January 6 - Daily Gold Eagle Update

January 6, 2009 – Gold Eagle investing has seen some decreased attention today as gold prices fall for the third straight session in a row as the Dollar’s rally reduces the demand for precious metals as a safe haven. Today the United States Dollar climbed 3.5% versus the other six major currencies like the Euro and the Yen. American citizens are feeling like the United States is going to come its way out of the recession that it’s in before the rest of the world, thus causing more confidence in the United States Dollar. Although the decreased demand for gold eagle investing has caused some investors to leave the market, others are seeing this low price at the next opportunity to jump into the market before it reaches projected levels. These projected levels say that gold should be trading at around $1000-$1200 during the next several months and this is very possible due to the array of problems occurring in the world right now.

It’s very important to keep our eyes on global current events as it can sometimes lead the way for precious metals spikes and drops. For example, Japan’s Toyota is planning on pulling the plug on all domestic factories for 11 days in February and March due to the reduced demand for vehicles. This alone could cause problems for their economies and we could see both investment-grade gold and platinum increase in value as they seek alternative investments from their automobile stocks. Keep your eyes on the sky and don’t forget to get involved in gold Eagle investing while you can. Have a great day!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange