Daily Gold Coin Update
January 28, 2009 – Certified gold investments are continuing to remain their value while the gold bullion spot price continues to fall, almost 2% in value while the reduced demand for precious metals as a safe haven is driving the way for prices right now. It is the biggest drop we’ve seen in two weeks after a surge of safe haven buying last week, which peaked the metal to its three-month high of $916 per ounce. The United States Dollar also continues to drop and has already lost 1.2% versus the euro and President Barack Obama is preparing his plans to absorb harmful bank assets. His planned stimulus of $825 billion is supposed to make nearly 4,000,000 jobs while at the same time strengthening the United States economy, but a recent survey shows that 8/10 corporate chiefs do not believe that this massive injection of fiat currencies will do anything positive to the economy. Only time will tell what will happen in 2009 with the economy and it would certainly be a wise idea to hope for the best but prepare for the worst with precious metals and certified gold investments during possibly one of the worst financial crisis ever seen in the United States.
Today we’re seeing the spot price of gold at around $894 per ounce, which is a $3.30 decrease for the day but still a 13.38% increase in the last 30 trading days. Short-term projections are saying that investors will flock to the precious metals market again once news that the economy is continuing to worsen comes out. Let’s see what happens, until then, have a beautiful day and invest well.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
