GREEK DEBT CRISIS STILL UNRESOLVED

The dollar continues to rally, up 37 basis points at 80.60. That put some negative influence on the metals causing gold to trade down $4 and silver down $.05. Considering the strength of the dollar, gold and silver are doing solid work. Oil is down $.19 at $82.01 a barrel, which also probably contributed to some pressure on the gold market. The Dow is up 10 points. The euro has been under pressure on continuing uncertainty about how and when Greece might get the aid it has requested as it deals with debt issues. The British pound also came under selling pressure after a Bank of England monetary policy committee member warned of a double dip recession in the UK. Gold's pull-back is quite modest considering these factors.

Yesterday, gold rose in spite of dollar strength on safe haven buying on uncertainty about whether Germany and other nations will aid Greece or if the country has to turn to the IMF. Greece has about $10 billion that it needs to refinance. It has been paying approximately 6% interest to refinance its debt so far. That is substantially above the rates that other nations have to pay to borrow.

Russia's gold reserves rose to 20.8 million ounces, compared with 20.5 million worth on January 1st. Russia continues to be a quiet buyer of gold. On January 1, 2009 their reserves were only 16.4 million. They have acquired 4.4 million additional ounces during the course of the year. Other central banks with the resources to diversify into gold are probably doing the same, including India and China. It is somewhat interesting that Greece may have to turn to the IMF for assistance with its debt problems. The IMF's biggest contributors are the U.S. and Japan, both of whom have severe debt problems of their own.

An article that we referred to yesterday from the New York Times dated March 15th points out that by 2012 debt problems for U.S. borrowers including the government, may hit a brick wall. In fact, the government will have to borrow nearly $2 trillion in the year 2012, along with $7 billion worth of junk bonds coming due for refinance over a three year period beginning 2012. Add on to that normal corporate debt refinancing and state and local government refinancings and there may be a tsunami of debt coming due that is impossible to refinance in such a short period of time. That could lead to a debt crisis in the U.S. that could have what the New York Times referred to as "doomsday" or "apocalyptic" consequences.

These are some of the many reasons why investors such as Soros, Paulsen, Einhorn and others are acquiring billions of dollars worth of gold for their own portfolios. Moreover, with Goldman Sachs forecasting gold at $1,390 an ounce over the coming 12 months, gold certainly offers excellent upside potential. Other major banks such as BofA and other are forecasting prices even higher, up to the $1,500 level.

These are all good reasons for investors to consider having some gold in their portfolios. With a slight correction today, it presents an excellent opportunity to accumulate some gold or to add to your holdings, if it is appropriate to do so. Call Goldline at 1-877-341-2646 for assistance with your needs. You may also wish to ask them about their Price Guarantee Program and any special offers that may be in place today. Do not overlook the opportunity to acquire the free information package. It contains excellent articles quoting some of the major banks and brokerage firms, along with a free CD of the interview with Philip Klapwijk and you can have a free copy of Goldline's newsletter. Call Goldline now at 1-877-341-2646.

Investors should ask Goldline to explain the features, benefits and cost structure of the various gold and silver products that are available. Select those that best meet your own personal and individual investing needs and objectives. Investors looking for low transaction costs may wish to consider bullion assets such as American Eagles, Krugerrands, Canadian Maple Leafs, Silver Bags or Silver Bars. However, the Price Guarantee Program is not available with these assets.

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 an decision. Call Goldline at 1-877-341-2646 now to receive your free gold investor package.