Daily Gold Eagle Update

June 15, 2009 – Bullion gold Eagle values are falling today as the spot price continues in the downward direction amidst a strengthening United States Dollar, yet long-term inflationary and deflationary pressures are causing many wise investors to hold on to their gold in the event that the financial crisis continues to worsen. The United States Dollar Index has risen about 1.2% today after Japan mentioned that they are confident about the outlook for US treasuries, signalling that they will continue purchasing debt in the short-term. These remarks are causing slightly lower demand for safe haven precious metals, thus today’s lower gold Eagle values. Several market analysts are forecasting that the dollar will rebound only for a small amount of time, because it does not have the core strength to sustain a rally due to its internal weakness that is a direct result of our latest overprinting and quantitative easing measures. Despite the long-term inflationary pressures, it appears that we may face a deflationary economic environment within the next few months, thus gold eagle values could thrive because the road to recovery is expected to be a very long and bumpy one.

By around 1:45 PM Eastern Standard Time, the majority of gold Eagle values are headed in the downward direction, yet a rebound is expected by the beginning of next week if the dollar shows weakness and negative economic data is released from the upcoming G-8 meeting in Italy. Currently, gold is sitting at $939.60 per ounce, dropping 1.56% for the day yet still gaining 1.46% in the last month.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org