Daily Gold Eagle Update

January 28, 2009 – Gold Eagle pricing falls for the second day in a row as investors sell their precious metals after a large spike seen last week in exchange for the risky and fluctuating stocks that have already lost 10% and 7.5% this year. Today’s gold Eagle pricing is at the lowest it’s been in two weeks and it’s really all based on speculation that the planned government stimulus plans will actually revive the global economy, which in turn reduces the demand for safe haven assets like precious metals. What people don’t know is that President Barack Obama’s $825 billion stimulus plan may cause long-term inflation due to a massive amount of money being injected into a failed banking system, which in turn results in higher precious metals and gold Eagle pricing. It’s not a bad idea to be hopeful about the current economy but it’s also not a bad idea to prepare for the worst because the times right now are not good for many people.

Today we’re seeing gold fall a bit into the area of $894.40 per ounce, down $3.30 or .37% for the trading day but still up $13.80 or 1.57% in the last 30 trading days. The sky is the limit right now and with the metal hitting its three-month high of $916 per ounce recently and with projections saying that $1500 per ounce is a possibility, there may not be a better time to own precious metals than right now. Invest well and have a beautiful day.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Gold-Eagle.org