Let the "Correction" Begin!

Gold touched $597.90 and hit a low of $590.60 over the last 24-hour period. It is currently at the low as this is written. Silver is at $12.01.

If this is a correction, I see it as an opportunity to accumulate more mining shares or physical metal in hand. An alternative to metal in hand is the CEF or Metals Direct at everbank.com world markets.

A correction is necessary to build up steam to crash through the $600 overhead resistance. The recent attacks upon $600 gold were rapid run ups. Perhaps, a bit too rapid, but that is how the metals markets go at times. The demand is building. It seems to be from jewelers, foreign banks (Asian and Mid-East), and, finally, a few investors.

Uncertainty in the currency markets, the open-ended war on terrorism, our deficits in exports and spending, the trillions of dollars of debt, the increased price of oil, and the lack of savings tend to point wise individuals toward the safety of precious metals >> Real Money! More will wise up as the price of gold in dollars rises.

I will be purchasing mining stocks on any reasonable correction. I believe it is wise to be ready to take advantage of such.

Study, make your plans, commit them to the Sovereign God and move out in accordance with your plan.

Best to each, Doug