Daily Gold Eagle Update

June 17, 2009 – The recent United States Dollar rally has ended today as investors from around the globe are flocking away from the fiat currency based on speculation that it may no longer hold the prominence of the world’s primary reserve currency, many wise American investors in particular are deciding to buy gold Eagles because historically, the metal thrives during dangerous economic times like the one we are experiencing now. The future of United States Dollar seems very unstable at the moment, and in the past few years it has tumbled significantly versus other major currencies as our economy slowly but surely sank into the worst recessionary cycle since the Great Depression. Wise investors commonly flock to buy gold Eagles during these types of economic environments, especially since inflationary pressures and potentially increasing interest rates could signal a repeat of similar market movement that occurred in the late 1970’s, when the gold spot price shot up more than 800% in a two-year period. History does tend to repeat itself, and if we see skyrocketing spot prices within the next few years, we sure wouldn’t be disappointed that we decided to buy gold Eagles before it was too late.

By around 3:00 PM Eastern Standard Time, the gold spot price is heading right back up today as demand for the metal is increasing yet again due to more and more Americans deciding to buy gold Eagles as their ultimate hedge from problems down the road. The current spot price is sitting at around $934 per ounce, increasing .65% for the trading day and also increasing 5.94% in the last 365 trading days.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org