Happy Monday Morning!
We had a wonderful time of worship and fellowship yesterday. What a blessing it is to be among the people of God. It is now a bright and beautiful Monday in San Antonio. What a winter this has been! In fact, it has been more like spring and fall, than winter. We did finally get some rain on Friday. Now to business.
For most of Thursday, Friday, Sunday night, and today, Gold has been at or above $560. The 24-hour high of $564.60 was reached at 10.15 a.m. NY time today and the low of $557.60 at 7:07 p.m. last night. This has been the pattern for about a week. It is currently $563.80.
For some strange reason, the dollar was higher during week end trading and this morning against almost all other currencies. This is despite of the fact that the economy showed some slowing in the last quarter of 2005 and the pressure downward on real estate from the higher interest rates for mortgages. I believe this to be temporary, and the dollar will resume it's decline.
Anticipation of the new silver ETF has spawned more interest in silver. Many are concerned that the high demand for silver in industry coupled with this new demand will make silver out perform gold on the upside. Silver is currently at $9.73. Perhaps, it is wise to begin to follow silver more closely. Of course, I own Silver Standard (SSRI) and follow Pan American Silver (PAAS), both of which are up considerably over the last several months. I also, hold PCU which is a copper play.
Many are holding off their purchases of precious metals and mining stocks for the correction. There could be a correction. However, it is important for each of you to look over your portfolio of investments to see which are at risk as the dollar falls in value. It is likely wise for each of us to reorder our investments to reduce those dependent upon a strong dollar. I have moved quite heavily into precious metal and oil stocks, and away from the general market stocks for preservation of capital. The metals, I see as the more conservative, while the stocks will provide more leverage for speculation.
The precious metals and oil will also jump in price with any escalation of the war of terrorism or in event of another terrorist attack. We pray that neither will occur. However, is it not rational to prepare our investments to weather such storms?
It does appear that we are on the way to new highs in gold. As always, BUYER BEWARE. Arm yourself with data and information, but above all gain wisdom. Godly wisdom obtained through a diligent study of God's Word is true wisdom. Arm yourself with it and apply it in every area of your life. This yield true success!
Best to each, Doug
For most of Thursday, Friday, Sunday night, and today, Gold has been at or above $560. The 24-hour high of $564.60 was reached at 10.15 a.m. NY time today and the low of $557.60 at 7:07 p.m. last night. This has been the pattern for about a week. It is currently $563.80.
For some strange reason, the dollar was higher during week end trading and this morning against almost all other currencies. This is despite of the fact that the economy showed some slowing in the last quarter of 2005 and the pressure downward on real estate from the higher interest rates for mortgages. I believe this to be temporary, and the dollar will resume it's decline.
Anticipation of the new silver ETF has spawned more interest in silver. Many are concerned that the high demand for silver in industry coupled with this new demand will make silver out perform gold on the upside. Silver is currently at $9.73. Perhaps, it is wise to begin to follow silver more closely. Of course, I own Silver Standard (SSRI) and follow Pan American Silver (PAAS), both of which are up considerably over the last several months. I also, hold PCU which is a copper play.
Many are holding off their purchases of precious metals and mining stocks for the correction. There could be a correction. However, it is important for each of you to look over your portfolio of investments to see which are at risk as the dollar falls in value. It is likely wise for each of us to reorder our investments to reduce those dependent upon a strong dollar. I have moved quite heavily into precious metal and oil stocks, and away from the general market stocks for preservation of capital. The metals, I see as the more conservative, while the stocks will provide more leverage for speculation.
The precious metals and oil will also jump in price with any escalation of the war of terrorism or in event of another terrorist attack. We pray that neither will occur. However, is it not rational to prepare our investments to weather such storms?
It does appear that we are on the way to new highs in gold. As always, BUYER BEWARE. Arm yourself with data and information, but above all gain wisdom. Godly wisdom obtained through a diligent study of God's Word is true wisdom. Arm yourself with it and apply it in every area of your life. This yield true success!
Best to each, Doug
posted by Doug @ 8:43 AM
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