Gold and silver
sold off heavily again today, in reaction to the strengthening dollar and
falling oil prices. Gold trading down
$12 and silver is down $.38 in a thinly traded market. Many of the traders have already taken off
for the 4th of July holiday in New York. This market is extremely thin, not just in the precious metals
and other commodities, but also in the equity market. Oil is down $2.47 at $66.84 a barrel. The dollar is up 58 basis points at 80.21 and the Dow Jones
Industrial Average is down 152 points.
The jobs data was
the entire story this morning. The
economy lost far more jobs than had been anticipated and the unemployment rate
jumped to 9.5%, which was worse than had been expected. Employers cut 467,000 jobs in June, running
the unemployment rate up to a 26-year high.
This tended to defuse some of the inflation fears, particularly as
analysts expect unemployment to rise well above 10% by the middle of next
year. Since the beginning of December
2007, this economy has lost a net total of 6.5 million jobs and there are
currently more than 14 million unemployed in this country. The real unemployment rate was reported at
16.5%
As we come to the
end of the week, gold remains in it's well established trading range between
$920 and $950. That makes it a rather
non-descript day and that is what we might have expected given the fact that
the long weekend is directly ahead of us.
As a consequence, I continue to hold the position, as do many analysts,
that this is a buying zone, and investors should take advantage of the
opportunity to acquire gold and silver at these bargain basement prices. Support levels continue to hold, the market
is consolidating and that is a good spot for investors to not only begin
investments in precious metals, but to add to holdings if you have a need to do
so.
Call Goldline today
for assistance in getting started at 1-877-341-2646. You may also wish to ask them about their Price Guarantee
Program, which helps protect investors from some risk of loss for a period of
two weeks. In addition you may wish to
ask for the free information package, which contains excellent information that
will be helpful to all investors and in fact to all citizens as our country is
headed down a dismal path as a result of wildly, out of control spending and
deficits at every level of government and private sector. As an investor we need to not look at just
what is happening on a day-by-day basis, but rather at the big picture. We need to project forward and anticipate
what the affects will be of the wild deficit spending that we are seeing and
the massive increase in debt. Analysts
are consistently saying that this will ultimately cause the dollar to fall
aggressively. Some are worried about an
all out dollar crash that could implode our economy. These are not things to be taken lightly. That is why everyone needs to learn more
about this and learn about insuring your savings against these kinds of
potential catastrophes. To learn more
and to receive the free information package, call Goldline 1-877-341-2646.
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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