
GOLD POSTING OUTSTANDING GAINS
Gold is up $15 and silver is up $.30 in the first half-hour of trading. Overnight, gold was as high as $1,163, up $25. While it has come off of the highs, it nevertheless is posting an outstanding gain this morning. The gains in the metals markets are tied with all commodities as it was revealed overnight that China went on a commodities shopping spree in December. The Dow Jones Wire Service reported, "The dollar tumbled as the Chinese news re-ignited risk appetite and extended the carry trade plays into the Monday session ... Technicians say chart base buying occurred as the February futures broke through the highs of the three previous sessions around $1,040 to $1,041 an ounce." The data indicates that China's exports surged 17.7% in December, compared to a year ago. That ended 13 months of decline. It seems fairly clear that the Chinese economy is posting a strong recovery.
With gold now trading above $1,150 an ounce, if the market closes at these levels or above it will suggest a move into the $1,175 range and from there on to $1,200. Standard Bank told the Dow Jones Wire Service that gold may outperform platinum in the near-term. Managed money is also coming into the silver market as professionals extend their net long positions in silver. While the dollar was down sharply overnight, it has recovered this morning, trading down 6 basis points. Given the fact that the dollar has been recovering and gold has held, is bullish for gold. FuturesTech told Dow Jones Wire Service, "Gold's technicals have turned bullish following the overnight rally in Asia."
In geopolitical news there is a crisis going on at Argentina's central bank. The credit rating agencies continue to rate Argentina's debt as barely above expectation of default. Combine that with so many countries in Europe and elsewhere in the world that have dreadful credit ratings and we may be on the brink of sovereign debt defaults. That could really cause gold to take off on the upside.
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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.
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- S&P Capital IQ - Gold: $1,900 (in 2012) "Leo Larkin, metals and mining analyst at S&P Capital IQ, thinks that $1,900 gold might not be that much of a stretch [in 2012]. 'Gold has been ..."
- Citigroup - Gold: $2,300 - $2,400 (by end of 2012) "While we remain cautious on Gold in the near term...we continue to believe that the bull market remains intact...we believe that 2012 may be..."
- Leeb Capital Management - Gold: $2,500 - $3,000 (in 2012) "I'll give you my target for gold at the end of 2012, it's going to be trading somewhere between $2,500 and $3,000. This..."
- Global Hunter Securities - Gold: $1,800 (in 2012) "'What I am looking for is a gold price of $1,800 an ounce in 2012,' says Jeffrey Wright, senior research analyst at Global Hunter..."
- US Global Investors - Gold: $3,600 (by 2017) "'People get so caught up with the next three minutes for gold and they should really be focused on the next three years,' says Frank Holmes, ..."
- Goldman Sachs - Gold: over $1,900 (in 2012) "Wall Street investment bank Goldman Sachs predicts that gold's bull run will continue into 2012 with a low interest rate environment and..."
- CNBC - Gold: $2,400 (no period given) "Gold will top $2,400 an ounce. The long-term bull market in gold marches on. Gold won't make a straight shot to a new inflation-adjusted high. As long..."
- Nomura - Gold: $2,000 (by end of 2012) "Nomura has raised its forecast for gold prices to $2,000 an ounce by the end of 2012, from $1,800 earlier. The brokerage said the low-interest rate..."
- Morgan Stanley - Gold: $2,200 (in first half of 2012) "Gold will lead a rally in commodities in 2012 as Europe's sovereign-debt crisis continues to roil financial markets, spurring demand for ..."
- UBS - Gold: $2,050 average in 2012 "[Gold] remains one of the top commodity picks for 2012 as 'most of the factors that pushed gold higher in 2011 are not going away,' according to UBS..."
- Bank of America Merrill Lynch - Gold: $2,150 - $2,200 (average in 2012) "From a technical perspective we believe that the bull trend for gold remains intact… with gold having not yet met any of..."
- TheStreet.com - Gold: $2,500 (by May 2013) "I want to own gold here. I think gold is going to $2,500 eighteen months from now... Gold has been up for ten straight years and this going to be the..."









