Gold Still Bouncing, but in a Higher Range

For the last twenty-four hours, gold has traded at a low of $563.20 at 4:21 today and a high of $569.10 at 9:24 today (NY Time) compliments of Kitco.com. It is currently at $567.30 and seems to be climbing again. Silver is at $10.84 still moving upward as the new silver ETF goes on line before too long when (if) SEC gives it approval. That will place a very large demand upon the already short supply of silver -- Hold on to your pre-1965 U.S. silver coins!

DROOY is still trading around $1.40 as most of the mining stocks are off a bit from yesterday.

Beware of the reported protests by many people against closing our borders. The protests are in support of proposed generous amnesty and foreign worker programs. Personally, I wonder about the wisdom the protestors in view of the serious terrorist threat which is flaunted before us in support of Homeland Security and the War. It seems to me that it would be better to protect our borders and screen prospective immigrants. Also, many of the immigrants today no longer melt into our American society, but segment themselves within our borders. Thus, they are not contributing to the societal health, but staying outside of it. The long term consequence of this is for us to lose our society to the other cultures with which many Americans do not agree. This will have a long term economic effect upon our nation.

As always >> BUYER BEWARE!

Best, Doug