TREND FOR GOLD IS BULLISH

by Joe Battaglia | February 12, 2009

The stock market continues to reject the Administrations plan for rescuing the banks. As a result, the financial stocks are down significantly once again, dragging the Dow down 200 points at the open. Gold had been higher prior to the open but it came off $1 in reaction to the weakness in the equity market and a stronger dollar. The dollar is up 86 basis points at 86.64 on the index. Silver is down $.12 and is lightly traded this morning.

Analyst Zachary Oxman, a senior trader with Wisdom Financial said gold has been vacillating on either side of unchanged, meeting some resistance around the $950 level. He said the weakness in equities should help underpin the market. "Today is more about liquidating stocks and getting out of the way of the second leg down in the stock market. Then you are probably going to see gold accumulating again."

The fact is this economic crisis is very serious and the data coming out suggests the economy continues to weaken. While gold is consolidating the recent gains, I think the consolidation may be rather brief. I think next week we may see gold pushing above the $950 level. Once it is above $950, I think $975 is in view promptly. It is important to remember that gold is trading above the key $930 technical area and above a major trend line. This is very significant from a technician's point of view. One trader told Dow Jones Wire Service, "If we hold above $930 today and tomorrow, I think it is signaling a resumption of the bull market." There is excellent support in this market now and according to the Dow Jones Wire Service Technical Analysis the trend for gold is definitely bullish.

Investors should not delay in acquiring gold for their portfolios. Gold and silver are both in excellent bullish patterns and should be accumulated without delay. Call Goldline today for assistance in getting started at 1-877-341-2646. Ask them about how you may obtain free shipping or your choice of utilizing the Price Guarantee Program that provides a two-week window of opportunity to re-price your transaction in the event of a correction. These are both excellent offers and you may wish to take advantage of one of them. Call Goldline at 1-877-341-2646.

Goldline is also offering the free information package, which you will find very helpful. It contains a free CD copy of the interview with Frank Barbera that you will find to be very informative. It also contains articles from major banking and brokerage firms giving their forecasts for the dollar, for gold and for the potential for formal dollar devaluation. All of this information will be helpful to you. Call Goldline at 1-877-341-2646 to receive your free information package. Could gold rise to $5,000? Get the free information package to find out!

Investors should contact Goldline and ask them to explain the features, benefits and cost structure of the various gold and silver investments 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 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 and how you may be able to receive free coins.

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.

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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.

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..."