GOLD PUSHES THROUGH $935 RESISTANCE

by Joe Battaglia | May 20, 2009

After building a solid base over the past couple of weeks, gold pushed up through the $935 resistance with ease this morning, reaching a high of $941 and holding steady near that level. Gold is up $12.50 in the first hour of trading, while silver is up $.25. The market should now consolidate a little above the $935 resistance. If that provides support, gold will then make a move to challenge resistance at $970 and from there move on to $1,000. The dollar has broken below 82 on the dollar index, and that is a negative signal for the dollar. The dollar is down 73 basis points at 81.25. A falling dollar will be bullish for gold. Particularly if the dollar slides down to the 70 level, it will likely cause gold to make a new record high. Oil is up $1.60 at $61.68 a barrel and trading very near the highs. The Dow Industrials are up 110 points.

With gold now near a two-month high, funds and others are starting to come back into the market. Tom Pawlicki, analyst with MF Global said with the dollar breaking down below technical support, gold could climb back to the $1,000 region in the next several months as investment demand picks up. Moreover, analysts told the Dow Jones Wire Service that once gold breaks above $1,000 an ounce, bigger daily price moves can be expected.

This may be the last window of opportunity to acquire gold at under $1,000 an ounce. Ask yourself whether you have sufficient gold and if not, add to your holdings today. If you do not own any gold, then call Goldline now at 1-877-341-2646. They will assist you in getting started with gold. Ask them about putting gold in IRA and 401(k) roll over accounts. You might also wish to ask them about the Price Guarantee Program and have them tell you the features and benefits of various assets available to you. Call Goldline at 1-877-341-2646.

Ask Goldline for the free information package. It will be very helpful to you. It contains several brand new articles discussing hedge funds moving into gold aggressively, rising inflation expectations and plans by China, Brazil, Russia and others to abandon the dollar as a reserve currency. These are important articles, as is the article that discusses the potential for formal devaluation of the dollar. All of this information will be helpful, whether you are into the precious metals sector or not. Call Goldline at 1-877-341-2646 for your free information package and to get started in gold today.

Contact Goldline and ask them to explain the features, benefits and cost structure of the various gold and silver products that are available to you. Select those that best meet your own personal and individual needs and objectives. If you're looking for low transaction costs you 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.

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