Daily Gold Eagle Update

April 30, 2009 – United States gold futures have dropped nearly 2% today based on a rally in Wall Street that has prompted precious metal investors to begin a profit-taking spree, yet many of these investors do not understand the vulnerability with the stock market at the moment along with the benefits that gold Eagle bullion coins hold during times of economic distress. Global stock indexes are increasing in value for the second trading session in a row, mostly after the latest Federal Reserve data saying that the United States recession appears to be easing. Profit taking seems very apparent at the moment, as small, short-term non-inflationary economic data begins to seep in. One of the most important things that several investors are not taking into consideration is the fact that our government has pumped trillions of dollars into a failing economic system, and this may create frightening inflationary pressures down the road that may not be as apparent until things truly start getting worse. In the meantime, investors can diversify into gold Eagle bullion coins along with the investment-grade rare Double Eagles for either short-term profit taking or longer-term wealth preservation purposes.

By around 12:15 PM Eastern Standard Time, gold Eagle bullion coins are losing value side-by-side with the daily market spot price of the metal that is currently trading at $885.40 per ounce, dropping 1.44% for the day and also dropping 3.55% in the last month. May has been projected to be a good month for precious metal investing because market analysts are expecting significantly higher safe haven demand while risk-taking demand could ease.

Daily Updates Archive

Joshua Harris

Senior Staff Writer – Gold-Eagle.org