Dow Jones Reports Gold Is Forecast To Reach $1,100-$1,200 By Year-End
by Joe Battaglia
Posted: October 1, 2009
Gold is down $3,
while silver is up $.04. Silver showing
excellent strength in the face of a dollar rally. The dollar is up 34 basis points at 77 on the index. Oil is up slightly, gaining $.12 in early
trading at $70.73 a barrel, while the Dow Industrials are down 128 points.
Dow Jones Wire
Service reported that a senior trader at a European bank in Singapore forecast
that the $1,100 to $1,200 range is likely by year-end. Also supportive of the gold market is news
from an IMF report that the dollar's share in global currency reserves fell in
the 2nd quarter, while the overall level of reserves rose. HSBC analyst James Steele said: "Gold prices
have tended to rally when the USD's position as the world's principal reserve
currency is called into question or otherwise undermined." The IMF reported that the US dollar
accounted for 62.8% of total reserves down from 65% during the first
quarter. That is a substantial
reduction in the quantity of dollar reserves on a global basis.
This morning gold
is feeling pressure from the stronger dollar and the weaker equity market. However, the correction is modest and the
fact that silver is higher is also a positive factor. Investors who follow the views of Steele and others and feel that
gold is likely to move substantially higher by year-end, should be accumulating
gold at these levels.
Call Goldline at
1-877-341-2646 to acquire precious metal assets. You may also wish to ask for the free investor package, which you
will find to be helpful in learning more about investing in precious metals. 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.
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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.
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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
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