Daily News

January 20, 2009 – Gold investments increase in value today as the upcoming bailouts spark speculation about a deeper recession in the near future, thus increasing investor interest in precious metals. Gold rises to the highest in more than a week today as uncertainty for all investments drives more and more investors to consider safe haven investing. Today, Barack Obama will become the 44th President of the United States and this alone could cause much fluctuation in commodities markets for the next several weeks. His proposed $800 billion stimulus plan is aimed at improving the United States economy by strengthening the foundation and creating jobs but many say that this is either impossible or could take a significant amount of time. Whatever happens, investors that own gold investments should be safer than those that own mainstream investments like stocks and bonds.

Gold is currently trading at around $854.90, up $12.50 for the day and up to $17 in the last 30 days. The 2009 projections for gold investments say that we could be seeing anywhere from $900-$2000 per ounce depending on the effectiveness and hastiness of government aid. It’s important for us to keep our eyes on the United States Dollar as well as the stimulus plan in order to project where precious metals will be by the end of the year. Let’s hope things get better for us investors, until tomorrow, have a great day and don’t forget to invest well!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange