GOLD HOLDS ABOVE $1,000

by Joe Battaglia | September 17, 2009

Spot gold reached ahigh of $1,032.35 and gold for future delivery reached $1,025.80 overnight, butthen eased back on profit taking.  Goldtraded down about $5 in early trading in New York, but rebounded to nearunchanged at $1,018.70 an ounce on the December contract.  Silver reached a high of $17.69, beforeeasing back to a slight gain at $17.44 an ounce on the same contract.  The dollar is up 17 basis points at 76.40and oil is down $.25 at $72.26 a barrel. Given the fact that the dollar is up and oil is down, it is a show ofstrength that gold remains at these levels. It demonstrates that there is excellent demand for gold. 

Michael Kempinskiof Commerzbank said to the Dow Jones Wire Service: “We’ve seen so much (dollar)selling in the past couple of days, but the gold trend still looks allright.”  Dow Jones continued: “Investorsare still willing to buy gold at current prices as they are expecting it toconsolidate above $1,000 and then push above $1,050 Kempinski says.”  Dow Jones Wire Service also said: “Traderssaid little stands in the way of a rally above $1,030 in the coming days, asscrap selling has been light and few investors want to short gold.”

Given thesestatements and those of prominent analysts, like Standard and Poor’s, whichsaid: “Should prices break strongly above the $1,000 an ounce area, we thinkprices could rise to the $1,200 to $1,500 ounce (range) over the next nine totwelve months.”  Of course there aremany other analysts who are talking about aggressively higher gold prices.  The Wall Street Journal reported that BudCasey, the Chief Economist at Casey Research said: “A lot of ratios … get youinto the $4,000 to $5,000 level without any problem.”

Given thoseanalyses and forecasts it seems apparent that gold and silver are bothexcellent buying opportunities at these levels.  Call Goldline today at 1-877-341-2646 for assistance in addinggold to your holdings or increasing your positions if that seems appropriate toyou.  If you would like to receive thefree information package, Goldline will be happy to send it to you if you askfor it.  Be sure that you ask for a freecopy of the GFMS Gold Survey 2009 update. In addition, you will receive the free information package includingexcellent articles quoting major analysts concerning the metals market.  Call Goldline now at 1-877-341-2646.

Investors shouldask Goldline to explain the features, benefits and cost structure of thevarious gold and silver investments that are available to you.  Select those that best meet your ownpersonal and individual investing needs and objectives.  Investors looking for low transaction costsmay 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 notavailable with these assets.

If you would like totake advantage of the Price Guarantee Program, which provides you with atwo-week window of opportunity in which to re-price your order in the event ofa correction, you must select assets with some collectible value such as 20Francs, Double Eagles and Silver Dollars. Call Goldline at 1-877-341-2646 for further information on the PriceGuarantee Program.

To receive the freeinformation package including articles on the dollar, the economy and gold callGoldline at 1-877-341-2646. Goldline also provides several other helpfularticles.  There are a number of otherindependent third party source articles that you will find extremely helpfuland informative.  You will also receivethe Client Account Agreement, a company brochure and a Coin Facts RiskDisclosure Booklet, read these carefully before you make an investment.  Call Goldline at 1-877-341-2646 nowto 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