BARGAIN BUYING EMERGES
Gold and silver are lower again today, as yesterday's dip prompted some profit-taking today. Gold is down $3.80 just after the open, while the dollar is down 2 basis points and oil is down $.17. Silver has given back $.15 in early trading. The equity market is rebounding with the Dow up 58 points. Earlier in the day, gold fell to $1,036.60, but then rebounded on bargain-buying, said Andrew Montano, Director of Precious Metals at Scotia Mocatta. Standard Bank said gold could resume its downward correction before rebounding. Nevertheless, they said yesterday that gold is likely to break above the $1,070 to $1,075 level over the relatively near-term. The profit-taking and correction in gold is prompted almost entirely by the action in the currency markets. The euro fell as low as 1.4853 earlier in overnight markets, and that is the key factor that prompted profit-taking in the gold market.
The Consumer Confidence report showed the index down to 47.7 versus 53.4 in September. This indicates that consumers turned decidedly more pessimistic in October. The Case Schiller Home Price index showed home prices at fall of 2003 levels. This is a gradual improvement from earlier in the year when they dropped to 2002 prices. Home prices are now down 30.2% in the 10-city index and down 29.3% in the 20-city index, however these are a slight improvement over the previous months figures.
This consolidation presents a buying opportunity. Call Goldline at 1-877-341-2646 to get started today. Those who are interested in acquiring metals should consider using Goldline's Price Guarantee Program, which provides a two-week window of opportunity to re-price your transaction in the event that the market should correct after you make your purchase. Ask Goldline for the details of this special program at 1-877-341-2646.
Bear in mind that corrections are normal in all markets, and that in a strongly rising bull market such as we have for gold and silver, the corrections have continued to be buying opportunities throughout the past nine years. None of these corrections have caused the major banks and brokerage firms to alter their overall expectation that gold is a bargain buying opportunity. Just yesterday, Credit Suisse said they are continuing to be overweight gold in their portfolios because they see gold in a rising market. To learn more about analysts' views of the precious metals markets and their price projections, along with discussions about the U.S. dollar and the movement to replace the dollar as the world's currency, call Goldline at 1-877-341-2646. You should also ask for a free copy of the GFMS Gold 2009 Update. This book sells for $450, but you can have it free, if you ask for it. It will give you all of the facts, figures and documentation that you need to properly evaluate whether to acquire precious metals on this bargain buying opportunity. Call Goldline now at 1-877-341-2646.
Ask Goldline to explain the features, benefits and cost structure of the various gold and silver products that are available. Select those that best meet your own personal and individual needs and objectives. Those looking for low transaction costs may wish to consider bullion assets such as American Eagles, Swiss 20 Francs, Krugerrands, Canadian Maple Leafs, Silver Bags or Silver Bars. However, the Price Guarantee Program is not available with these.
If you would like to take advantage of the Price Guarantee Program, which provides you with a two-week window of opportunity in which to re-price your order in the event of a correction, you must select assets with some collectible value such as 20 Francs, Double Eagles and Silver Dollars. Call Goldline at 1-877-341-2646 for further information on the Price Guarantee Program.
To receive the free information package on gold, call Goldline at 1-877-341-2646. You will also receive the Client Account Agreement, a company brochure and a Coin Facts Risk Disclosure Booklet. Read these carefully before you make a purchase. Call Goldline at 1-877-341-2646 now to receive your free gold information package.
†This material has been prepared for private use. Although the information in this commentary has been obtained from sources believed to be reliable, Goldline does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.
You should review Goldine's Account Agreement along with our risk disclosure booklet, Coin Facts for Investors and Collectors to Consider ®, prior to making your purchase. Goldline has a spread or price difference between our selling price, called the "ask", and our buy-back price, called the "bid". That spread varies depending on coin or bar you acquire. Spreads on 1 oz bullion coins, 90% silver dimes and quarters, and one ounce and larger bullion bars are 13%. All other coins have a spread of 28%. There is also a 1% liquidation fee when you sell your coins back to Goldline. The market must go up enough to overcome this spread before an actual profit is achieved. Precious metals and rare coins can increase or decrease in value. Past performance does not guarantee future results. Coins are a long-term, three- to five-year, preferably five- to ten-year investment. We believe precious metals are suitable for 5% to 20% of the average investment portfolio though others may recommend a different percentage.
To receive free information package on gold and precious metals investing, call Goldline at 1-877-376-2643.
- S&P Capital IQ - Gold: $1,900 (in 2012) "Leo Larkin, metals and mining analyst at S&P Capital IQ, thinks that $1,900 gold might not be that much of a stretch [in 2012]. 'Gold has been ..."
- Citigroup - Gold: $2,300 - $2,400 (by end of 2012) "While we remain cautious on Gold in the near term...we continue to believe that the bull market remains intact...we believe that 2012 may be..."
- Leeb Capital Management - Gold: $2,500 - $3,000 (in 2012) "I'll give you my target for gold at the end of 2012, it's going to be trading somewhere between $2,500 and $3,000. This..."
- Global Hunter Securities - Gold: $1,800 (in 2012) "'What I am looking for is a gold price of $1,800 an ounce in 2012,' says Jeffrey Wright, senior research analyst at Global Hunter..."
- US Global Investors - Gold: $3,600 (by 2017) "'People get so caught up with the next three minutes for gold and they should really be focused on the next three years,' says Frank Holmes, ..."
- Goldman Sachs - Gold: over $1,900 (in 2012) "Wall Street investment bank Goldman Sachs predicts that gold's bull run will continue into 2012 with a low interest rate environment and..."
- CNBC - Gold: $2,400 (no period given) "Gold will top $2,400 an ounce. The long-term bull market in gold marches on. Gold won't make a straight shot to a new inflation-adjusted high. As long..."
- Nomura - Gold: $2,000 (by end of 2012) "Nomura has raised its forecast for gold prices to $2,000 an ounce by the end of 2012, from $1,800 earlier. The brokerage said the low-interest rate..."
- Morgan Stanley - Gold: $2,200 (in first half of 2012) "Gold will lead a rally in commodities in 2012 as Europe's sovereign-debt crisis continues to roil financial markets, spurring demand for ..."
- UBS - Gold: $2,050 average in 2012 "[Gold] remains one of the top commodity picks for 2012 as 'most of the factors that pushed gold higher in 2011 are not going away,' according to UBS..."
- Bank of America Merrill Lynch - Gold: $2,150 - $2,200 (average in 2012) "From a technical perspective we believe that the bull trend for gold remains intact… with gold having not yet met any of..."
- TheStreet.com - Gold: $2,500 (by May 2013) "I want to own gold here. I think gold is going to $2,500 eighteen months from now... Gold has been up for ten straight years and this going to be the..."
