GOLDMAN SACHS SEES $1,200 GOLD BY YEAR-END

by Joe Battaglia | November 10, 2009

The metals are mixed this morning with gold trading up $2.50 at $1,104, while silver is unchanged and platinum and palladium are both a little lower. The dollar is up 15 basis points at 75.17 and oil is up $.77 at $80.21 a barrel. The equities are also up, but only slightly with the Dow up 14 points. Dow Jones Wire Service said the metals are in consolidation mode. That is actually a good thing. It would be excellent to see gold consolidating its gains above $1,100 an ounce. The longer gold holds above $1,100, the greater the chance of moving to $1,200 by year-end as some of the analysts have been forecasting. Gold is certainly helped by higher crude oil prices. It is overcoming the negative influence of the stronger dollar. If gold closes today above $1,100 an ounce,it will be technically a positive development because of options expirations today, which will be in the money.

Dow Jones Wire Service said, "Cash gold is undergoing minor consolidation off Monday's $1,110.15 high, having met its minimum upside price objective at $1,105.70. However, given the strong underlying bull trend that is behind these recent strong gains, corrective dips are considered to be limited … above $1,110.15 would prompt fresh all-time highs towards the $1,150 area, ahead of the more longer-term projected targets at $1,280 and $1,320." That technical observation is very constructive and suggests that investors may wish to continue accumulating gold at these levels. Bank of America/Merrill Lynch is forecasting that gold will break out above $1,500 an ounce in the next 18 months. Deutche Bank said their target is now $1,200 by year-end, and Tom Kendall of Mitsubishi Bank also sees $1,200 by year-end. These are very prominent analysts and their opinions carry great weight.

Dow Jones Wire Service reported, "Goldman sees gold at $1,200 by year-end if TIPS unchanged. Another analyst, Mark Bristow of Randgold Resources said, "Gold prices are likely to hit $1,200 a troy ounce by the year-end." With Dow Jones News Wire reporting so many analysts raising their forecasts for gold, it appears to be a time when investors should at least become better informed about gold. Ask Goldline for the free investing information to assist you in making an informed decision about whether to invest in gold and silver assets.

Call Goldline today at 1-877-341-2646 to acquire gold and silver or to add further positions to your holdings. You may also wish to ask for the free information package, which contains excellent articles and information about the precious metals markets and forecasts from major institutions on their expectations for the price over the next 12 to 18 months. Call Goldline now 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.

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