Daily Commentary

Bargain Buying Emerges

by Joe Battaglia
Posted: October 27, 2009

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, 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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