Daily Gold Eagle Update

May 29, 2009 – Wise investors usually buy gold when they fear either inflationary or deflationary problems in their economy, and today the United States Dollar has officially fallen to a five-month low versus other major currencies, thus the overall physical possession safe haven demand for the metal has increased substantially as masses of Americans are seeking to protect their hard-earned wealth with one of history’s most preservative assets. The latest short-term market projections are saying that investors may continue to buy gold if the United States Dollar extends its losses, and this inverse correlation may bring the fiat currency down to a two-month low while the spot price of gold may climb above and beyond the all-time record high of $1033 per ounce. The overall investor sentiment with the metal seems increasingly positive as the dollar continues to tumble and inflationary fears grow based on our massive overprinting of dollars in the past few months. This being said, don’t miss the opportunity to buy gold before it’s too late if you feel that your investment portfolio could benefit from owning an asset that has historically thrived during both inflationary and deflationary economic environments.

By around 1:50 PM Eastern Standard Time, the spot price of gold is currently climbing towards its first monthly gain in the last three months as investors are continuing to diversify their portfolios with the safe haven metal in order to potentially protect themselves from the dangers that may lie ahead in our economy, thus the higher demand has pushed the spot price to around $977 per ounce, moving up $18 for the day and also moving up $78.70 in the last month.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org