Gold breaks $600 & stays for the time being!
I trust that you had a really great time of praising the Lord on our "official" Resurrection Day. He truly is the reason for this season! Without Him, all of us are lost in trespasses and sin. But through Him, alone, we are reconciled with His Father and made to appear as righteous. Praise the Lord for this!
At about 8 pm last night gold broke out of its low of $599.50 and sailed above $600 to a high of $608 at 9:23 am today. It is currently at $606.60 and looking strong. Silver left $12.91 yesterday and has been above $13 ever since. It is now at $13.15. Oil has broken $70, too.
Thus, it would seem that the dollar is taking yet more of a beating. Dollar denominated financial assets are being questioned more and more. The Net Foreign Investment (currency inflows to support our debt) are looking ever more shaky. The figure should be out today. Also, the CPI, of very questionable value, is due,as well. It will likely continue to hide the inflation we feel as we shop.
If you are not on board with the precious metals, when will it seem right for you? When the "gold rush" of the general masses of people starts will be too late. It is one of these situations when it is better to be a week, month, or year early than to be a day or two late. Think about it!
Often, people ask why the mining stocks are not responding to the upward move in the price of precious metals. A good question. However, it is easy to see that the stocks are responding, but not as rapidly as gold has moved. Here is a recap of some of those in which I have investment and/or interest: BGO 4.79; CBJ 3.93; CDY 2.84; DROOY 1.52; EGO 5.03; GSS 3.20; HMY 15.77; IAG 9.06; MFN 8.05; MNG 3.83; NEM 54.24; NTO 4.97; PAAS 25.79; QEE 0.40; RNO 2.10; SSRI 21.40. The big response will come when the late comers to the party join in as the reality of the unbacked paper currencies is recognized by the masses and they move to protect value in anything that looks, smells, or sounds like precious metals. Then it is too late!
What will be the end of the US - Iran "disagreement"? How will it affect the price of oil? How will it affect the price of precious metals? This is the immediate situation we are facing.
Best to each, Doug
At about 8 pm last night gold broke out of its low of $599.50 and sailed above $600 to a high of $608 at 9:23 am today. It is currently at $606.60 and looking strong. Silver left $12.91 yesterday and has been above $13 ever since. It is now at $13.15. Oil has broken $70, too.
Thus, it would seem that the dollar is taking yet more of a beating. Dollar denominated financial assets are being questioned more and more. The Net Foreign Investment (currency inflows to support our debt) are looking ever more shaky. The figure should be out today. Also, the CPI, of very questionable value, is due,as well. It will likely continue to hide the inflation we feel as we shop.
If you are not on board with the precious metals, when will it seem right for you? When the "gold rush" of the general masses of people starts will be too late. It is one of these situations when it is better to be a week, month, or year early than to be a day or two late. Think about it!
Often, people ask why the mining stocks are not responding to the upward move in the price of precious metals. A good question. However, it is easy to see that the stocks are responding, but not as rapidly as gold has moved. Here is a recap of some of those in which I have investment and/or interest: BGO 4.79; CBJ 3.93; CDY 2.84; DROOY 1.52; EGO 5.03; GSS 3.20; HMY 15.77; IAG 9.06; MFN 8.05; MNG 3.83; NEM 54.24; NTO 4.97; PAAS 25.79; QEE 0.40; RNO 2.10; SSRI 21.40. The big response will come when the late comers to the party join in as the reality of the unbacked paper currencies is recognized by the masses and they move to protect value in anything that looks, smells, or sounds like precious metals. Then it is too late!
What will be the end of the US - Iran "disagreement"? How will it affect the price of oil? How will it affect the price of precious metals? This is the immediate situation we are facing.
Best to each, Doug
posted by Doug @ 8:46 AM
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