GOLD RISES ON GLOBAL CONCERNS

by Goldline.com | August 16, 2010

Gold prices are climbing on the New York Spot Market as of 10:55 a.m. EST on signs of a weakening global economic recovery. Investors also bought gold on news that China has surpassed Japan as the world’s second largest economy. The news spooked investors and led them to dump riskier stocks for gold. (The Street, 8/16/10)

Stocks are treading water on the New York Stock Exchange as investors weigh weaker-than-expected economic data and an earlier report that showed slower growth in Japan. Stocks have closed lower for the previous four sessions on signs of a slowing economic recovery. "Investors are still in a bit of a shock from last week's severe drop," said Robert Brusca, chief economist at Fact and Opinion Economics. "Japan's worse-than-expected growth falls into the same pile of disappointing numbers we've been getting, and adds to the growing concern and uncertainty over the global economy." (CNN Money, 8/16/10)

Gold analysts James West told investors gold is “the best investment at this time” based on the “counterfeiting” of paper currencies and the inevitable collapse of the global financial system. West expects gold prices to continue rising over the next five years, telling The Gold Report, “Gold has been growing at an average of $87 per year for the last 10 years, so if I were going to predict where the price is going to be in five years I would say $1,635.” (The Gold Report, 8/13/10)

† 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 Goldline's Account and Storage Agreement along with our risk disclosure booklet, Coin Facts for Investors and Collectors to Consider ®, prior to making your purchase. Goldline's spread, which is the difference between the price we sell our products and the price we buy them back, generally ranges between 5% to 20% on our most common bullion products and 30% to 35% on all other products including our popular European francs, proof coins, silver dollars and half-dollars, and graded coins. 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 1-877-341-2646.
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