Daily Gold Eagle Update

April 29, 2009 – American investors who own gold Eagle retirement accounts will be happy to hear that they are increasing in value say as a result of increasing safe haven demand that has been sparked by heavy amounts of negative economic data. The United States Dollar is losing value today on the Dollar Index, dropping for the second day in a row due to speculation that global governments are panicking to contain the swine flu outbreak, and this is creating sentiment that a global economic recovery has been halted. Historically, gold Eagle retirement accounts act inversely when the United States Dollar falls, precisely what we’re seeing at the moment. A very interesting projection from Credit Suisse Group mentioned that if the dollar begins a rally significant enough to sustain over a long period of time, that it would mean the end of the gold rally, yet they believe that inflation and further negative economic data will not make this possible for at least another 12 months. This being said, it is very important that wise investors begin protecting themselves and their hard-earned wealth in the event that the economy gets progressively worse as has been projected.

During the midday trading hours, gold Eagle retirement accounts as well as physical possession bars and coins are showing moderate gains in value as the daily market spot price increases to $899.20 per ounce, up .66% for the trading session and also up 3.27% in the last 365 trading sessions. The overall long-term potential that gold has at the moment is quite impressive to many investors, and this is why we may see more safe haven demand as the months go by.

Daily Updates Archive

Joshua Harris

Senior Staff Writer – Gold-Eagle.org