Daily Gold Eagle Update

May 1, 2009 – Gold Eagle values are showing some interesting fluctuation today, and in the early morning trading hours we saw them drop moderately, but by 1 PM Eastern standard Time, they had recovered losses and started to head into the green. It’s important that American investors understand that gold Eagle values could refer to modern-day bullion Eagles or certified investment-grade Double Eagles. The reason I say this is because bullion products trade closer to the daily market spot price while certified investment-grade rare coins traded loosely with the daily market spot price, thus giving them their historically preservative attributes. Since 2001, investors have seen both of these coins increasing in value significantly, sometimes more than 300%, a major difference when compared to mainstream financial markets like stocks and bonds that were withering away due to the increasing problems with the United States economy.

By around 1 PM Eastern Standard Time, it appears like gold Eagle values are showing a small rebound for the trading day after seeing moderate losses in the early-morning trading hours, and the spot price is currently sitting at around $887.50 per ounce, jumping up $1.30 for the day yet falling down $39.90 in the last month. Short-term projections for May are forecasting between $930 and $960 per ounce depending on the overall state of the financial crisis. Market analysts are recommending that investors who are diversified in precious metals begin tracking the daily news as well as any upcoming economic data that could push spot prices even higher.

Daily Updates Archive

Joshua Harris

Senior Staff Writer – Gold-Eagle.org