Gold started the
day lower experiencing a bit of a correction following the huge run up. Gold is currently trading down $3.00 with
the December contract at $1062. If it
can close above $1,061 it would be an extremely positive signal for the gold
market as that level would now be support.
Silver has continued to hold in positive territory, up a penny even
though gold is a bit lower. Both of the
metals were substantially higher earlier in the day. Gold reached a record high of $1072 and silver $18.18 on the
futures markets. The dollar is down 44
basis points at $75.53 while oil is up $.89 at $75.07. The Dow Industrials are up 79 points at 9949
with many of the talking heads indicating that they think the Dow may reach
10,000 today.
Dow Jones wire
service said that "gold futures are back down from their overnight record
extension as participants book profits and producers sell to lock in high
prices. ‘It's profit taking' said George Gero, Vice President with RBC
Capital." This has been a powerful bull
market and gold has run extensively to the upside. As the same is true for silver.
A correction would be both normal and healthy for the market. Many investors will see this as a buying
opportunity and acquire precious metals at these levels.
Yesterday I read a
report on the air that said gold is well supported by demand from China. Southern Cross director Charlie Aitken said
yesterday that the Chinese are buying spot gold on the dips. He stated, "The price action in gold, where
every price dip sees buying support, suggests that someone is operating in the
market soaking up gold. Our strategy is
to be long everything China is short and from a portfolio perspective China is
underweight gold as an asset class."
Dow Jones wire service reported that Aitken said gold is poised to head
to $1200 an ounce and that China needs to increase buying if it wishes to
accumulate meaningful quantities of gold for reserves.
Given those
constructive comments I'm sure that many investors will see this slight
correction as a great buying opportunity.
Call Goldline today at 1-877-341-2646 for information on getting started
with Gold investments. You may wish to
ask for the free gold investors package, which contains excellent articles and
information on investing in gold and silver.
Be sure to ask for a free copy of the GFMS Gold Survey Update. That book sells for $450. But you can receive a free copy simply by
asking for it at 1-877-341-2646.
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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