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January 5 - Daily Gold Bullion Update

January 5, 2009 - Credit Suisse bullion bars along with standard gold bullion prices fall a bit today as the United States Dollar rises against other major currencies, starting the first week of 2009 on a good foot. The upward trend that the dollar is experiencing may end soon due to worsening problems in the economy and this is said to increase the prices of gold bullion once again. Gold is trading at around $852.10 per ounce, a $22.80 decrease for the day and $97.80 increase in the last 30 days. Although commodities are currently trading lower than expected, Credit Suisse bullion bars continue to be traded in high amounts as investors prefer them over most ordinary bars.

President elect Obama said that the nation faces an “extraordinary challenge”, when referring to getting the economy back on track. The projected $675-$775 billion dollar stimulus plan may help many parts of the economy, it has already boosted the United States Dollar’s strength overnight and may continue to boost it as the year goes on. As the United States clear some fog, Europe weakens in terms of slashing interest rates thus the Euro hit a three-week low versus the Dollar. It looks like Central Banks are no longer worried about inflation, but more about a deflationary economy, which is unexpected, and in several ways more dangerous. It’s time to hold on and see where Credit Suisse bullion bars and other precious metals may take us in the near future. Until tomorrow, have a great day!

Daily Updates Archive

Arthur McGuire

Senior Staff Writer - Certified Gold Exchange

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