Travel = Gold Up + Rain
Wow! I traveled to Port Aransas and gold went up again and SAT got rain. In fact, it rained again 15 minutes after my return. By the way, it is summer and time for most of my travels. Beware of my effect upon gold market and rainfall! Really, I know well who is in control of weather and markets and am thankful to Him for whatever He brings.
Gold has bounced between a high of $636.60 at 8:44 today from a low of $617.40 at 4:58 today. For the earlier part of the last 24 hours yesterday, gold stayed well above $628. It is currently at $632.10. Traders may have started leaving for the week end of this short trading week.
Take a look at the Kitco.com 5-Year Chart on gold to see how little the "correction", just experienced, showed on the graph. Check out the 10-Year chart to see the clear bowl appearance of the prices over this period. This is a clear indication of the long term bull trend of gold prices. Of course, we should expect downward upsets as the price climbs over the long haul. We must hang tough during each of these as long as the long term trend remains in tact.
As far as the general market goes for now, I see it as very dangerous. The pressures on the dollar remain strong enough to keep it on the downward path. The DJI is now at about 11152+, after regaining a lot of the loss during the last few sessions. Currently, it is down from yesterday about 73 points. Not very encouraging, is it?
I am hanging onto natural resource stocks, a few defense stocks, but am concentrating mostly on precious metal mining stocks and foreign currencies (EURO, Swiss Franc, Renmimbi, and other Asian). I still use EVERBANK.com. You make your own choices!
Remember not to forsake the gathering together of the saints this coming Lord's Day. Corporate worship is very important. We must encourage one another as we worship and fellowship together. This is a vital part of growing in grace (sanctification). Let us praise the Lord Jesus Christ in all that we do.
Best to each, Doug
Gold has bounced between a high of $636.60 at 8:44 today from a low of $617.40 at 4:58 today. For the earlier part of the last 24 hours yesterday, gold stayed well above $628. It is currently at $632.10. Traders may have started leaving for the week end of this short trading week.
Take a look at the Kitco.com 5-Year Chart on gold to see how little the "correction", just experienced, showed on the graph. Check out the 10-Year chart to see the clear bowl appearance of the prices over this period. This is a clear indication of the long term bull trend of gold prices. Of course, we should expect downward upsets as the price climbs over the long haul. We must hang tough during each of these as long as the long term trend remains in tact.
As far as the general market goes for now, I see it as very dangerous. The pressures on the dollar remain strong enough to keep it on the downward path. The DJI is now at about 11152+, after regaining a lot of the loss during the last few sessions. Currently, it is down from yesterday about 73 points. Not very encouraging, is it?
I am hanging onto natural resource stocks, a few defense stocks, but am concentrating mostly on precious metal mining stocks and foreign currencies (EURO, Swiss Franc, Renmimbi, and other Asian). I still use EVERBANK.com. You make your own choices!
Remember not to forsake the gathering together of the saints this coming Lord's Day. Corporate worship is very important. We must encourage one another as we worship and fellowship together. This is a vital part of growing in grace (sanctification). Let us praise the Lord Jesus Christ in all that we do.
Best to each, Doug
posted by Doug @ 9:44 AM
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