Daily Gold Eagle Update

August 3, 2009 – Gold Eagle projections continue looking bullish today as the spot price of the metal extends its gains based on further weakness with the United States Dollar and growing speculation that an economic recovery could mean dangerously high inflation within the next few years. Many commodity prices are currently at six-week highs as signs that the global recession is easing has caused investors to flock into assets that could increase in value during an inflationary period. Several comments by the United States Government have also sparked inflationary pressures, most importantly the ones saying that inflation will be necessary throughout an economic recovery. This should come as no surprise to investors, especially after our massive stimulus and bank bailout packages that were funded with trillions of overprinted dollars. According to a few interesting gold Eagle projections, prices may fluctuate in their current rage until next year when the United States Federal Reserve increases interest rates, thus creating the ideal economic environment for high inflation and significantly higher safe haven demand.

By 2:20 PM Eastern Standard Time, gold Eagle coins are increasing in value as the spot price of the metal climbs to $956.40 per ounce, up $1.90 for the trading day and also up $24.60 in the last 30 trading days. The latest gold Eagle projections are forecasting that spot prices may fluctuate within the range of $925 per ounce to $975 per ounce until the United States Dollar shows significant short-term weakness. This being said, keep a close eye on the Dollar Index and its inverse correlation with gold prices.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org