Gold is Showing A Little Life!
For the last twenty-four hours, gold high was $617.10 at 10:40 (NY) and gold low was $603.50 at 3:43, both prices this morning. It is $615.20 as this is written.
Gold has moved slightly higher today and the mining stocks are responding very well. Here are some examples: DROOY 1.38; HMY 13.77; IAG 9.00; NEM 50.37; NTO 4.33; PAAS 17.48; QEE 0.37; RNO 1.83; SSRI 18.10.
If you looked up the referenced web site posted yesterday, you saw that gold historically for a few years has been down in June-August, and then has rebounded in September and through the fall and early winter. Given that the report is accurate, as it seems to be, we are seeing typical behavior. However, the drops this time around are quite substantial. As often noted, the long term trend is still intact and that is the way that I look at my portfolio. Maybe we will see a greater rebound this time around.
I would suggest that the current flight from stocks to the U.S. Dollar is temporary. It seems to the uninformed as a safe harbor for funds, because it had been in the past. However, more central banks, the latest is the Russian, are slowly and cautiously diverting reserves into other currencies, mainly EUROs, and gold. This trend should continue and encourage lower purchasing power of the dollar in relation to other currencies and the precious metals.
Investing is always an exciting and challenging business. Keep yourself informed and make the best possible decisions.
By the way, I added shares of Crystallex International (KRY) @ $3.94, currently $3.93, and Viceroy Exploration (XVE) @ $7.05, currently $7.20, to my portfolio yesterday. These were recently recommended by Bob Bishop who constantly stays on top of natural resource investments.
Be sure to join with other Christians in corporate worship on the coming Lord's Day. It is not an option, but a duty we can joyfully fulfill. The fellowship is a foretaste of the eternal fellowship with believers of all times in Heaven.
Best to each, Doug
Gold has moved slightly higher today and the mining stocks are responding very well. Here are some examples: DROOY 1.38; HMY 13.77; IAG 9.00; NEM 50.37; NTO 4.33; PAAS 17.48; QEE 0.37; RNO 1.83; SSRI 18.10.
If you looked up the referenced web site posted yesterday, you saw that gold historically for a few years has been down in June-August, and then has rebounded in September and through the fall and early winter. Given that the report is accurate, as it seems to be, we are seeing typical behavior. However, the drops this time around are quite substantial. As often noted, the long term trend is still intact and that is the way that I look at my portfolio. Maybe we will see a greater rebound this time around.
I would suggest that the current flight from stocks to the U.S. Dollar is temporary. It seems to the uninformed as a safe harbor for funds, because it had been in the past. However, more central banks, the latest is the Russian, are slowly and cautiously diverting reserves into other currencies, mainly EUROs, and gold. This trend should continue and encourage lower purchasing power of the dollar in relation to other currencies and the precious metals.
Investing is always an exciting and challenging business. Keep yourself informed and make the best possible decisions.
By the way, I added shares of Crystallex International (KRY) @ $3.94, currently $3.93, and Viceroy Exploration (XVE) @ $7.05, currently $7.20, to my portfolio yesterday. These were recently recommended by Bob Bishop who constantly stays on top of natural resource investments.
Be sure to join with other Christians in corporate worship on the coming Lord's Day. It is not an option, but a duty we can joyfully fulfill. The fellowship is a foretaste of the eternal fellowship with believers of all times in Heaven.
Best to each, Doug
posted by Doug @ 9:47 AM
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