Daily Commentary

Barclay's - Gold To Hit $1,100 Next Month

by Joe Battaglia
Posted: October 26, 2009

The metals are higher in early trading, with gold posting a gain of $3 in reaction to a weaker dollar.  The dollar is trading down 4 basis points at 75.40 on the index.  Oil is higher and equities are substantially higher with the Dow up 92 points.  Dow Jones Wire Service reports that managed money funds are maintaining a sizeable net-long position in silver.  The same is true for gold.  Obviously, these professional managers believe that gold and silver are headed substantially higher or they would not maintain such a large position. 

Standard Bank told Dow Jones Wire Service that gold is likely to break above $1,070 an ounce.  The Wire Service said: "Spot gold is likely to break above resistance at $1,070 - $1,075/oz on the dollar's steady decline, says Standard Bank.  Dollar weakness, although it has been ignored over the past week, means that it is only a question of time before this resistance is breached."  Dow Jones Wire Service also reported: "Barclay's Capital said the metal is "getting comfortable" around $1,050 but should resume a rise to $1,100/oz in the next month."

Given forecasts from these respected analysts, it would appear to make sense to anticipate higher gold and silver prices.  The metals should be accumulated in anticipation of a nice move to the upside over the long-term.  While Goldline never recommends short-term trading in precious metals, these comments from major analysts provide an illustration of the potential that the metals have and perhaps are useful in identifying entry positions for long-term holdings. 

Investors should contact Goldline for assistance in acquiring precious metals and for the free information package at 1-877-341-2646.  You will find interesting information and articles including forecasts from some of the major banks and brokers, along with information on the dollar and the potential for the dollar to be replaced as the world's reserve currency.  All of this will be helpful information.  Call Goldline now 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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