GOLD GAINS AMID CONCERNS OF INFLATIONS

After three days of consolidation, Gold has returned to its bullish trend on concerns of inflation and lower prices, which has spurred demand from investors. Advances in the U.S. dollar and concern over the SEC's investigation into Goldman Sachs had caused a drop in the price of gold and curbed demand for commodities across the board since last Friday. Gold was up 0.7%, to $1,143.00 an ounce this morning.

The silver market remains bullish as well, with prices increasing 1.3 percent to $17.965 an ounce this morning.

The latest news out of Greece this morning is that the total bailout funds needed to escape its debt crisis and avoid default are nearly $108 billion, which nearly doubles previous estimates. The result is that European countries and the International Monetary Fund will likely extend the bailout over several stages that will reach beyond 2010.

Stocks also inched higher this morning as investors concerns over Goldman Sachs' fraud case were dampened by its strong quarterly earnings. Higher than expected earnings from Coca-Cola, Johnson & Johnson and others also bolstered stocks.

Meanwhile, oil prices rebounded Tuesday after falling nearly 3% the day before. Crude was up $1.15 to $82.60 a barrel.
In other news, European air travel is slowly resuming, but remains far from being "business as usual." According to the International Air Transport Association airlines were "hemorrhaging at least $200 million a day in revenue and are now demanding EU compensation." (Associated Press 4/20) This estimate is considered conservative, however, as it does not include costs such as rerouting planes or caring for stranded passengers.
Turning attention back to precious metals, the long-term outlook for gold looks remains bullish. An article posted this morning on "Business Week" quotes Martyn Whitehead, head of metals sales at Barclays Capital in London as stating, "If inflation begins to creep back, that's a good environment for gold."

If you would like to learn more about some of the analyst's opinions about these markets, call Goldline at 1-877-341-2646 and ask for the free information package. It contains excellent articles on precious metal forecasts and the economy. It also contains an interview with Philip Klapwijk who is the most successful forecaster in the business. You will hear his views for the market this year. Call Goldline now at 1-877-341-2646.

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