Daily Gold Coin Update
July 8, 2009 – Bullion American Eagle prices are falling today side-by-side with major stock indexes and the United States Dollar as many investors are very wary with investing market at the moment based on the recent instabilities and government comments showing mixed speculation about the future of our economy. Despite a significant contraction with major investing markets today, it appears that certified rare American Eagle prices for coins such as the $20 Saint Gaudens and $20 Lady Liberty Double Eagles are increasing as more wise investors are flocking into the certified gold market with hopes of preserving their hard earned wealth with these unique assets.
The gold spot price currently sits at $909.60 per ounce, falling $14.50 or 1.57% for the trading day, and also falling $24.40 or 2.61% in the last 365 trading days. Several short-term market projections are forecasting a spot price rebound by the end of this week if the United States Dollar faces further weakness.
Major investing markets seem to be at a standstill as speculation continues to arise about the outcome of the current G8 meeting. Some of the most interesting speculation that has arisen is based around a new reserve currency that could threaten the United States Dollar down the road. This is creating significantly higher investor caution, especially since a new reserve currency could mean a large-scale shift away from dollar-backed assets, a very serious danger to the United States. Fortunately, gold has proven its ability to thrive during similar economic environments.
Arthur McGuire
Senior Staff Writer - Gold-Coin.com
