DOW JONES REPORTS GOLD IS FORECAST TO REACH $1,100-$1,200 BY YEAR-END

by Joe Battaglia | October 01, 2009

Gold is down $3, while silver is up $.04. Silver showing excellent strength in the face of a dollar rally. The dollar is up 34 basis points at 77 on the index. Oil is up slightly, gaining $.12 in early trading at $70.73 a barrel, while the Dow Industrials are down 128 points.

Dow Jones Wire Service reported that a senior trader at a European bank in Singapore forecast that the $1,100 to $1,200 range is likely by year-end. Also supportive of the gold market is news from an IMF report that the dollar's share in global currency reserves fell in the 2nd quarter, while the overall level of reserves rose. HSBC analyst James Steele said, "Gold prices have tended to rally when the USD's position as the world's principal reserve currency is called into question or otherwise undermined." The IMF reported that the US dollar accounted for 62.8% of total reserves down from 65% during the first quarter. That is a substantial reduction in the quantity of dollar reserves on a global basis.

This morning gold is feeling pressure from the stronger dollar and the weaker equity market. However, the correction is modest and the fact that silver is higher is also a positive factor. Investors who follow the views of Steele and others and feel that gold is likely to move substantially higher by year-end, should be accumulating gold at these levels.

Call Goldline at 1-877-341-2646 to acquire precious metal assets. You may also wish to ask for the free investor package, which you will find to be helpful in learning more about investing in precious metals. Call Goldline now at 1-877-341-2646.

Investors should ask Goldline to explain the features, benefits and cost structure of the various gold and silver investments that are available to you. Select those that best meet your own personal and individual investing needs and objectives. Investors 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 assets.

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 investing, 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 an investment. Call Goldline at 1-877-341-2646 now to receive your free 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.

Get Your FREE Investor Kit!
Learn how to acquire Gold and Silver
Complete the form below to receive your FREE kit:
Title:
First Name:
Last Name:
Phone:
Zip:
Please check this box to sign this form and confirm that Goldline may send its free investor kit to you and contact you using the phone number above.
Address:
 
City:
Country:
State:
Zip:
Please check this box to sign this form and confirm that Goldline may contact you using the email address above and send its free investor kit to you for free.
Your Investor Kit will include
  • An Introduction to Precious Metals
  • Advantages of Owning Gold and Silver
  • Popular Coins and Gold Products
  • How to Acquire Precious Metals and Rare Coins