The dollar is
rallying again, up 20 basis points at 76.12 and naturally the metals and once
again the dollar is up and all other markets are down. However, gold and silver seem to be holding
yesterday's gains reasonably well.
After huge gains like we saw, a modest correction is nothing to be concerned
about. Moreover, gold is holding well
above $1,040, which is another constructive signal. The equity market is lower with the Dow down 62 points. Once again, after a 200-point up day, a
60-point down day is nothing to be concerned about. Oil is down $.50 at $79.33 a barrel.
Carl Johansson told
Dow Jones Wire Service: "Gold could continue to be well supported given the
euro/dollar pair has retraced little of Thursday's gains." Dow Jones Wire Service also quoted an
analyst who said: "That the U.S. economy is becoming addicted to the stimulus
bottle, is a clear and present danger."
Dow Jones Wire Service further stated: "Gold is used by investors for
different reasons, such as being an inflation hedge, dollar hedge, and fear and
instability hedge. Right now, traders
say it is the dollar that is influencing them most and that gold trades
inversely with the currency because it is seen as an alternative to paper
money."
Standard Bank's
analyst Walter DeWet said to the Dow Jones Wire Service: "While uncertainty
about the banks actions might incur selling, we would buy such dips." He forecast gold to hit $1,100 an ounce
before the year-end. These forecasts
are consistent with those of Barclay's Bank.
Barclay's thinks that gold will hit $1,100 by the end of November. Many analysts see $1,200 to $1,500 next
year. As a consequence of these
forecasts, gold appears to be an excellent buying opportunity and that would
similarly apply for silver. Barclay's
has been advising their clients to "buy the dip". Therefore, at these levels gold looks attractive.
If you would like
to learn more about investing in gold or acquiring gold or silver assets, call
Goldline at 1-877-341-2646. Be sure to
ask for the free information package, which contains excellent information and
articles from major banks, brokers and other strategists concerning the dollar,
precious metals and other important information. 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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