Gold reached a new
all time record high overnight at $1,123.40 an ounce. It subsequently pulled back as the Wall Street Journal reported
that several central banks purchased dollars in an effort to provide some
support to the greenback. They
purchased collectively about $150 billion.
That provided some excuse for the dollar to rally, up 21 basis points,
pulling gold back from its highs to a $1 dip.
That is a negligible decline and it indicates extraordinary strength in
the gold market.
Investors should
take advantage of dips as buying opportunities, according to many of the
forecasters. In fact, the Dow Jones
Wire Service technical analyst for Europe said $1,150 is his next target. Another analyst said everyone's sights are
on the $1,200 level, sooner rather than later.
We have a number of forecasts from major banks and brokers such as
Goldman Sachs, Deutche Bank and others forecasting $1,200 by year-end. The Wall Street Journal headline reads "Gold
Bulls Set New Target For Rally: $1,300 An Ounce".
Given these
forecasts, investors should be accumulating gold positions without delay. While the market is near unchanged this
morning, it may quickly turn into positive territory before the end of the
day. Therefore, do not delay making
your transactions. Clearly, the dollar
is in a weakening trend and while Treasury Secretary Geithner keeps saying that
the government supports a strong dollar, there is nothing to evidence
that. Analysts on CNBC and elsewhere
are all talking about the fact that no one believes Geithner or other
government officials with regard to their so-called strong dollar policy.
There continues to be
some signs of improvement in the economy with unemployment declining a little,
however the overall picture continues to be one in which stimulus is
needed. The President spoke this
morning saying the economy is improving, but not out of the woods. All of this suggests exactly what the Fed
officials have been saying, that there will be a continuing easy money and easy
fiscal policy that will continue to depreciate the dollar and cause gold to
rise further. In addition, gold miners
have told the Dow Jones Wire Service that they do not attend to resume any
hedging activity. Barrick said it will
re-purchase 1.9 million ounces of gold by September 2010. That is a large amount of gold and it is
bullish for the market.
Therefore,
investors should be taking advantage of today's opportunity to get into the
market as quickly as possible. Call
Goldline at 1-877-341-2646 for assistance in acquiring precious metal
assets. They will also provide you with
a free information package and an investor kit that will be helpful to you in
evaluating your decision to acquire precious metal assets at this time. Call Goldline at 1-877-341-2646 for your
free information package.
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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