This morning gold
traded as high as $1,006.40 on the December contract before easing back to a
more modest $3 gain at $997.10 an ounce.
Silver reached $16.52 before easing back to a $.12 gain. The metals moving up on a weaker dollar,
which fell 31 basis points to 76.82 and oil is about unchanged up $.06. The Dow Industrials are down 124 points on
disappointing data on the Chicago Purchasing Managers index. The PMI was weaker than expected for
September, coming in at 46.1 a fall from the 50 reading in August. It was expected to be up 2 points to 52. The Dow Jones Economic Sentiment indicator
has also flashed a warning about a possible double-dip recession in the U.S.
economy. September's decline was the
first since February. However, the 2nd
quarter GDP report was better than expected, but the potential gains may have
been tempered by a worse than expected ADP job survey earlier in the day, which
showed more job losses than had been forecast.
The private sector lost 254,000 jobs in September. When the government's job loss data comes
out on Friday, it is expected to show an increase in unemployment to 9.8% from
9.7% in August.
Traders felt the
economic data was on balance bullish for the gold market and bid up the gold
and silver markets accordingly. An
analyst from Standard Bank told the Dow Jones Wire Service: "Our strategy
remains one of buying the dips. Good
support is at $985 and $980. Resistance
is at $1,003 - $1,005 and $1,010."
If buying the dips
is good enough for Standard Bank to recommend it to their clients, then perhaps
today's investors should be looking at the gold market as a bargain buying
opportunity. Call Goldline today to
acquire gold or silver assets or to add to your holdings at
1-877-341-2646. You may also wish to
ask Goldline for their free gold investor information package. It contains information that will assist you
in arriving at a decision when you are considering gold for your investment
portfolio. Also, be sure to ask
Goldline for a free copy of the Peter Grandich CD interview. Grandich recently spoke at the Resource Investment
Conference in Toronto, Canada. People
paid money to go and hear him speak there.
You can hear his remarks and observations for free on the CD. Call Goldline now at 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,
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 on gold investing call Goldline at 1-877-341-2646. 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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