More on Dubai & Gold
First, Dubai (UAE) seems be the best friend we have in the area. Our Navy uses their ports, and our Air Force refuels plans there. They also supply some 8% of the oil in the region. Their history of port management is reported to be very good. Security, such as we have in our ports, will still be our responsibility we are told. So after all, hiring them to replace the current British port management firm looks to be OK. However, I regret that once again from the White House, we hear only "Trust me!" How far can any politician be trusted? A lot of negative reaction to this plan could have been avoided had the full story been told.
Gold ended last week up fairly nicely. For the last 24 hours the high was $558.60 at 7:06 last night and the low $552.70 this morning at 9:40. It is now $553.40.
Some prices: CEF $7.63; DROOY $1.43; HMY $14.86; NEM $55.80; SSRI $16.91. Most are hanging in pretty well while we wait for the "gold rush." When is any one's guess.
Iran is still planning the oil market in EUROs in about two weeks. Will it happen? I believe it is likely, but plans often fail to materialize. If it comes in, there will be a negative effect upon the dollar and a positive affect of the EURO. This would be a first, and if successful, would be followed by more.
The Yen is gaining some and would gain more if there is a follow through with higher interest rates there. The possibility has been mentioned in the news.
For me and my way of approaching the current markets, I see the general market at levels which it will not maintain for very long into the future. I believe precious metals are the safest investment for the time being, second to them, I like the CEF Central Fund of Canada which invests in gold and silver bullion, and for leverage, I prefer the mining stocks. Many of the mining stocks have options available and for those of you more adventurous, the options are a way to trade. Educate yourself and make your own decisions. As always >>> BUYER BEWARE!
The future is certainly in God's hand, but He gives us wisdom as we seek to know Him better and learn to fear Him and bask in His love. He does not want us to ignore either the past or the future, but to depend upon Him for success in every aspect of temporal and eternal life.
Best to each, Doug
Gold ended last week up fairly nicely. For the last 24 hours the high was $558.60 at 7:06 last night and the low $552.70 this morning at 9:40. It is now $553.40.
Some prices: CEF $7.63; DROOY $1.43; HMY $14.86; NEM $55.80; SSRI $16.91. Most are hanging in pretty well while we wait for the "gold rush." When is any one's guess.
Iran is still planning the oil market in EUROs in about two weeks. Will it happen? I believe it is likely, but plans often fail to materialize. If it comes in, there will be a negative effect upon the dollar and a positive affect of the EURO. This would be a first, and if successful, would be followed by more.
The Yen is gaining some and would gain more if there is a follow through with higher interest rates there. The possibility has been mentioned in the news.
For me and my way of approaching the current markets, I see the general market at levels which it will not maintain for very long into the future. I believe precious metals are the safest investment for the time being, second to them, I like the CEF Central Fund of Canada which invests in gold and silver bullion, and for leverage, I prefer the mining stocks. Many of the mining stocks have options available and for those of you more adventurous, the options are a way to trade. Educate yourself and make your own decisions. As always >>> BUYER BEWARE!
The future is certainly in God's hand, but He gives us wisdom as we seek to know Him better and learn to fear Him and bask in His love. He does not want us to ignore either the past or the future, but to depend upon Him for success in every aspect of temporal and eternal life.
Best to each, Doug
posted by Doug @ 9:16 AM
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