January 28, 2009 – Gold Eagle prices fall a bit today along with bullion as the hasty safe haven buying stopped despite the economy only getting worse every single day. It’s been said that the stock investors who shifted into precious metals have regained confidence in the United States Dollar and are moving back into stocks, yet many do not know the possible outcome of the stimulus and bank plans that are in production. President Barack Obama is planning to inject $825 billion to fix the foundation of the United States but this alone could cause some long-term inflation, which in turn would cause a gold Eagle prices, and many commodities to increase in value while mainstream investments lose value like they have done historically in the past. Eight out of ten corporate chiefs are feeling negative about the effectiveness of these global stimulus injections. Only time will tell what lies in store for us, but it would be a good idea to keep our portfolios diversified in case things get a little worse than expected.
Today gold Eagle prices fall down to around $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. We’ve already seen gold reach its three month high of $916 per ounce two days ago which is a sign that we could continue seeing spikes in bullion pricing as the weeks go on and investors continue to seek safe haven assets. Invest well and have a beautiful day.
