Daily Gold Eagle Update

June 1, 2009 – The price of gold Eagles is taking a small step back today as the United States stock market heads in the upward direction, yet it seems like several American investors are still investing in safe haven metals like gold and silver as fears of a deeper and darker financial crisis grows. The United States Dollar in particular seems to be the primary factor that is affecting investment markets at the moment, and currently the fiat currency has fallen to its lowest level since December 18 after posting its biggest monthly loss last month. During May, the price of gold Eagles jumped significantly, nearly $100 as the dollar floundered and masses of investors feared a currency collapse down the road. Despite today’s slightly positive economic sentiment, don’t let this fool you into believing that the financial crisis is anywhere near over, especially since several market analysts and financial institutions are saying that the worst is still to come for the United States and our dollar. It is highly recommended that you keep a close eye on the correlation between the dollar and the price of gold Eagles, as some interesting developments may occur between the two in the near future.

By around 2:30 PM Eastern Standard Time, the price of gold Eagles is seeing a minor decline as the spot price of the metal heads down to $977.40 per ounce, dropping $2.20 for the day yet still gaining $91.60 in the last 30 days. The latest short-term projections are forecasting that the spot price may hit $990 per ounce by the end of the week.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org