Daily Gold Eagle Update

July 10, 2009 – Several investment-grade US gold coins are inching their way upwards today as the gold spot price has made a small comeback despite a stronger United States Dollar Index and short-term speculation about weakening safe haven demand. The spot price of gold is currently fluctuating in the area of $913.30 per ounce, up about $1 for the trading day. The powerful inverse correlation between the dollar and US gold coins continues today, thus it is very important that short-term profit seeking investors keep a close eye on both markets in order to potentially maximize their investment potential.

According to several market analysts, safe haven demand could weaken within the next few weeks if the dollar builds strength as a result of “confidence building” remarks by several government officials. It appears that many investors are being led by these displays of confidence instead of taking a serious look at the reality of our situation. The United States is nearly $12 trillion in debt as nationwide unemployment approaches 10%, and to make matters even worse, government officials are now discussing a new trillion dollar stimulus package that could continue withering away at the long-term future of our dollar. Fortunately, US gold coins like the American Eagles, $20 Saint Gaudens and $10 Indian Heads could thrive during our upcoming inflationary period because historically, the metal increases in value during times of economic distress. Are you ready for a worst-case scenario in our economy? If not, now may be a good time to explore your options with US gold coins.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org