I’m beginning to wonder if there’s anyone out there that isn’t BULLISH on the Precious metals and that makes me very uncomfortable.  Bill Fleckenstein, President of Fleckenstein Capital and a man for whom I have a great amount of respect, wrote an article about Gold Monday for his Contrarian Chronicles column on MSNMoney.com.  I recommend that you paste the following link into your web browser and read his latest commentary- Why this downturn is different.  Not only will you be able to read his article but there are a couple of links to some interesting stories about Gold.

My belief that Gold and Silver will preserve your wealth is based on a couple of very important economic events that are taking place today.  I believe that rising unemployment and the continuing decline in housing prices are situations that will eventually lead to lower stock prices and an increase in the anxiety level of the average investor which will lift Gold and Silver to new highs.  Mr. Fleckenstein also believes that stock prices will eventually move lower.  We are both very bullish on Gold.  I’m just a little cautious here because there doesn’t seem to be a dissenting voice when it comes to Precious metals.  Bill and I are contrarians and I’m sure he’s having the same thoughts as I am regarding the lack of skepticism regarding the latest rally in the Gold and Silver.  The one thing that I do like about the latest move in Gold and Silver is that it’s been very steady with little volatility along the way.  When Copper made new all-time highs a couple of years ago it moved in precisely the same pattern.  I believe this will be the case for Gold.  A gradual ascent to new all-time highs.  Once those new highs are achieved there’s a very good chance volatility will increase dramatically because a lot of momentum players will be waiting to jump on the bandwagon and that will mean a breakout that could be like fireworks on the 4th of July!  The fact remains that we still have resistance at the March highs that is evident on the chart below.  With a $100 an ounce rally you sometimes look for a bit of a retracement to take some pressure off the market.  This may be a case where waiting for that retracement before taking a position could be very costly.

Now, the question I have for you is “What have you done to secure your wealth?”  All of us here at Bullion.com are very proud of the fact that we can now offer you a direct toll-free number for all of your Precious metals investment needs.  Have you taken the time to call and talk to one of the professionals that deal in these markets on a daily basis?  If not, then I only have one other question.  What are you waiting for?  It’s never a good idea to chase markets and I believe that’s what will be taking place very soon.  Markets are funny things.  They try to lure you into thinking that if you just wait a little longer you’ll get a better price on your purchase.  Unfortunately, most people just keep waiting for that “better price” and they miss the move altogether.  My advice is, don’t wait!  BUY now!  We may never have this opportunity again.  Here’s a recent communique from our Precious metals dealer regarding current prices on Gold and Silver -

SELLING GOLD BULLION COINS (common dates)

QTY

500                                       1  Troy OZ US GOLD EAGLES          SPOT + 4.00%

500                                       1 Troy OZ GOLD MAPLES                 SPOT + 3.75%

SELLING SILVER BULLION COINS (common dates)

5000                                   1 Troy OZ SILVER EAGLES              SPOT + $1.95

$25.00 Delivery Fee on less than 20 coins.

100 Coins or more – Call for bargain pricing!  (Prices are subject to change.)

There you have it.  For today’s Gold and Silver prices call 1-800-605-1792.  And remember, any questions that you may have on the markets should be directed to me at 888-453-4614 or to daledoelling@bullion.com.

Good trading,

Dale F. Doelling, Chief Market Analyst

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