Gold and silver are
lower again today, as yesterday's dip prompted some profit taking today. Gold is down $3.80 just after the open,
while the dollar is down 2 basis points and oil is down $.17. Silver has given back $.15 in early
trading. The equity market is
rebounding with the Dow up 58 points.
Earlier in the day, gold fell to $1,036.60, but then rebounded on
bargain buying said Andrew Montano, Director of Precious Metals at Scotia
Mocatta. Standard Bank said gold could
resume its downward correction before rebounding. Nevertheless, they said yesterday that gold is likely to break
above the $1,070 to $1,075 level over the relatively near-term. The profit taking and correction in gold is
prompted almost entirely by the action in the currency markets. The euro fell as low as 1.4853 earlier in
overnight markets, and that is the key factor that prompted profit taking in
the gold market.
The Consumer
Confidence report showed the index down to 47.7 versus 53.4 in September. This indicates that consumers turned
decidedly more pessimistic in October.
The Case Schiller Home Price index showed home prices at fall of 2003
levels. This is a gradual improvement
from earlier in the year when they dropped to 2002 prices. Home prices are now down 30.2% in the
ten-city index and down 29.3% in the 20-city index, however these are a slight
improvement over the previous months figures.
This consolidation
presents a bargain buying opportunity for today's investors. Call Goldline at 1-877-341-2646 to get
started today. Those who are interested
in acquiring metals should consider using Goldline's Price Guarantee Program,
which provides a two-week window of opportunity to re-price your transaction in
the event that the market should correct after you make your purchase. Ask Goldline for the details of this special
program at 1-877-341-2646.
Bear in mind that
corrections are normal in all markets, and that in a strongly rising bull
market such as we have for gold and silver, the corrections have continued to
be buying opportunities throughout the past nine years. None of these corrections have caused the
major banks and brokerage firms to alter their overall expectation that gold is
a bargain buying opportunity. Just
yesterday, Credit Suisse said they are continuing to be overweight gold in
their portfolios because they see gold in a rising market. To learn more about analysts' views of the
precious metals markets and their price projections, along with discussions
about the U.S. dollar and the movement to replace the dollar as the world's
currency, call Goldline at 1-877-341-2646.
You should also ask for a free copy of the GFMS Gold 2009 Update. This book sells for $450, but you can have
it free, if you ask for it. It will
give you all of the facts, figures and documentation that you need to properly
evaluate whether to acquire precious metals on this bargain buying
opportunity. 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,
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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