Gold and Oil Again Moving Upward!
Oil futures hit an all time high of $75+ yesterday. Gold over the last 24 hours hit a high of $654.60 yesterday morning at 11:52 and a low of $641.70 early afternoon at 12:39. Even silver hit 24 hour high and lows at almost exactly the same times $11.73 and $11.31.
Therefore, the commodities, particularly the precious metals and energy, are back on the upward track. Be assured that we will see flutuations, but the longer term trend it upward and onward.
The mining stocks responded nicely with DROOY above 1.51 and QEE back above 0.37. The real run has yet to get started, but the interest in mining stocks has again increased.
The trade deficit came in just over 63 Billion which is slightly below forecasts. The media jumped on the good news, but ignored the fact that the annual deficit will be higher this year than last and that the deficit continues to grow at an unsustainable rate. The question that should be asked is, "How long will our foreign 'friends' continue to support our import binge?" They will at some time drop us. We must pray that it is a slow dropping of support (through lending) over time.
Were the end to be sudden, there would be panic in the financial markets here as interest rates skyrocketed with all the drastic results therefrom. Pray that it is slow. It will come and that is certain! Do not believe otherwise.
Best to each, Doug
Therefore, the commodities, particularly the precious metals and energy, are back on the upward track. Be assured that we will see flutuations, but the longer term trend it upward and onward.
The mining stocks responded nicely with DROOY above 1.51 and QEE back above 0.37. The real run has yet to get started, but the interest in mining stocks has again increased.
The trade deficit came in just over 63 Billion which is slightly below forecasts. The media jumped on the good news, but ignored the fact that the annual deficit will be higher this year than last and that the deficit continues to grow at an unsustainable rate. The question that should be asked is, "How long will our foreign 'friends' continue to support our import binge?" They will at some time drop us. We must pray that it is a slow dropping of support (through lending) over time.
Were the end to be sudden, there would be panic in the financial markets here as interest rates skyrocketed with all the drastic results therefrom. Pray that it is slow. It will come and that is certain! Do not believe otherwise.
Best to each, Doug
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