Gold and Silver See Normal Correction
by Joe Battaglia
Posted: July 7, 2008
Gold and silver
pulled back sharply this morning, with gold down about $14 and silver down
$.40. The metals pulled back largely in
reaction to news from Iran that they are making substantial progress with
regard to the dispute over their nuclear development programs. This led many traders to expect there will
not be an attack on Iranian nuclear facilities. However, there have been many such statements in the past, none
of which bore fruit. Nevertheless, that
caused oil to fall back $4, putting pressure on the metals and helping to
strengthen the dollar. The combination
of the two weighed on the precious metals sector.
A number of
analysts, including Jeffrey Rubin of CIBC are of the opinion that oil prices
will continue to move higher. He
forecasts $200 oil by year-end.
However, periods of advance and correction are perfectly normal and to
be expected in all markets. The same is
true of gold.
Investors should
take advantage of the opportunity to acquire gold and silver assets at these
bargain basement prices. Both of these
metals have along way to go on the upside.
We have prominent analysts forecasting that the metals will be
dramatically higher before the end of the year. For example, just last week Merrill Lynch observed that they see
gold moving to $1,000 before the end of September. Citibank has expressed the exact same view that gold will reach
as high as $1,000 this year and could have the potential to more than double or
triple over the next three years. Given
forecasts of this magnitude, it would be wise to be accumulating precious metal
assets. If you do not have precious
metal assets, you should get started today and if you wish to add to your
holdings, you should consider do so at once while the market is at favorable
prices.
Goldline continues
to provide an excellent free information package including quotes from
Citigroup, Merrill Lynch and others. In
the free information package you will see articles that are warning about the
potential for a stock market crash in the next three months from the Royal Bank
of Scotland, along with similar comments from Barclay's Bank, the Bank for
International Settlements and Fortis Bank.
These warnings should be taken seriously. To receive this free information call Goldline at 1-800-827-4653.
Investors should
contact Goldline and ask them 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 Swiss
20 Francs, Double Eagles and Silver Dollars.
When you acquire 29 Swiss 20 Francs, you will receive the 30th
coin for free. Investors may wish to
consider several tubes of these coins to obtain several free Swiss 20 Franc
gold coins. Call Goldline at
1-800-827-4653 for further information.
To receive the free information
package including the four articles on the dollar, the economy and gold call
Goldline at 1-800-827-4653. Goldline
also provides several other helpful articles.
There are a number of other independent third party source articles that
you will find extremely helpful and informative. You will also receive the company brochure and a Coin Facts Risk
Disclosure Booklet, which you should read carefully before you make an investment.
Goldline will also send you a free
CD of the special interview with analyst Frank Barbera if you ask for it. This is a remarkable interview and I think
everyone would benefit from listening to it.
Call Goldline now to receive your free information package at
1-800-827-4653.
You should carefully read the client Account Agreement and the Risk Disclosure information.
These explain important things you need to know before you invest in precious metals, such as:
past performance does not guarantee future results. Transaction costs are generally 5% to 10% on
bullion and 30% to 35% on coins. This is also referred to as the spread, or the difference
between the buy price and the sell price. The market must go up enough to overcome this spread
before an actual profit is achieved. All markets go up and down. Coins are a long-term, three- to
five-year, preferably five- to ten-year investment, suitable for 5% to 10% of the average
portfolio. Please see Goldline's Risk and Disclosure Statement for further details.
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