Daily Gold Eagle Update

September 18, 2009 - The Wall Street Journal reported on Friday that American households have a long way to go before a recovery is under way. American gold Eagle investments have picked up some of the slack for stocks, bonds, and real estate markets that are not performing well, but Sudeep Reddy at the Wall Street Journal says that Americans have quite a while to go before what was lost in the economic downturn is recovered.

Reddy's article also shows that government borrowing has surged to a 28% rate, even as President Barack Obama and Fed chairman Ben Bernanke admonish Americans to save more and borrow less. Federal, state, and local municipalities within the United States increased their debt by 8.3% in the second quarter of 2009. The second quarter saw some growth in real estate and mutual-fund values, although the 40% that the average mutual-fund investor lost in 2008 is not close to being recovered. Suffering stock markets and job climates have created a trend in the American gold Eagle coin, which has increased in value by more than 400% since 2001. Many economists expect that gold will continue to rise until the economy begins a stabilization phase, which could be a decade or more away.

The American gold Eagle coin, silver American coinage, and Proof coins have been discontinued by the US Mint until further notice. These coins, along with the original American gold Eagle, the Saint Gaudens gold coin, can be tracked by visiting www.goldprice.net and www.PCGS.com. Spot gold trading on the New York Mercantile Exchange is currently valued at $1012 per ounce, which is a 7.05% gain over the course of the last 30 days.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org