Daily Gold Eagle Update

September 10, 2009 - Buying and selling American gold coins has become a popular past-time for a record number of investors within the United states and abroad. Investors who are new to the gold market and even some gold dealers are busy searching out those who are selling American gold coins. While most commodities brokers agree that gold probably won't become impossible to get down the road, they are seeing a growing number of investors who are clamoring for the yellow metal instead of paper assets, stocks, or real estate holdings.

The White House economists reported today that President Barack Obama and his administration have saved or created over one million jobs. That figure does not take into account the 2.5 million jobs that were lost during the same time period. Initial claims for unemployment benefits have been averaging over 500,000 per week for months, dwarfing what some have already called an "inflated" number of one million new jobs. The hot air continues to spew forth from multiple directions and many investors who are not maintaining their principal in cash accounts say the number of new jobs is not the only thing that is suffering from inflation. The US Dollar dropped to a 2009 low against the euro and a two month low against the Chinese yen earlier in the week, and this has caused many to invest in American gold coins instead of American greenbacks.

The cost of one ounce of gold on the NYMEX is $996.20 on Thursday afternoon at 3:50pm EST. American gold Eagle coins are trading at $1055, and the original American gold coin, the Saint Gaudens, is listed in the MS63 grade at $1950 on the PCGS price guide at PCGS.com, with discount dealers trading the coin in the $1800 range. Gold spot and product prices can always be obtained by visiting www.goldprice.net.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org