COUNTER-TREND RALLY

by Joe Battaglia | October 16, 2009

Gold dipped overnight in reaction to another dollar rally. The dollar is up 27 basis points at $75.75 on the index. Gold rebounded to post a $6 gain in New York today. Oil reached a high of $78.18 overnight but is currently at $77.35 down $.22. The Dow Industrials are down 90 points at $99.69. However, the overall trend for the dollar is declining and this is a counter trend rally according to a number of the analysts.

Yesterday,Barclay's Bank said they would buy the dips looking to a pull back in the $1035 range. This morning's pull-back certainly would fall within their parameters. They also see gold moving to $1120 this year and they say the prospects are excellent for a run at $1500 next year.

In the economic news consumer sentiment fell to 69.4 versus 73.5 in September. Moreover, industrial production rose .7% of a percent, which was substantially greater than had been anticipated. In addition, August industrial production was revised to a gain of 1.2% from .8%. Perhaps the economy is indeed beginning to recover. Looking at the overall picture if the economy is beginning to recover then inflationary pressures from the monetary stimulus should begin to show up in the economy sometime next year. That would be bullish for the gold market. Moreover, the deficits continue to explode and investors as well as central bankers are losing confidence in the dollar, which may have a dramatic decline over the next 12 months.

Given all of these factors and the quotes from Barclays, investors may wish to accumulate gold on this consolidative move. Call Goldline at 1-877-341-2646 for assistance with your gold and silver investing needs. Be sure to ask them for the free gold investing information package so you can learn more about investing in precious metals and to learn more about the economic events that are driving all of these markets. In particular you will learn a great deal about the dollar and the reasons why other countries are demanding a new global reserve currency to replace the dollar. This is very important information that will affect every single American. Call 1-877-341-2646 now. If you would like to have a free copy of the GFMS 2009 Gold Update please ask for it. That is a $450 book and you can have it for free. Call now at 1-877-341-2646.

Gold's performance has been spectacular, the prospects are outstanding and the need to preserve wealth and purchasing power is certainly at hand. Call Goldline now to get started with gold at 1-877-341-2646. Also, be sure you ask for the free information package, which contains outstanding articles that you will find very helpful and informative, including information on the movement towards a new global reserve currency to replace the dollar. Call Goldline at 1-877-341-2646.

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 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 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