Daily Gold Eagle Update

April 20, 2009 – Global equity markets are taking a step back today after a powerful six-week rally, and it appears that wise investors are selling their stocks and locking in profits while at the same time purchasing American coins like the gold Eagles and $20 Saint-Gaudens that are expected to rebound in value as the overall physical possession demand for safe haven assets increases substantially. The recent market speculation is saying that the recent rally to stocks was completely overdone and that it will begin to contract, especially after the latest news from large financial institutions showing dangerously high debt levels that came as a complete surprise. Gold American coins may continue to benefit from the latest negative economic data, yet today’s gains are being limited by a strengthening United States Dollar that has already surged towards 86 points on the currencies index. The next few weeks may hold some heavy fluctuation for most financial markets, so this may be a good time to diversify into a safer asset before it’s too late.

The popular investment-grade American coins are benefiting from the spiking gold spot price that currently sits at $884.70 per ounce, jumping up $16.20 for the day but still falling $31.30 in the last year. The long-term physical possession demand for gold is increasing as wise American investors are beginning to see the true potential of precious metals during times of economic distress. Historically, the metal reacts impressively well during recessionary cycles, and this time around it appears no different.

Daily Updates Archive

Joshua Harris

Senior Staff Writer – Gold-Eagle.org