METALS TAKE A BREATHER

Gold is slightly softer this morning, down $2 on little early-profit taking, while silver is up $.06. Platinum and palladium are also in higher territory. The dollar is down 2 basis points at 79.29 and oil is down $.40 at $61.11 a barrel. Equities are in positive territory with the Dow up 26 points. After the solid up moves over the earlier part of the week, it is reasonable for the metals to take a breather today and perhaps move sideways for a day or two before making another run at pushing through the $940 resistance level. I look for resistance between $940 and $950, with a push above $950 indicating a breakout of the consolidation.

Analysts from BNP Paribas noted that a weekly chart "indicates bullish snap-back reversal fully unwinding last week's decline. If sustained by a firm close Friday, this reversal pattern would be a viable way to begin a strong medium-term rise with scope towards $990 - $1,000 - $1,006 or higher." The BNP report is a strong indicator that there is a good chance of making a move to the upper levels of these ranges fairly soon. Clearly, with Merrill Lynch forecasting that we may see $1,000 an ounce by October/November, the upside looks quite good. The Chief Executive of Sino Gold Mining, Jake Klein, said today that he expects the gold price to pass $1,000 an ounce late this year and for this to establish a new base for the price. The outlook for gold is a positive and investors should be accumulating gold at these levels. Contact Goldline at 1-877-341-2646 for assistance in getting started.

The economic news continues to show weakness in the economy and need for further economic stimulus. CIT fixed income investors are bracing for the worst as it is expected that they will go into bankruptcy. Analysts are warning that there are more credit crises to come. Everyone is concerned about the potential for the commercial real estate bust to hit the banks very hard. In addition, jobless claims fell 47,000, but that was not significant as the numbers were manipulated by a "government adjustment" of 100,000 jobs that really do not exist. This is the second week in a row that they have made a very large "adjustment." Last week they showed an adjustment of 185,000 fictitious jobs. Now they add 100,000 phantom jobs to these statistics. Clearly, the data coming out of government reporting offices is suspect at best.

In addition, the government reported 522,000 new claims for unemployment for the week ending July 11th. That is a poor number. At the same time they said the tally of continuing claims fell by a record 642,000 during the week ending July 4th. That is probably due to the way they calculate this number, dropping off those who have been out of work too long. Moreover, foreclosures rose 15% in the first half of the year, as more people lost their jobs and were unable to make their mortgage payments. The mushroom in foreclosures affected more than 1.5 million homes in the first six months of the year. One out of every 380 homes in the U.S. has received a foreclosure notice. These are very poor statistics.

What this means is that the government may put in another stimulus package and that the Fed will have no choice but to continue to pursue an easy money policy and continue to flood the system with money, otherwise another financial crash will occur. These activities will certainly result in rising inflation pressures over the coming years. It usually takes about 18 months for an expansion of money supply to result in inflation. We are approaching the time when that will begin to emerge as we have seen from the latest inflation data on both PPI and CPI.

The introduction of the Euro-Dollar coins and paper money proposed to be used by Europe and the United States have given rise to a lot of concern among investors. Goldline has had a huge demand for photocopies of the coins and currency that was given to the members of the G8 meeting a week ago. That information continues to be in the free information package, along with articles discussing China and other nations calls for a new global reserve currency and the articles discussing formal devaluation of the dollar. If you read all of these materials and look at the photos of the new money, you will begin to piece together a puzzle that suggests that there is going to be devaluation in conjunction with the issuance of new money. Many think this could result in the loss of sovereignty for our people in this country.

This is important information that should be read by everyone. I encourage you to call Goldline at 1-877-341-2646 and ask for the free information package so you can get on top of this situation. I also urge you to share this information with family members, friends and associates. Call Goldline at 1-877-341-2646 now to get the free information.

Investors should ask Goldline to explain the features, benefits and cost structure of the various gold and silver investments that are available to you. 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, Swiss 20 Francs, 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 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, including articles on the dollar, the economy and gold, call Goldline at 1-877-341-2646. Goldline also provides several other helpful articles. There are a number of other independent third-party source articles that you will find extremely helpful and informative. 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 investment. Call Goldline at 1-877-341-2646 now to receive your free information package.