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Gold's Winning Streak

Release Date: 
Friday, August 13, 2010

According to Bloomberg, gold futures have climbed 10 percent this year and are set for a 10th straight annual advance. This marks the longest winning streak since at least 1920, as investors shield their wealth against economic turmoil and the prospect of currency debasement. The metal reached a record $1,266.50 an ounce on June 21.

"We're seeing safe-haven demand come into gold," said Jim Steel, an analyst at HSBC Securities in New York.

Bloomberg also reports that Goldman-Sachs analysts believe that gold prices may rally to $1,300 in six months, driven by low interest rates and the Federal Reserve's purchase of financial assets such as government bonds and mortgage-backed securities.

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*Goldline recommends that precious metals and rare coins be held for a minimum of 3-5 years.

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†This material has been prepared for private use. Although the information in this commentary has been obtained from sources believed to be reliable, Goldline does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

You should review Goldine's Account Agreement along with our risk disclosure booklet, Coin Facts for Investors and Collectors to Consider ®, prior to making your purchase. Goldline has a spread or price difference between our selling price, called the "ask", and our buy-back price, called the "bid". That spread varies depending on coin or bar you acquire. Spreads on 1 oz bullion coins, 90% silver dimes and quarters, and one ounce and larger bullion bars are 13%. All other coins have a spread of 28%. There is also a 1% liquidation fee when you sell your coins back to Goldline. The market must go up enough to overcome this spread before an actual profit is achieved. Precious metals and rare coins can increase or decrease in value. 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 investment portfolio though others may recommend a different percentage.

To receive free information package on gold and precious metals investing, call Goldline at 1-800-963-9798.