PRECIOUS METALS FORGE AGGRESSIVELY

by Joe Battaglia | August 03, 2009

Gold and silver continue to forge aggressively higher. Gold is up $5 trading at $961 on the nearby futures. It had reached as high as $966.90 before easing back on profit-taking. There is resistance between $960 and $965. It would very helpful if gold would push through those resistance levels this week. A move above $965 would signal that the way is open to test $990. The dollar is weaker, which is supportive of gold. The dollar is down 36 basis points. Oil was up over $2 for a while, but profit-taking hit that market as well. Oil is up $1.74 at $71.20 a barrel. The stock market is also firmer fueling some inflation fears, which are additionally supportive for the metals markets. Gold is now at its highest level in 1½ months and is looking more constructive. Funds have increased their net long position in silver last week on a combination of fresh buying and short covering. Meanwhile they have reduced their net long position in gold. The dollar fell to a one month low against the euro, which is also supportive for the gold market.

Anglo Gold said that their bullish outlook on gold makes their hedge book redundant. Last week we saw they had been reducing their hedge book by a significant amount. They also said they will continue to reduce their hedge book to a point to where they will be hedge free in 2014. The CEO said, "The reasons we have put the hedges in place have effectively gone away, since we have a solid outlook for gold." Economist Nuriel Roubini said gold will rally if inflation picks up. Since the government and the Fed have been flooding the system with money and deficits, it is likely inflation will increase pushing gold higher.

All of these factors combined with the demands for a new global reserve currency are reasons to accumulate gold at these levels. The fact of the matter is that the dollar has too much debt behind it and the Fed is printing too much money for it to remain the world's reserve currency. As a consequence, many are accumulating gold aggressively. If you do not own gold, or if you do not own enough gold, then you should be acquiring it now before this market breaks out on the upside and heads towards $1,000 once again.

Call Goldline at 1-877-341-2646 for assistance in getting started with gold. Ask them about their Price Guarantee Program and about putting gold and silver into IRA and 401(k) rollover accounts. If you would like to receive the free information package, which contains information on the dollar being replaced as the world's reserve currency and the consequences of that, call Goldline now at 1-877-341-2646. In addition, be sure you read the various articles and the forecasts by major banks and brokers for gold and silver assets. You will also receive a free copy of the American Advisor Newsletter. Ask how you can get a one-year subscription for free. Be sure to read the article written by Philip Klapwijk, discussing China's purchases of gold. It is indicative of where gold and the dollar are headed. Call Goldline for the free information package 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 to you. 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 products.

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 including articles on the dollar, the economy and gold call Goldline at 1-877-341-2646. Goldline also provides several other helpful articles.  There are a number of other independent third party source articles that you will find extremely helpful and informative. 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 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.

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