Gold and silver both opened higher
adding to yesterday's gains. This is a
sign of extraordinary strength in the market.
I say this because the gains yesterday were substantial and today we
continue to see follow through buying.
Silver is up $.13. With gold
having broken out decisively above the $950 level, oil up $1.16 at $100.80 a
barrel, and the dollar continuing down losing 8 basis points to 74.13, one can
say we have a perfect storm situation for the precious metals. I would expect them to continue to bull
upward. The next significant level of
resistance should be around $980 to $988.
From there $1,000 should be achieved quite easily. I agree with many of the major bank analysts
and others who think gold will probably hit $1,000 an ounce within thirty days.
The equity market remains weak with
the Dow down nearly 100 points.
Analysts said rising oil and the falling dollar and stocks created safe
haven demand for gold bolstering the price.
Carlos Sanchez, an analyst with the CPM Group said, "Gold has been that
hedge against these uncertain times. It's
been the safe haven." James Moore of
the Bullion Desk told the Dow Jones Wire Service that continuing investment
demand will ultimately propel gold to $1,000 an ounce. One would expect to see some period of
consolidation of the gains. I believe
we will take a week or two to develop a base above the $950 level to support a
more substantial advance to the $1,000 level.
Clearly, the bull trend remains in tact and is likely to continue for
some considerable period of time.
Silver is also looking
remarkable. Silver supplies are very
thin. Silver is out performing gold at
this stage of the cycle. I would expect
that silver will continue to out perform gold due to severe shortages and
increasing demand. For that reason,
Goldline has begun a "Silver Special" to assist investors in taking
advantage of this opportunity. Acquire
$5,000 worth of pre-1964 silver half dollars and you will receive free
shipping. You may also add other
products to that order. For example,
you could acquire 29 Swiss 20 Francs and receive the 30th free,
combine it with the silver investment and receive free shipping on the entire
order. Call Goldline now to learn more
about that offer at 1-877-341-2646.
Be sure you ask the folks at
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 who are looking for low
transaction costs may wish to consider bullion assets like Krugerrands, Maple
Leafs, American Eagles, 90% silver bags or bars. Investors who would like to take advantage of Goldline's Price
Guarantee Program, which provides you with a two-week window of opportunity to
re-price your order in the event of a correction, may wish to consider assets
with collectible value such as the Swiss 20 Franc. This program is not available with bullion assets. These coins also provide some measure of
privacy and protection against confiscation.
Call Goldline now to learn more about investing in precious metal assets
at 1-877-341-2646.
I also recommend that you ask
Goldline for the free information package.
It contains excellent third party information source articles discussing
the metals markets and many of the major banks and brokerage firms price
targets. You will find this very
informative and helpful. You will also
receive a company brochure that explains the reasons why gold protects your
savings against inflation, protects you against the falling dollar and can in
fact have the potential to make extraordinary gains during economic conditions
such as we see today. You will also
receive a Coin Facts Risk Disclosure booklet, which you should read carefully
before making an investment. Call
Goldline for the free information package at 1-877-341-2646.
You should carefully read Goldline's Account and Storage Agreement and our risk disclosure
booklet, Coin Facts for Investors and Collectors to Consider. These provide important
information that you should consider before investing in precious metals. 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 semi-numismatic coins such as the European francs, proof
coins and graded coins. The market must go up enough to overcome this spread before an actual
profit is achieved. All markets go up and down. 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 portfolio though others may
recommend a different percentage. Please see Goldline's risk disclosure materials for additional
information.
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