Gold and silver are
both up aggressively again this morning.
Gold trading up $11.00 while silver is up $.24. Both of these metals are showing exceptional
strength largely in reaction to a huge drip in the dollar. The dollar is down 1.89 at $76.09 on the
index. That is an enormous decline in
the dollar. Oil is up $1.86 at $73.63
largely in reaction to the dollar. The
Dow Jones wire service reports that managed accounts held their net long
positions in silver and gold. This
suggests that they are anticipating considerably higher price levels. The British pound is also weakening which
further impacts the dollar and helps gold to be higher. The volume is light today due to a variety
of holidays around the globe.
The action in both
the dollar and gold suggests that the gold bull market is set to continue with
much higher prices likely in the near term.
Analysts have said that once gold decisively breaks above $1050, which
it has, that the next target would be $1075.
A break above that would carry gold to $1100 pretty easily. Last week we saw a number of analysts indicate
that they see $1100-1200 by year-end.
Some analysts say that we could see $1100 in a matter of a few
weeks. Given these forecasts from firms
such as Sterling Smith who is forecasting the next resistance at $1075,
Barclays Cap. Forecasts $1500, Ross Norman forecasting $1250 by year-end. Afshin Nabavi head of trading and physical
sales at MKS told Dow Jones wire that he expects gold to trade up to "between
$1200 and $1300". Look also to the
forecasts from Merrill Lynch and others who are forecasting gold in the
$1100-$1200 range. Last week Bank of
America-Merrill Lynch said that investors should stay defensive and are
"recommending a defensive posture favoring gold". Noted investor, Jim Rogers forecasting that gold will hit $2,000
within the decade. The Telegraph
newspaper out of the UK said "you can date the end of the dollar hegemony from
China's decision last month to sell it's first batch of sovereign bonds in
Chinese Yuan to foreigners." This is a
move, as I said a week or so ago, that is likely to lead to the Chinese
currency becoming a reserve currency.
All of this is very
negative for the US dollar and very bullish for gold. One Chinese analyst even said that gold may become the interim
currency as the world moves away from the dollar as the reserve currency. Market Watch had an article in which they
quoted the Adens Report, "the focus now is on the next phase of the current
rise. If we continue to use
proportions, the bull market's 2nd rise from 1976-1980 gained
750%. Using the same growth and
applying it to the current bull market, we can see gold eventually reaching
$4100 during the next run up. And if
you take the entire bull market gain in the 1970s at 2300% and extrapolate,
then $5800 would be the equivalent upside target."
Whether these
extraordinary targets will be reached remains to be seen. However, it is clear that analysts see gold
moving dramatically upward from these levels.
Therefore, gold presents an excellent investment opportunity at these
price levels. Call now to get started
with gold at 1-877-341-2646. Also ask
for the free information package, which contains many of the articles that we
have been referring to. Call
1-877-341-2646.
Given all of these
forecasts and the weakness of the dollar, it is responsible to consider
diversifying your holdings with gold and silver assets. Gold's performance has been spectacular, the
prospects are outstanding and the need to preserve wealth and purchasing power
is certainly at hand. Call Goldline now
to get started with gold at 1-877-341-2646.
Also, be sure you ask for the free information package, which contains
outstanding articles that you will find very helpful and informative, including
information on the movement towards a new global reserve currency to replace
the dollar. 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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