Daily Gold Eagle Update

May 8, 2009 – The United States Dollar has slipped to a one-month low versus the euro while stock markets are struggling to remain partially stable, thus market analysts are creating gold Eagle price projections that are more bullish than earlier in the year based on fears that fiat currencies and equities may continue devaluing. Today in particular it appears like there is some very odd market fluctuation occurring, with the majority of mainstream markets, the dollar and gold Eagles increasing in value side-by-side. This is something that we do not see everyday because typically, precious metals trade inversely to the dollar and stocks. The current fluctuation is mostly occurring because of a tug-of-war between investors who feel that the economy will continue to contract and those who feel that the economy is already getting better. This tug-of-war is expected to continue until significant economic data shows either further economic contractions or growth. Fortunately, several gold Eagle price projections are forecasting higher values down the road in the event that inflation sparks and economic contractions continue.

During the midday trading hours, the Certified Gold Exchange is reporting more long-term preservation positions as several wise Americans are looking to protect their wealth and spending power down the road. The current spot price of gold sits at $914.50 per ounce, jumping up $4.50 for the day and also jumping up $31.50 in the last year. A recent survey from Bloomberg.com resulted in 22/32 traders projecting higher spot prices next week depending on the overall state of the economy and the United States Dollar.

Daily Updates Archive

Joshua Harris

Senior Staff Writer – Gold-Eagle.org