Daily Gold Coin Update
May 14, 2009 – American Eagle prices are seeing minor gains for the trading day, side-by-side with United States equities while the dollar continues heading in the downward direction. It appears like financial markets are in a bit of a dilemma at the moment, especially since mixed economic data in sustaining the tug-of-war between optimistic and pessimistic investors. US jobless claims data has surpassed their forecasted highs, and unemployment levels may climb up to 10% by summertime. For those who don’t know, the 10% unemployment level is historically the point when a nation is in an economic depression, and unfortunately we may see this number much sooner than we had expected. This should not come as a surprise to many, especially since our government has pumped trillions of dollars into this economy in order to prolong an economic collapse. Wise investors are not hesitating with their hard-earned wealth, and projections are expecting safe haven demand for gold to increase significantly in the next few months as the dollar contracts and equities flounder. Fortunately, American Eagle prices are being considered undervalued from their projected levels that forecasted more than $1000 per ounce by now, and this could be the ideal purchasing opportunity for those investors who want to take advantage of the precious metal market before it’s too late.
By around 2:30 PM Eastern Standard Time, American Eagle prices for both the bullion and certified rare Double Eagles are continuing to increase as the gold spot price surpasses its five-week high up to $927.50 per ounce, moving up $1.40 for the day and also moving up $63.10 in the last year. The inverse correlation with the United States Dollar and American Eagle prices continues, so keep a close eye on this important economic factor in order to have a better understanding of short-term market movement.
Arthur McGuire
Senior Staff Writer – Gold-Coin.com
