Daily Commentary

Gold Continues to Rise

by Joe Battaglia
Posted: October 20, 2009

Gold is up $4 trading at $1,062.10, while silver is up a dime.  The dollar is down 26 basis points at 75.25 and oil is down $.39 at $79.22.  Earlier in the day oil hit $80.05 a barrel.  The Dow is down 31 points.  Precious metals are performing exceptionally well.  Gold hit $1,069 this morning and silver hit $17.96, both on the December future's contract.  While they did pull back on some early profit taking, nevertheless, they held onto a substantial gain.

Analysts said gold is supported by the softer dollar.  Frank Lesh said with the dollar index back on the defensive gold could continue to move higher.  Dow Jones Wire Service said: "Expectations of further dollar weakness and the lack of any large scrap gold sales, however, had traders looking for gold to hold near current levels and possibly push towards last weeks record high of $1,070.50 a troy ounce." 

With regard to the dollar, Afshin Nabavi head of trading at Swiss Bullion House MKS Finance said: "The dollar looks incredibly weak, pretty much on its knees."  The Dow Jones Wire Service also reported: "Dollar weakness and strength in equity markets are giving a lift to gold, raising the potential for gold to rally to a fresh record high, says the Bullion Desk's James Moore."  Moore said: "(Gold) could look to set fresh highs above $1,071 after a brief period of consolidation."

Given these comments and forecasts that gold may hit as high as $1,250 to $1,300 this year, along with forecasts from Barclay's and others that gold could see $1,500 next year, gold appears to be a great buying opportunity.  Moreover, if investors own gold but it is not enough to properly diversify their portfolios, this may be a good time to increase those allocations. 

Call Goldline today at 1-877-341-2646 for assistance in adding to or acquiring precious metals.  In addition ask for the free information package, which contains excellent articles discussing the weakness of the dollar, the potential for devaluation, and many other points of great interest to all investors.  You may also ask for a free copy of the GFMS 2009 Gold Survey Update.  This book sells for $450, however you can receive it absolutely free just by asking for it.  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, Swiss 20 Francs, 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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