Daily Gold Eagle Update

February 27, 2009 – Gold Eagle price projections continue to look positive by the day and just like the majority of precious metal projections, many financial institutions are upgrading them on a weekly basis in order to keep up with the increased demand that is being seen for safe haven assets. The market has been experiencing a usual sell-off as profit-taking investors seek to make the most out of the 11-month high that was achieved last week, which has brought prices down to two-week lows today. There has been some recent data released about our gross domestic product and how it proves that the United States is nearly in a depression-like economic state. News like this has proven to be unfortunate for equities and currencies yet positive for gold Eagle price projections that could be seen sooner than expected if the metal starts to move up again towards the record high.

During the midday trading hours, gold has fallen once again despite some increases seen in the early morning, and currently the spot price sits at around $936.40 per ounce, down $9.10 for the day and up $50 for the month. The increased physical possessions safe haven demand for precious metals has brought many gold Eagle price projections into the area of $1000-$1500 per ounce as the average during 2009. This increased bullishness could prove to be very good for the metal in the near future. I wish you the best of luck when investing.

Daily Updates Archive

Arthur McGuire

Senior Staff Writer – Gold-Eagle.org