Gold and silver are
higher this morning with gold up $6 and pushing through the $940 resistance
level with ease. Silver is up $.19
trading at $14.20 an ounce in the nearby futures. The rally in the precious metals is due largely to a drop in the
dollar, which fell 56 basis points to 79.84 on the index. The equity market is
also showing weakness this morning. By
ending the week on a positive note and in a breakout mode, gold is
demonstrating considerable strength. It
is likely that gold is nearing the end of its period of consolidation.
Technical analysts
have indicated a breakout above $960 is probably going to lead us back above
$1,000. One analyst yesterday commented
that gold has traced out an inverted head and shoulders formation on the
charts. They said when gold breaks
above $960 the neck line of the technical pattern will be in a completion
process. A break above $990 to $1,010
will ignite a move up to $1,300 an ounce with the potential to rise as far as
$1,500 an ounce. These are constructive
technical observations on the metals market and I think bear considerable
attention.
When you look at
some of the news items that cross the wire services, you begin to realize the
need to own some gold. For example,
California is now set to issue IOU's as the fiscal crisis intensifies. There is a $24 billion budget deficit and
the legislature cannot reach agreement on what kinds of programs to cut to
balance the budget. This is the
country's most populous state and it has a grid locked legislature. Other states have similar problems. This is a cash short fall not seen since the
"Great Depression", said the controller.
Legislatures have absolutely no concept of balancing a budget. They think they can deficit spend
forever. The Federal government has the
same attitude. No one wants to cut
their favorite program or the pork-barrel projects that enable them to buy the
support of voters and contributors.
Consequently, we have this massive budget mess that is leading our
country into a devastating crisis.
There is no doubt that a crisis of this magnitude will ultimately lead
to a collapse of our currency.
That is precisely
what the Chinese and other governments are concerned about. It is the key reason why they are moving
away from U.S. dollars and into gold and other forms of commodities that have
real intrinsic value. We have been
giving away articles that describe this process and that discuss the demands by
China and others to move to a new global reserve currency to replace the
dollar. These are vitally important
articles and information for all investors.
That is why I strongly recommend that everyone call for the free
information package. Articles
discussing the potential for formal devaluation of the dollar are also
critically important. Goldline will
also provide you information on gold in IRA accounts and 401(k) roller over
accounts. Call Goldline for your free
information package at 1-877-341-2646.
Investors who have
been waiting to get into the gold market, should wait no longer. This is a great opportunity to get into gold
and silver at bargain basement prices.
Call Goldline today at 1-877-341-2646 for assistance in getting started
with gold or silver. Goldline has
available the popular 1 Ducat coins at around $180 each. Acquire a tube of 100 for only $18,000.
Investors should ask 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 looking
for low transaction costs may wish to consider 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 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 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.
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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