GOLD FIRMER

by Joe Battaglia | June 25, 2009

Gold started the day up $4.50, rising back towards the $940 level. Gold is up in spite of the fact that the dollar is higher, which is a positive signal for the precious metals markets.  Equities have been trading near unchanged.   Analysts said if gold holds here, it is going to make another stab at the recent highs around $940.  That would attract some short covering.  Steven Platt, analyst with Archer Financial said in the near term we might be seeing some reemerging speculative buying coming back into the market.

The unemployment statistics were worse than expected, showing that new claims for unemployment were 627,000, up about 16,000 from the previous week. The overall GDP growth in the first quarter was down 5.5%, which was less than the preliminary indicators. The economy remains weak and it is likely the unemployment rate will rise to 9.6% in the near term.

Congress is interrogating Fed Chairman Bernanke on the Bank of America transaction. That could have some impact on the markets today. Analysts will be watching his testimony closely.

On balance, gold is doing excellent work, given the Fed's statement yesterday and the firmer dollar. Given the fact that gold continues to hold in positive territory, it presents a buying opportunity at these levels. Investors should acquire precious metal assets now while they remain favorably priced.

Call Goldline today at 1-877-341-2646 for assistance in getting started with gold. They will also provide you with a free gold information package that contains excellent information on investing in gold and articles from several banks and brokerage firms explaining their views of the market and why they think gold is headed dramatically higher over the coming months and years. Call Goldline at 1-877-341-2646 to receive the free information package.

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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