Daily Gold Eagle Update

May 4, 2009 – Gold Eagle projections are rising yet again this year as more market analysts believe that further increases may lie down the road for both the modern-day bullion American Eagles and certified investment grade rare Double Eagles. In the beginning of the year, gold Eagle projections were stuck in a tug-of-war between bullish and bearish forecasts because several market analysts believed that the economy would recover while others believed that an economic depression was on the way. Nowadays, it appears like the latest negative economic data is creating speculation that there may be worse to come for the United States economy, and this is creating more bullish predictions that are backed by uncertainty with the dollar and mainstream financial markets. The latest gold Eagle projections are expecting the spot price of the metal to climb up between $1200-$1500 per ounce by the end of the year due to significantly higher safe haven demand as the dollar may crumble and equity indexes slide side-by-side with major corporations.

By around 12:45 PM Eastern Standard Time, the daily market spot price of gold is increasing based on higher safe haven demand that has pushed the metal up to $903.40 per ounce, increasing 1.99% for the trading day and also increasing 1.07% in the last 30 trading days. A recent survey by Bloomberg news reported that 59% of traders, investors and analysts believe that spot prices could climb this week as the United States Dollar faces inflationary pressure due to the Federal Reserve purchasing billions of dollars in toxic debt.

Daily Updates Archive

Joshua Harris

Senior Staff Writer – Gold-Eagle.org