GOLD, SILVER LIKELY TO CONSOLIDATE GAINS

Gold and silver are down slightly ahead of the open and are likely to consolidate the gains of the week before. The performance over this week has been outstanding and it would be normal to expect some consolidation of these gains. However, gold has broken out above resistance and is likely to move up to the $934 level fairly soon. Once it breaks through that level $950 comes into view and from there $1,000. Keep an eye on the Social Security and Medicare problems. These problems are likely to cause the deficit to skyrocket even further and will put extraordinary pressure on the dollar.

Morgil Rubini, the famous economist from New York University who forecast the problems in the banking sector, has now warned that the dollar's role as the world's reserve currency is likely coming to an end. In addition he said the loss of the dollar's reserve status "Would have serious costs for America, as our ability to finance our budget and trade deficits cheaply would disappear. The results would likely be weaker consumption and investment, and slower growth." Rubini believes that the dollar's decline may take more than a decade, or it could happen much sooner if the U.S. doesn't get its financial house in order. He said, "The U.S. must rein in spending and browning, and pursue growth that is not based on asset and credit babbles." He argues for investing in our crumbing infrastructure, alternative and renewable resources and productive human capital – rather than in "unnecessary housing and toxic financial innovation". Dr. Rubini's opinions reinforce the call by the BRIC nations demands for a new global reserve currency. Investors should be prepared for a major development to occur with regard to the dollar in next few years. Those who are not prepared will receive no warning. It is vital that you make preparations in advance. Do so at once.

Looking at the economic data, jobless claims rose 32,000 to 637,000 new claims for unemployment. That was worse than expected. Given the problems with the economy and other issues, it is vital that investors own some precious metals assets. Call Goldline today for assistance getting started. Also question whether you have enough precious metals to provide you the protection that you need. Call Goldline at 1-877-341-2646 for assistance with your precious metal needs. Also ask them for the free information package which contains outstanding articles discussing the calls for a new global reserve currency along with articles giving you forecasts from major banks and brokers on their expected price for gold and silver assets over the coming years. Call 1-877-341-2646 now to receive that free information package.