GOLD EXTENDS RECORD WELL ABOVE $1,000 AN OUNCE

by Joe Battaglia | September 16, 2009

Precious metals are on a decisive breakout move with gold rising $12 and silver up $.34. December gold is trading at $1,018.60 and silver is trading at $17.35. The dollar is down 23 basis points at 76.31, oil is about unchanged, and the equity market likewise is only slightly higher. Gold has now extended its 18-month record high well above $1,000, supported by the weaker dollar and technical momentum. One trader said, "We are seeing a lot of problems with the dollar." The trader also said, "The long-term prospects for gold are very good" as there is a bull market for gold compared to paper assets said the Dow Jones Wire Service. Gold also has record highs in other countries, notably India and Europe.

The forecast that I reported from Standard and Poor's said "Should prices break strongly above the $1,000 an ounce area we think prices could rise to the $1,200 to $1,500 an ounce range over the next nine to 12 months." That seems to be the upside here. GFMS said they see gold rising to $1,100 in the next six months. Rob McEwen said he sees gold at $5,000 an ounce by 2014 or 2015. On a short-term basis I reported yesterday that Axel Rudolph told Dow Jones Wire Service that gold could soon reach the $1,015 high and once that is breached head towards the $1,028 July high. It seems that gold is well on its way to those levels.

Those who have not yet gotten into the market or feel they are underweight gold or silver may wish to attack this market with some aggressive moves. It looks as though gold is going to breakout to new all-time record highs. If that occurs, the levels $1,100 to $1,200 to $1,300 are on the cards according to analysts. For now the key level to watch is $1,028. A break above that level will lead to much higher levels. The Dow Jones analyst Axel Rudolph said this morning that, "Gold futures are getting every closer to their $1,028 a troy ounce July 2008 high, which should be reached within a matter of days."

Call Goldline today at 1-877-341-2646 for assistance in getting started with gold or silver. Also, Goldline will be happy to provide you with the free information package that will give you the information you need to consider gold. They will also provide you with free copies of the GFMS Gold Survey 2009 and the Silver Survey 2009. Each of these books has a $595 price, but you can get them for free. Call Goldline at 1-877-341-2646 to receive the free information package.

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 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, 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.

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