CPM GROUP GOLD TO RISE TO $1200
The dollar rebounded today up 37 points at $75.59, which led to a correction in the precious metals complex. Gold traded down $10.00, silver down $.31 platinum and palladium both down as well. The equity market likewise is down with the Dow giving up 6 points in early trading to 10,010. Oil, however, is in positive territory gaining $.28 at $75.46 in the first half hour of trading. Analysts told the Dow wire that a stable, stronger dollar is sparking some profit-taking in gold while producers and institutions that lease gold are selling on holiday demand concerns. This is the first substantive correction that we have seen in some time. Gold has risen $70 this month and managed to close above $1,000 an ounce every day since the first of the month.
Gold has had this tremendous rally without any significant retracement, consolidation or profit-taking. In other words, the short story is that a correction and consolidation is normal and healthy for the market. It also provides investors an opportunity to acquire precious metal positions at levels that they have missed on the previous rallies. Interestingly, gold has held nicely above $1,050, which was a key resistance area that has now become a key support level. If gold were to trade now between $1050 and $1075 for a period of time it would build a nice base from which it could launch an assault on $1100.
Today's investors may choose to take advantage of Goldline's price guarantee program, which provides a two-week window of opportunity to reprice your transaction in the event of a further correction. With the most prominent analysts from major banks, brokerages, economists and market strategists all looking for gold to move dramatically higher, I suspect today presents you with a great buying opportunity to accumulate precious metal assets. James Moore, a noted analyst told the Dow Jones wire service that, "Weak dollar, fundamentals and rising equity and risk sentiment continue to paint a supportive back drop for further gains in the precious metals that have risen $60 in almost a straight line gold appears to be running out of steam and while we wouldn't rule out fresh highs in the immediate future, the metal would benefit from a period of consolidation to enable the metal to sustain recent gains." Barclays Capital said, "We are sticking with the up trend. We are looking to buy dips against $1035 for a move back to $1120 triangle objective." They also said that in to next year the prospect for a run to $1500 are possible. These technical analysts at Barclays have done excellent work in the past and their forecasts have been outstanding. CPM Group told Bloomberg wire that gold will rise to $1200 by year end. Call Goldline today to take advantage of their recommendation to buy the dip at 1-877-341-2646. Also be sure that you ask for the free information package and ask for a free copy of the GFMS Gold Survey 2009 Update. That is a $450 book that you can receive for free just by asking for it. Be sure you also read the various articles and information that are available. Call now at 1-877-341-2646.
Gold's performance has been spectacular, the prospects are outstanding and the need to preserve wealth and purchasing power is certainly at hand. Call Goldline now to get started with gold at 1-877-341-2646. Also, be sure you ask for the free information package, which contains outstanding articles that you will find very helpful and informative, including information on the movement towards a new global reserve currency to replace the dollar. Call Goldline at 1-877-341-2646.
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.
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†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.
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- 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..."
