‘GOLD MAY HIT $1,500/OZ’ AS INVESTORS SEEK PROTECTION

by Goldline.com | July 12, 2010

Gold prices are easing Monday morning on the New York Spot Market as investors took light profits and the euro fell against the U.S. dollar. For now, analysts and traders said they regard $1,200 an ounce as the point around which gold continues to fluctuate until clearer directional signals emerge, according to Reuters. (Reuters, 7/12/10)

Stocks are down across all three major indexes on the New York Stock Exchange as of 11:46 a.m. EST, ahead of the quarterly reporting period and following the biggest week for stock gains in a year. All three major indexes added over 5% last week as investors dug back in after a two-month selloff and on anticipation about the quarterly reporting period. (CNN Money, 7/12/10)

Gold may touch $1,500/oz within 18 months as investors seek protection against further quantitative easing and rising inflation, according to US-based investment fund Yorkville Advisors. Managing Director Brian Kinane told Reuters he advises investors to buy and hold gold despite recent consolidation in the metal’s price. “The upside outweighs the downside,” Kinane told Reuters. “It provides a potential inflation hedge and inflation is coming in due course.” “It gives you protection for flight to safety because it’s the global currency that is not subject to quantitative easing,” he added. “I believe gold can move to $1,500 within 18 months. Gold is well priced right now but there are people who have a view that it could go to over $2,000 an ounce,” he said. “I would be of the view that gold has more room to run.” (The Daily Times, 7/11/10)

† 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 Goldline's Account and Storage Agreement along with our risk disclosure booklet, Coin Facts for Investors and Collectors to Consider ®, prior to making your purchase. 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 European francs, proof coins, silver dollars and half-dollars, and graded coins. 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 1-877-341-2646.
Get Your FREE Investor Kit!
Learn how to acquire Gold and Silver
Complete the form below to receive your FREE kit:
Title:
First Name:
Last Name:
Phone:
Zip:
Please check this box to sign this form and confirm that Goldline may send its free investor kit to you and contact you using the phone number above.
Address:
 
City:
Country:
State:
Zip:
Please check this box to sign this form and confirm that Goldline may contact you using the email address above and send its free investor kit to you for free.
Your Investor Kit will include
  • An Introduction to Precious Metals
  • Advantages of Owning Gold and Silver
  • Popular Coins and Gold Products
  • How to Acquire Precious Metals and Rare Coins