Daily Gold Eagle Update

January 7, 2009 – Gold eagle retirement accounts saw a small decrease today as fluctuation in all commodities and currency markets causes confusion for many investors. This confusion is close by the declining prices in many precious metals as well as many currencies, which is something I don’t usually see, since they are adverse to each other. Latest news from President Obama warns that United States deficit on the trillion dollar scale could be a part of our lives for years to come, and that alone could cause major spikes in several markets and most likely increase value of all gold Eagle retirement accounts. Also, the record number of US layoffs during December unsettled many markets overnight, also pulling the Dollar lower than expected. Almost 1.2 million jobs were done away during 2008, which is the most that we’ve seen since 2003, and projections are saying that we could see 7% unemployment in the near future. Now that’s some bad news.

Gold Eagle retirement accounts and precious metal projections look to be positive for 2009 and gold is trading at around $838.40 per ounce, down $25.10 or 2.91% for the day and up $67 or 8.69% in the last 30 trading days. With projections saying that we could see $1200 this year, I expect many investors to flood the market the second that things start to get a little worse. Until then readers, have a beautiful day and enjoy your life!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange