STRONG DOLLAR AND PROFIT-TAKING
How to Buy Gold at Bargain Prices
Gold coins and bullion fell back on technical chart-based selling as Andrew Montano of Scotia Mocatta said, "We've clearly hit some stops." Probably the most significant thing is that there was no news to prompt gold traders to take positions one way or the other. On the other hand, those interested in how to buy gold coins and bullion might see the recent performance of gold as an indicator to wait. With the heavy-sell off this morning, gold has dropped below the $950 support level. The gold coins and bullion sell-off seems to have been triggered by the repeated failure of gold to break above the $965 to $970 resistance level last week. A stronger dollar against the euro also added pressure, causing gold to fall back $12.60, and silver coins and bullion are also down $.35. For those looking to buy gold and silver coins and bullion, this news may come as a minor setback. The dollar is up 6 basis points at 78.96 and oil is up $.28 at $71.21 a barrel. The Dow is down 30 points at 9,340.
The Canadian Finance Minister said that the G20 nations need to continue their extraordinary stimulus efforts to try to stabilize the global economy. Obviously, he is endorsing more spending and more creation of money out of thin air. Over the longer haul, that should be good for the gold and silver coins and bullion market.
As a consequence, gold coins and bullion remain buying opportunities at these levels. There is a reasonable chance gold will close above the $950 support level. If gold performs this way, it will be constructive for those who wish to buy gold coins and bullion. However, with so many analysts forecasting $1,000 gold by early September and the upside potential being remarkable, gold buyers should utilize today's correction as an opportunity to acquire gold and silver coins and bullion at bargain prices. Call Goldline today at 1-877-341-2646 for assistance getting started.
In the big picture, the real question for those who wish to buy gold coins is if the dollar will remain the world's reserve asset. If you believe it will not, then you should be aggressive in accumulating gold. On Friday, Goldline began giving away a free copy of a Postal Service Manual that defines international mail charges in terms of SDRs. This ties together with the British Airways tickets, which limits their liability in terms of SDRs. These are recognized uses of the SDR as an international global reserve currency. For gold holders, these are important developments, suggesting that the U.S. dollar will, over time, stop being the global reserve currency. That has grave consequences for the dollar and for those of us who hold dollars, but is good news for those holding gold coins and bullion. It signals that, unlike gold, dollar devaluation will continue, which will have an impact on everyone. Goldline is also giving away copies of articles that describe and discuss the development of a new global reserve currency and the reasons why so many countries want that to occur. All of these factors suggest that this is the time to diversify holdings into gold and silver coins and bullion for safety and for purchasing power protection. Call Goldline now at 1-877-341-2646 to receive the free information package.
Ask Goldline to explain the features, benefits and cost structure of the various gold and silver coins and bullion products that are available to you. Select those that best meet your own personal and individual gold coins and bullion needs and objectives. Those looking for low transaction costs may wish to consider gold and silver 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 gold coins and bullion order in the event of a correction, you must buy gold and silver 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 on gold. 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 a purchase. Call Goldline at 1-877-341-2646 now to receive your free 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.
- 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..."
