GOLD PULLS BACK AFTER UPSURGE
Gold broke down below support at $1,160 and once it did, it fell all the way back to $1,150 an ounce before finding a bottom. Silver dipped as low as $18.05 before coming back to a $.25 drop at $18.17 an ounce. It's surprising that the metals came off given the fact that the dollar is down 20 basis points. However, oil is also weak. It is the fifth straight decline for oil, down $.90. Analysts on the Dow Jones Wire Service said that gold pulled back as some participants booked profits after the substantial upsurge that we have seen in the past several weeks. The move came as some of the recent concerns about Greek debt eased, but nevertheless worries about sovereign debt in Europe are ongoing and even in the U.S., sovereign debt issues remain a longer term support of influence, according to the analyst.
Gold and silver aren't the only commodities to see some profit-taking. Commodities in general have pulled back on profit-taking and metals seem to have been caught up in that trend. Some analysts (Dow Jones Wire Service) said that gold was simply due for a pull back and period of consolidation after its recent rally. They also commented that the metal is technically solid after recently setting record highs in euros, pounds and yen.
Consequently, many investors who would like to own gold or add to their holdings should consider the possibility of acquiring metals on this dip. Buying the dip is a sound strategy in an overall bull market, which precious metals are in. This is also a good opportunity to consider Goldline's Price Guarantee Program to provide the confidence that one needs to come into the market on the correction. Call Goldline today at 1-877-341-2646 for further information on getting started with precious metal assets. Be sure to ask them about the details on their Price Guarantee Program.
In addition, investors should be aware that the trade deficit increased 7.4% in February, which is indicative of the fact that too many of the things that we use and consume come from overseas. Without substantial and organized effort to restore American jobs, these problems will continue. In addition, there are ongoing concerns about the potential for cutbacks in entitlement programs and tax increases over the next several years. All of these factors are important for today's investors. You should consider these issues into your investing decision-making process.
While we haven't discussed geopolitical issues for some time, nevertheless, these are also factors that can affect your investing decisions. Investors who study more and learn more tend to have better performance than those who invest blindly. Therefore, it is always wise to become as informed as possible. Consequently, you may wish to contact Goldline for free information on investing in precious metals so that you can acquire more information on these assets. 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 a decision. Call Goldline at 1-877-341-2646 now to receive your free gold investors 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.
- S&P Capital IQ - Gold: $1,900 (in 2012) "Leo Larkin, metals and mining analyst at S&P Capital IQ, thinks that $1,900 gold might not be that much of a stretch [in 2012]. 'Gold has been ..."
- Citigroup - Gold: $2,300 - $2,400 (by end of 2012) "While we remain cautious on Gold in the near term...we continue to believe that the bull market remains intact...we believe that 2012 may be..."
- Leeb Capital Management - Gold: $2,500 - $3,000 (in 2012) "I'll give you my target for gold at the end of 2012, it's going to be trading somewhere between $2,500 and $3,000. This..."
- Global Hunter Securities - Gold: $1,800 (in 2012) "'What I am looking for is a gold price of $1,800 an ounce in 2012,' says Jeffrey Wright, senior research analyst at Global Hunter..."
- US Global Investors - Gold: $3,600 (by 2017) "'People get so caught up with the next three minutes for gold and they should really be focused on the next three years,' says Frank Holmes, ..."
- Goldman Sachs - Gold: over $1,900 (in 2012) "Wall Street investment bank Goldman Sachs predicts that gold's bull run will continue into 2012 with a low interest rate environment and..."
- CNBC - Gold: $2,400 (no period given) "Gold will top $2,400 an ounce. The long-term bull market in gold marches on. Gold won't make a straight shot to a new inflation-adjusted high. As long..."
- Nomura - Gold: $2,000 (by end of 2012) "Nomura has raised its forecast for gold prices to $2,000 an ounce by the end of 2012, from $1,800 earlier. The brokerage said the low-interest rate..."
- Morgan Stanley - Gold: $2,200 (in first half of 2012) "Gold will lead a rally in commodities in 2012 as Europe's sovereign-debt crisis continues to roil financial markets, spurring demand for ..."
- UBS - Gold: $2,050 average in 2012 "[Gold] remains one of the top commodity picks for 2012 as 'most of the factors that pushed gold higher in 2011 are not going away,' according to UBS..."
- Bank of America Merrill Lynch - Gold: $2,150 - $2,200 (average in 2012) "From a technical perspective we believe that the bull trend for gold remains intact… with gold having not yet met any of..."
- TheStreet.com - Gold: $2,500 (by May 2013) "I want to own gold here. I think gold is going to $2,500 eighteen months from now... Gold has been up for ten straight years and this going to be the..."
