Daily Gold Eagle Update

June 16, 2009 – Short-term gold Eagle projections have been thrown a curveball today as the week starts off on a high note for the United States Dollar, which adversely is creating pressure on safe haven precious metals, yet we may be in for a week full of surprises. The United States Dollar is currently increasing in value versus other major currencies after several global leaders mentioned that its dominance as the world’s main reserve currency would most likely continue. Several investors and market analysts are saying that there is too much confidence with the dollar at the moment, especially since dangerous devaluing may be seen down the road as a direct after-effect of our latest stimulus and bank bailout packages. Don’t let today’s short-term market movement fool you into believing that the United States is on the road to recovery. We are currently more than $12 trillion in debt with unemployment levels rising to near 10% nationwide and inflation growing much faster than expected. The latest short-term gold Eagle projections are forecasting prices to increase only if the dollar shows significant weakness after this week’s upcoming economic data.

By around 2:30 PM Eastern Standard Time, bullion gold Eagles are decreasing in value while rare Double Eagles are holding on strong to their value as the gold spot price tumbles to $927.60 per ounce, decreasing 1.14% for the trading day yet still increasing 6.52% in the last 365 trading days. Wise investors should keep a close eye on short-term market movement with the Dollar Index and spot prices, especially since several gold Eagle projections are predicting lower dollar values and higher spot prices in the near future.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org