Gold and silver are
both higher this morning in reaction to a weaker dollar. Although the dollar is only down 5 basis
points, gold is looking quite constructive, as is silver. That is especially true given the fact that
oil is down $.87 at $69.07 a barrel.
The equity market is also higher with the Dow up 53 points and the
Nasdaq up 15 points.
One analyst says
that gold is waiting for a fresh catalyst to determine direction. However, some note that $1,000 has now
become a fairly solid support level.
Gold could be building a new base above $1,000 from which to launch
another upside attack. Based on
seasonalities, October and November are often good months for the precious
metals, so there is certainly the potential for a test of overhead
resistance.
BofA/Merrill Lynch
said today that gold may rally to $1,500 an ounce by 2011 when oil prices rise
back above $100 a barrel. Since that
represents a 50% increase in a period of just two years, it would appear that
gold is an excellent buying opportunity at these levels. Moreover, they said until 2011 gold will
likely remain underpinned by currency weakness and may rise to as high at $1,150,
said Francisco Blanch, their top commodity analyst as reported on Dow Jones
Wire Service. Deutche Bank said they
expect gold to rise above $1,100 an ounce within the coming year.
Based on these and
other forecasts by major banks and brokers, gold appears to be an excellent
buying opportunity at these levels.
Investors who wish to acquire gold or to add to their holdings should
call Goldline at 1-877-341-2646. If you
would like to receive the free gold investing information, along with a free
copy of the Gold 2009 Survey Update, which is a $450 book for free, call
Goldline 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 gold investment 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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