METALS SOAR

by Joe Battaglia | April 01, 2010

Gold and silver are continuing to post strong gains along with most of the other markets. Gold is up $11 and silver is up $.40. That means gold is now trading about $1,123, which is a breakout move on the upside. Silver likewise on a breakout move trading at $17.93 and looking as though it's going to push above $18. Platinum and palladium are also strongly higher, with platinum up $18 and palladium up $12. The U.S. dollar is up 3 basis points, which demonstrates that gold is even stronger. It is rising in terms of every currency on earth. Oil is up $1.04 at $84.80 a barrel.

The Dow Jones Wire Service reports that there is a lot of money coming into the gold market from managed money accounts, ahead of the long Easter weekend. Traders who had previously sold short are trying to exit their positions. Consequently, there is somewhat of a short covering tone to this rally. Gold has also been helped by some recovery in the euro from its earlier lows. Tom Pawlicki, analyst with MF Global also said that gold was supported by a report saying that a U.S. Naval ship fired on a pirate ship outside of Kenya. Any kind of geopolitical concerns tend to prompt save haven demand for gold.

On a technical basis, not only has gold broken out above resistance at $1,121, it has also passed through the March 3rd and March 17th highs. Next resistance is $1,135 and then $1,146.50. Gold has nearby support at $1,112. Given the performance of the markets and the prospects for economic difficulties along with geopolitical problems, it seems to be appropriate to invest in gold at these levels. Invest Tech Asset Management is positive on gold, arguing that investment demand will force gold up to around $1,300 over the next six months. That is consistent with the forecast from Merrill Lynch forecasting $1,200 and Goldman Sachs forecasting $1,350 in the same approximate time frame.

If you would like to take advantage of the potential for significant gains and the potential to protect your nest egg with some gold, call Goldline at 1-877-341-2646. Ask them for their specials and ask them to explain their Price Guarantee Program. In addition, be sure you ask for the free information package. It has several articles that you will find informative. In particular, you will find a brand new article that discusses the largest bank in China developing gold programs to offer small quantities of gold on a daily basis to all of its 200 million clients. This is important information that you should have at once. Call Goldline at 1-877-341-2646 for your free information package.

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 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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