Gold Flirting Above $550

For the last twenty-four hours, Gold hit a low of $552.90 yesterday at 11:41 a.m. NY time and a high today of $567.60. As this is written, it is at $562.50. Will it go below $550 again? Possibly; however, it is bouncing within a higher range than before. The run up has been fairly rapid, so we may experience another correction in the future.

DROOY is trading between $1.91 and $1.94. That is a nice range fore those who climbed on board. RNO, which I added recently at about $1.63 is trading around $1.70.

There is much news on the Iran situation. Iran has announced a transfer of their banking reserves out of European banks. There is also on the table the possibility of opening a market for oil in EUROs in March. Also, there is the rattling sabers about their persistence in producing nuclear weapons and the threat of taking them out from the West. Bad stuff. This is the kind of rhetoric which could explore into wider war in the Mid-East. Pray that a peaceful solution will be reached.

The dollar is down again today against most currencies. "Sound as a Dollar" is taking on an ominous meaning these days.

Keep looking to Jesus and rest in the fact that He is in control. Do not neglect corporate worship on the Lord's Day.

Best to each, Doug