Daily Gold Eagle Update

May 14, 2009 – gold Eagle coin prices are currently surpassing their recent resistance levels, and several market analysts believe they may be headed in the upward direction, possibly towards the $960 per ounce area in the short-term. Gold Eagle coin prices can refer to two very distinct types of coinages, the first one being the modern-day American Eagles and the second one being the pre-1933 Double Eagles, which are the $20 Saint-Gaudens and $20 Lady Liberty coins. The modern-day bullion American Eagles hold a small premium above the spot price because they do not have any numismatic value, while the pre-1933 Double Eagles carry a larger premium above the spot price because of their numismatic value and non-confiscatability. Speculation about a bullion confiscation has been increasing in the past few months as inflationary pressures and a worsening financial crisis may force President Barack Obama to confiscate all bullion from American citizens in order to prevent an economic collapse. This is why short-term investors with no confiscation fears typically purchase bullion while long-term preservation seeking investors purchase certified rare coins.

By around 3 PM Eastern Standard Time, it appears like safe haven demand is climbing yet again, yet gold Eagle coin prices are seeing limited gains as stocks rally and crude oil falls. The current spot price of the metal is at $927.20 per ounce, jumping up $1.10 for the trading day and also jumping up $62.80 in the last 365 trading days. Many market analysts and financial institutions are highly recommending that wise investors begin a precious metal diversification in the event that the financial crisis takes longer to recover.

Daily Updates Archive

Joshua Harris

Senior Staff Writer – Gold-Eagle.org