GOLD EDGES HIGHER

by Goldline.com | September 02, 2010

Gold prices are moving higher on the New York Spot Market as of 10:58 a.m. EST as investors acquire the yellow metal ahead of Friday’s jobs number. Gold was also finding some support from the European Central Bank, as the eurozone's central bank left key interest rates at 1% and President Jean-Claude Trichet said that its short term lending facilities will continue until early next year. (The Street, 9/2/10)

Stocks are holding to modest gains as investors digest reports on unemployment claims and retail sales. The modest advance came after the government said the number of Americans filing for unemployment benefits fell slightly last week. Investors also took in data on worker productivity, pending home sales and factory orders. The reports came one day before the Labor Department releases its monthly non-farms payroll report. (CNN Money, 9/2/10)

Deutsche Bank analyst Daniel Brebner said concerns over economic activity in the United States were leading to "a growing acceptance that if conditions remain poor or deteriorate further, the Fed will move to support growth." According to Brebner, "There is an expectation that deflationary risk is being actively mitigated, and that the risk longer term is increasingly one of inflation.” (Gulf News, 9/2/10)

† 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 Goldline's Account and Storage Agreement along with our risk disclosure booklet, Coin Facts for Investors and Collectors to Consider ®, prior to making your purchase. Goldline's spread, which is the difference between the price we sell our products and the price we buy them back, generally ranges between 5% to 20% on our most common bullion products and 30% to 35% on all other products including our popular European francs, proof coins, silver dollars and half-dollars, and graded coins. 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 1-877-341-2646.
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