METALS STEADY AT OPEN

Gold started out the day unchanged based on a weak dollar as the euro rebounded overnight. It is widely expected that the situation in Greece will be resolved with some sort of a bailout. As a result, the euro rallied, pushing the dollar down 27 basis points. Gold is trading down $6 in early trading while silver is unchanged.

Overnight, French President Sarkozy said major euro zone members would do what is needed to insure that Greece isn't isolated and that measures to help the country with its debt issues are being discussed. However, there is nothing definitive as of this point in time. Iceland is also a significant problem. Great Britain is demanding that Iceland repay British citizens for lost deposits in Iceland banks. An Icelandic referendum rejected the bailout.

From a financial point of view, the debt problems and leverage that exists in the European markets continue to put pressure on the currencies of those countries. From Great Britain to Greece, Portugal, Italy, Iceland and Ireland, the situation with government debt and private debt is overwhelming for those markets. There is a great deal of uncertainty, which has been causing a lot of volatility in all of the markets.

This morning gold is testing support at $1,131.50 and has momentarily broken below that level. It will be important to see if over the next few days gold can regain $1,131.50 and have that establish itself as a strong support level. While we see a correction in the price of gold as priced in U.S. dollars here at home, overseas the situation is very different. Gold made all time record highs last week in terms of euros, Swiss francs and British pounds. Some analysts believe that the possibility of momentum buying from European traders will influence U.S. dollar pricing. They ask whether foreigners know something that Americans aren't onto yet. Dan Norcini said, "The ability of gold to generate buying above $1,130 level is a technical plus. It is also firmly trading above all the major moving averages, which plants the market firmly on a bullish footing."

The internationally renowned Harry Schultz said that gold is developing a crucial higher reaction low and high above top support with $1,229 being his upside measured target. In other words, some of the most prominent market analysts believe that the precious metals market and gold in particular are still quite bullish. It is important to remember that corrections in the context of a bull market tend to be dramatic. The weak holders get shaken out. Consequently, in an overall long-term bull market, investors should acquire precious metal assets by buying the dips. Today presents such an opportunity for investors.

Those who would like to take advantage of the opportunity to acquire gold at a bargain basement price should call Goldline at 1-877-341-2646. Ask them about their Price Guarantee Program, which is unique. It provides some protection against price correction such as those we are seeing today. In addition, ask Goldline for the free information package. It contains excellent articles and information that will be helpful for all precious metal investors and will provide information that most Americans are simply unaware of. It is very helpful to learn the proper role of gold in an individual's portfolio. It is important to understand why gold is considered a safe haven asset and an excellent storehouse of wealth. Call Goldline now at 1-877-341-2646 for the 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 investors package.

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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 Goldline's Account and Storage Agreement along with our risk disclosure booklet, Coin Facts for Investors and Collectors to Consider ®, prior to making your purchase. Goldline's spread, which is the difference between the price we sell our products and the price we buy them back, generally ranges between 5% to 20% on our most common bullion products and 30% to 35% on all other products including our popular European francs, proof coins, silver dollars and half-dollars, and graded coins. 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 1-877-341-2646.
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