Daily Gold Eagle Update

Gold has corrected, down $100 from its recent high. The dollar is on a seven week rally. Is gold done? It may be wise to wait until the results of the health care bill are clear before selling a single gold eagle. The United States Congress has a way of turning a straightforward problem like the many uninsured in America into a series of pork barrel projects that drain the national treasury.

Investment in the American Gold Eagle and collectable double eagles has been wise in the last years as the dollar has slid and economic chaos threatened. What could have been a straightforward matter of finding ways to improve health insurance coverage has become increasingly complex and costly.

Another run on the US treasury by escalating heath care costs will only serve to drive inflation, force a continued slide in the value of the dollar, and increase the value of each gold eagle in existence.

Purchasing a gold eagle in 2000 when the price of gold was around $270 an ounce has proven to be a wise investment since the price of gold has quadrupled. If the United States Congress has changed its ways and doesn’t burden the upcoming health bill with unnecessary costs, it could be good news for the dollar and could cause gold prices to stabilize. With history as a guide, it may be a better idea to purchase certified gold coins just in case.

The United States has more than just health care to deal with. The war in Afghanistan continues, US troops are not out of Iraq, and global terrorism continually carries a cost of eternal vigilance and dollars. As the USA prints more money to finance its debts, the purchase of gold eagles may continue to be an excellent idea. 

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org