GOLD STRONG AMID WORSENING GREEK SITUATION

The dollar rose and the euro fell as the Greek situation worsened. Greece formally went to the IMF and asked for $60 billion to tide them over this year. The rush out of euros into dollars caused the dollar to rise 33 basis points to 81.90, while gold dipped back as low as $1,135.20 before rebounding. Gold is showing considerable strength to bounce back in the environment that we have today. Angela Merkel of Germany said that it was imperative to rescue Greece because failure to do so could imperil the European union. This is precisely what I have repeatedly warned about. The IMF customarily demands extraordinary austerity measures when it comes to the aid of a country. In this instance, it may well destabilize Greece politically. Protests are wide spread throughout the country and it will be difficult for the Greek people to accept severe austerity measures, particularly at a time when the economy is weak.

While gold remains range bound during this period of consolidation, it nevertheless demonstrates excellent strength. Support is at $1,136, which again has managed to hold. In fact, I would not be surprised to see gold rally to a minor loss or even a positive close today. Yesterday afternoon, Moody's Investor Service downgraded Greece's debt. Many believe that Portugal and Spain will be following close behind Greece. Perhaps when the aid is finally committed on a formal basis, it will enable the euro to rally and investors will move back out of dollars and into gold and other assets.

In the meantime, it would appear that gold is presenting an excellent buying opportunity. Those who have taken advantage of Goldline's Price Guarantee Program will be happy to see this correction and have the opportunity to re-price their purchase at a lower level to get more gold for their money. Those who are coming into the market today, may wish to consider utilizing that program as well. They site the likely revaluation of the Chinese yuan, which will be positive and the introduction of a gold based account in China as an example of how demand for gold as a store of value may grow across the developing world as incomes increase.

Many of the more prominent analysts are forecasting gold to reach $1,300 to $1,500 during that same time frame. In fact, Eric Sprott of Sprott Asset Management, (an extraordinarily prominent and successful analyst and money manager) said he sees gold rising $500 an ounce over the next six months. That would put gold in the $1,600 range. If that seems extraordinary to you, bear in mind that Merrill Lynch and others are forecasting $1,500 during that same approximate time frame. This morning, Barclay's Capital also told Dow Jones Wire Service that the fundamentals for gold remain positive and that the longer-term trend is bullish.

Call Goldline today at 1-877-341-2646 for assistance in getting started with gold or adding to your holdings if that should be appropriate. Be sure to ask them for the free information package also. It contains excellent articles quoting some of the analysts that I have just referred to with their price forecasts. Call Goldline at 1-877-341-2646.

If you would like to take advantage of the Price Guarantee Program, which provides you with a 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 on gold investing call Goldline at 1-877-341-2646. 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 gold investors package.