Gold set another
new all time record high overnight at $1,137.
It is making this huge move to the upside in spite of the fact that the
dollar is only down 20 basis points at 75.01.
Oil is also benefiting, up $.94 at $77.29 a barrel. Equities are likewise higher, with the Dow
up 115 points. Silver jumped $.90 and
platinum and palladium also soared.
The Dow Jones Wire Service
said: "A cocktail of powerful underlying fundamentals is attracting fresh
investor interest in gold with the market setting a fresh high in early
European trade Monday, lifting the other precious metals with it." Confirming that trend silver is trading up
$.90. Gold has been in a solid up trend
since the announcement that the central bank of India purchased 200 metric tons
from the IMF. Since then dollar
weakness and high liquidity have helped push the metals to new highs almost
daily. Dow Jones Wire Service said:
"Going forward, comments from governments that they will continue with their
stimulus packages should support the precious metal and keep liquidity flowing,
analysts say."
The market is also
seeing buy stops hit as the shorts are forced to cover at these levels. Precious metals analyst Carl Johansson said
that the rise could be extended due to the bullish tone set early in Monday's
trading day. He further stated that buy
stops triggered at the open of Comex's electronic platform caused the
rally. Francis Bray, the Chief
Technical Analyst for Dow Jones Wire Service said: "Further gains are expected
to test $1,150, and an equality move off the April 2009 bull pennant low at
$865 highlights the $1,188.40 area."
There are a growing
number of analysts (including Goldman Sachs) who see gold reaching $1,200 by
the end of the year and analysts are talking about the potential to reach
$1,500 next year. Those who would like
to take advantage of this rising trend for gold should call Goldline at
1-877-341-2646 for assistance in getting started. Bear in mind that gold is being pursued as the best form of
money, which it has always been. This
is creating fresh demand for gold. The
more the dollar and other currencies decline in their process of competitive
devaluation, the better the outlook for gold.
In addition, analysts are looking toward the potential for higher
inflation rates next year. This too is
supportive of the gold market. I
recommend that investors ask Goldline for the free information package, so they
can begin to understand some of the factors that are driving gold to record
levels. BlackRock's Evy Hambro told Dow
Jones Wire Service that central banks are likely to be net gold buyers in
2009. He said that is part of the reason
that gold is making such a substantial move to the upside. To receive the free information package,
which gives you information on the U.S. dollar, gold, silver and other factors
of importance, 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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