Gold Continues to Glitter!
Gold romped upward again while I was away for a few days. There was rain in middle Texas, too, as usual when I'm traveling. One of these days, I will be around for the rain of which we have had far too little for a long time.
Gold hit $686 in overnight trading about 7:45 pm (NY) yesterday. It spiked down to 671.60 at 10:12 this morning and is now at $676.60. I believe more people are starting to see the substantial loss in purchasing power of the dollar.
Silver is at $13.71, which is not too shabby, but well below the recent highs which exceeded $14.00. Silver will continue to shadow gold, but is a little depressed at present.
The following are some of the prices of mining stocks I generally own and follow: BGO 5.63; CBJ 3.61; CDY 3.41; DROOY 1.50; EGO 5.24; GSS 3.41; HMY 15.69; IAG 9.58; MFN 8.76; MNG 3.80; MRB 3.20; MRDDF 1.75; HEM 55.29; NTO 6.10; PAAS 21.60; QEE 0.43; RNO 2.18; SSRI 21.73. The lower priced among the group are more speculative, but may in the long run offer the greater profit during the "Gold Rush."
The better way to protect wealth is to own the precious metals as bullion coins, but the Gold Rush, when and if it comes will give you a much bigger bang on the mining stocks. There are very few of them in comparison to the broader market shares and capitalization. Thus, when there are many more buyers chasing them, the prices explode upward.
As always, BUYER BEWARE! What seems correct for me, may not be correct for you. Study and learn before you leap or invest.
Keep your eyes and focus upon King Jesus and always submit your life and actions to Him >> Completely.
Best to each, Doug
Gold hit $686 in overnight trading about 7:45 pm (NY) yesterday. It spiked down to 671.60 at 10:12 this morning and is now at $676.60. I believe more people are starting to see the substantial loss in purchasing power of the dollar.
Silver is at $13.71, which is not too shabby, but well below the recent highs which exceeded $14.00. Silver will continue to shadow gold, but is a little depressed at present.
The following are some of the prices of mining stocks I generally own and follow: BGO 5.63; CBJ 3.61; CDY 3.41; DROOY 1.50; EGO 5.24; GSS 3.41; HMY 15.69; IAG 9.58; MFN 8.76; MNG 3.80; MRB 3.20; MRDDF 1.75; HEM 55.29; NTO 6.10; PAAS 21.60; QEE 0.43; RNO 2.18; SSRI 21.73. The lower priced among the group are more speculative, but may in the long run offer the greater profit during the "Gold Rush."
The better way to protect wealth is to own the precious metals as bullion coins, but the Gold Rush, when and if it comes will give you a much bigger bang on the mining stocks. There are very few of them in comparison to the broader market shares and capitalization. Thus, when there are many more buyers chasing them, the prices explode upward.
As always, BUYER BEWARE! What seems correct for me, may not be correct for you. Study and learn before you leap or invest.
Keep your eyes and focus upon King Jesus and always submit your life and actions to Him >> Completely.
Best to each, Doug
posted by Doug @ 11:18 AM
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