today during the afternoon trading hours we are seeing the spot price of the metal come down to around $900 per ounce, a decrease of 1.25% for the day but still an increase of 6.89% for the month. US gold coins have been projected to increase in value well this year as a result of the higher inflation and worsening economy but it’s really just a waiting game that we are experiencing right now until further news are released. I wish you the best of luck when investing and don’t forget to diversify well.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Gold-Eagle.org