The metals are
mixed this morning with gold trading up $2.50 at $1,104, while silver is
unchanged and platinum and palladium are both a little lower. The dollar is up 15 basis points at 75.17
and oil is up $.77 at $80.21 a barrel.
The equities are also up, but only slightly with the Dow up 14 points. Dow Jones Wire Service said the metals are
in consolidation mode. That is actually
a good thing. It would be excellent to
see gold consolidating its gains above $1,100 an ounce. The longer gold holds above $1,100, the
greater the chance of moving to $1,200 by year-end as some of the analysts have
been forecasting. Gold is certainly
helped by higher crude oil prices. It
is overcoming the negative influence of the stronger dollar. If gold closes today above $1,100 an ounce,
it will be technically a positive development because of options expirations
today, which will be in the money.
Dow Jones Wire
Service said: "Cash gold is undergoing minor consolidation off Monday's
$1,110.15 high, having met its minimum up side price objective at
$1,105.70. However, given the strong
underlying bull trend that is behind these recent strong gains, corrective dips
are considered to be limited ...' above $1,110.15 would prompt fresh all time
highs towards the $1,150 area, ahead of the more longer-term projected targets
at $1,280 and $1,320 ...'" That technical observation is very constructive and
suggests that investors may wish to continue accumulating gold at these
levels. Bank of America/Merrill Lynch
is forecasting that gold will break out above $1,500 an ounce in the next 18
months. Deutche Bank said their target
is now $1,200 by year-end, and Tom Kendall of Mitsubishi Bank also sees $1,200
by year-end. These are very prominent
analysts and their opinions carry great weight.
Dow Jones Wire
Service reported: "Goldman sees gold at $1,200 by year-end if TIPS
unchanged. Another analyst, Mark
Bristow of Randgold Resources said: "Gold prices are likely to hit $1,200 a
troy ounce by the year-end." With Dow
Jones News Wire reporting so many analysts raising their forecasts for gold, it
appears to be a time when investors should at least become better informed
about gold. Ask Goldline for the free
investing information to assist you in making an informed decision about
whether to invest in gold and silver assets.
Call Goldline today
at 1-877-341-2646 to acquire gold and silver or to add further positions to
your holdings. You may also wish to ask
for the free information package, which contains excellent articles and
information about the precious metals markets and forecasts from major
institutions on their expectations for the price over the next 12 to 18
months. 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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