Daily Gold Eagle Update

June 23, 2009 – Since the beginning of the year, gold Eagle price projections have shown mixed forecasts by both bullish and bearish market analysts, yet the recent instability with the dollar in both the short-term and long-term perspectives has caused even the bearish market analysts to believe that gold could be one of the ultimate diversifications to own during the current financial crisis. The United States Dollar is without a doubt facing a very dangerous time, especially since our government has overprinted trillions of dollars in a very short period of time in order to prevent a massive shift away from floundering dollar-backed assets. The recent “economic recovery” that we are seeing is a direct result of enormous injections of fiat currency into mainstream investing markets, and this is why several market analysts believe that the dollar is headed towards a collapse, which in turn could create significantly higher safe haven demand for precious metals.

By around 3:15 PM Eastern Standard Time, gold Eagle prices are headed upwards as the spot price makes a minor comeback after a turbulent week full of fluctuation. The current spot price of the metal sits at $934.40 per ounce, up $2.10 for the day and also up $17 for the month. Some very interesting 2009 gold Eagle price projections said that the spot price of the metal could climb up to $1200 per ounce and further by the end of the year as a direct result of overall instability with the dollar and mainstream investing markets. Although these gold Eagle price projections are a bit speculative, nothing is impossible, especially since the gold spot price climbed more than 850% in the late 1970’s when the dollar was facing severe inflation and the Federal Reserve increased interest rates like they are about to do soon.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org