Daily Gold Eagle Update

March 17, 2009 - Gold Eagle coins are continuing their decline at the moment by falling for the second day in a row due to a sudden rally into unstable stocks and bonds that could become devalued in the near future due to the overprinting of fiat currency by the United States Government. It seems like there is a sudden unexplainable interest coming from investors looking to move into global equities, and it could be a result of the latest economic news that has been released saying that the global financial crisis will come to an end by the end of the year. Whether or not this is true, we need to take into consideration the high possibility of such negative economic effects like hyperinflation that could tear apart at financial markets. Short-term projections are saying that wise investors are going to continue seeking the gold Eagle and other precious metals because of the increasing liquidity and of course the fact that it is scarce compared to fiat currency that is a bit excessive at the moment.

Today the gold Eagle is experiencing some small drops in value due to the spot price coming down to $915.80 per ounce, tumbling $7.30 or .79% for the day and also tumbling $87 or 8.68% for the year due to the all-time record high of gold being set on this exact same day last year. Several market analysts expected the spot price to surpass $1033 per ounce by today, but unfortunately we didn’t see such positive movement in the market due to a bit of speculation that the economy will get better. Let’s see if demand starts to pick up in the near future if things get any worse.

Daily Updates Archive

Joshua Harris

Senior Staff Writer – Gold-Eagle.org