Gold was down about
$10 overnight reaching as low as $1,049.60 on the April contract before
rebounding. However, in the first twenty
minutes of trading it erased most of those losses, trading down $3 at
$1,059.80. Silver reached as low as
$15.02, but rallied back to $15.12 down $.24.
Again, it is the story of the dollar.
The dollar is up 36 basis points at 80.28. The dollar traded at its highest level since last July. Oil is down $.19 and the Dow Industrials are
down 31 points.
The labor report
this morning is somewhat confusing.
20,000 jobs were lost yet the unemployment rate came down. Also the underemployment rate, which had
been over 17.3%, has come down to the 16.5% range. The confusion results from the fact that companies and
governments cut 20,000 jobs, but 541,000 more jobs were created last month
helping to bring down the jobless rate.
This suggests that either more people have started their own business or
are working for companies that are too small to be captured by labor survey,
said the Dow Jones Wire Service.
Goldman Sachs
raised its twelve-month gold forecast this morning, which is another positive
factor given the correction that has been seen in the market. They raised their twelve-month forecast from
$1,365 an ounce to $1,380 an ounce.
They also raised their silver forecast to $23.30 an ounce. Their three-month forecast is now
$1,235. Goldman Sachs is a very
knowledgeable firm and its forecasts very often prove to be excellent. Given this forecast, investors may wish to
react by acquiring precious metal assets today at these bargain basement
levels. After the U.S. payroll figures
and Goldman raising its gold forecast for the year, gold recovered most of the
overnight losses. The correction, given
the Goldman forecast, should be celebrated as an opportunity to accumulate
precious metals at bargain basement prices.
In order to regain
further confidence to acquire metals at these levels investors may want to
speak with Goldline about their Price Guarantee Program, which provides a
period of time during which you can re-price your order in the event of a
correction. Many investors have taken
advantage of this opportunity and have had the benefit of this correction work
in their favor to provide a lower transaction price for their investments. Call Goldline at 1-877-341-2646 and ask them
to explain the Price Guarantee Program to you.
Goldline is the only company in the country that offers this program and
you do not have to pay extra for it.
However, the products that it is available with are limited so ask them
about the details, 1-877-341-2646. Also
ask Goldline for the free information package, which contains excellent
articles and forecasts, along with other information that you will find very
helpful. You will receive a free copy
of the American Advisor Newsletter and a free copy of an interview with Philip
Klapwijk of GFMS, one of the most prominent analysts in the business. Call Goldline now 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 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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