Gold dipped
overnight in reaction to another dollar rally.
The dollar is up 27 basis points at $75.75 on the index. Gold rebounded to post a $6 gain in New York
today. Oil reached a high of $78.18
overnight but is currently at $77.35 down $.22. The Dow Industrials are down 90 points at $99.69. However, the overall trend for the dollar is
declining and this is a countertrend rally according to a number of the
analysts.
Yesterday,
Barclay's Bank said they would buy the dips looking to a pull back in the $1035
range. This morning's pull back
certainly would fall within their parameters.
They also see gold moving to $1120 this year and they say the prospects
are excellent for a run at $1500 next year.
In the economic
news consumer sentiment fell to 69.4 versus 73.5 in September. Moreover, industrial production rose .7% of
a percent, which was substantially greater than had been anticipated. In addition, August industrial production
was revised to a gain of 1.2% from .8%.
Perhaps the economy is indeed beginning to recover. Looking at the overall picture if the economy
is beginning to recover then inflationary pressures from the monetary stimulus
should begin to show up in the economy sometime next year. That would be bullish for the gold
market. Moreover, the deficits continue
to explode and investors as well as central bankers are losing confidence in
the dollar, which may have a dramatic decline over the next 12 months.
Given all of these
factors and the quotes from Barclays, investors may wish to accumulate gold on
this consolidative move. Call Goldline
at 1-877-341-2646 for assistance with your gold and silver investing needs. Be sure to ask them for the free gold
investing information package so you can learn more about investing in precious
metals and to learn more about the economic events that are driving all of
these markets. In particular you will
learn a great deal about the dollar and the reasons why other countries are
demanding a new global reserve currency to replace the dollar. This is very important information that will
affect every single American. Call now
1-877-341-2646. If you would like to
have a free copy of the GFMS 2009 Gold Update please ask for it. That is a $450 book and you can have it for
free. Call now 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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