Daily Gold Eagle Market Update

July 7, 2009 – Gold Eagles are increasing in value today as market optimism is causing many wise American investors to flock back into the metal as a hedge from long-term inflation that has been slowly building within the past few months. The United States Dollar Index is strengthening today, yet the overall strength of the fiat currency could be in some serious trouble as speculation continues to arise about whether or not major global leaders will propose a newer and more effective reserve currency. This is putting significant pressure on the United States Dollar, and we may see some significant market direction after this week’s G8 meeting, especially since a new reserve currency could have a major impact on currency markets along with the prices of gold Eagles. If for example, a new reserve currency did emerge, the dollar could lose significant value because major countries would begin to slowly but surely shift away from dollar-backed assets, which in turn could skyrocket the prices of gold Eagles that historically increase in value when problems occur to fiat currencies. Fortunately, wise investors who protect themselves as of now could hedge their hard-earned wealth from the instabilities that may hammer away at mainstream investing markets down the road.

By around 3 PM Eastern Standard Time, gold Eagles are slowly but surely climbing in value as wise American investors are diversifying into the metal yet again as a hedge from inflation, thus today’s higher demand has pushed the spot price to around $926 per ounce, jumping up $1.10 for the day, yet falling down $8 in the last year.

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Joshua Harris

Senior Staff Writer - Gold-Eagle.org