Daily Gold Eagle Update

May 27, 2009 – Gold Eagle investing has evolved from a speculative diversification into a popular safe haven diversification as many investors from around the United States are beginning to catch on to the trend of precious metal investing during unstable economic times. Today it appears like Gold Eagle investing is stuck in a tug-of-war between pessimistic and optimistic investors because some people think that the economy will recover soon while others think that we could be heading towards a complete economic collapse. In the early-morning trading hours, the spot price of gold saw some minor increases in value, yet it appears like the metal is headed back in the downward direction as uncertainty continues to grow with most types of investments. Many wise investors are still beginning gold Eagle investing today despite the economic scenario because long-term inflationary fears are still very much apparent after our excessive overprinting of United States dollars in order to “stimulate” the economy and bailout banks.

By around 2 PM Eastern Standard Time, the modern-day bullion American Eagles are losing a bit of their value while several of the certified investment grade $20 Saint Gaudens and $20 Lady Liberty coins are holding on quite strong to their value after a second day of losses with gold’s spot price that is currently trading at around $949.20 per ounce, dropping $2.90 for the day yet still gaining $43 in the last month. It appears like the metal is currently experiencing some resistance in the $950 per ounce area, yet when significant momentum pushes the metal past this benchmark we could see a rally that approaches the all-time record high of $1033 per ounce and possibly even further.

Daily Updates Archive

Joshua Harris

Senior Staff Writer – Gold-Eagle.org