Gold Remains in Tight Trading Range
For the last 24, Gold hit a high of $623.70 today at 9:04 and a low of $617.50 yesterday evening at 9:17. It certainly is not very exciting at present unless you are interested in increasing your stake in gold and mining stocks. If you are, be cautious and buy slowly. We may see a little lower price during the next two weeks.
Soon, the fall season will arrive. With it, we are in hopes of RAIN, of which we have had very little for too long a time. But the period of fall through December has been a higher time for precious metal prices. This is something for which we must look forward.
Remember to keep your eye on the long term bull market for gold. Rather, it is a long term bear market for the dollar. Go to Kitco.com and look at their 1-Year Gold Chart. The bull market on gold remains solidly intact.
Gold was languishing around $400 an ounce a year ago. An increase to above $600 is still a good return. There will be more in the future!
The long term downward trend of the dollar and most other paper currencies is assured by the government trend of ever increased spending and by central banks of the world, particularly our Federal Reserve, continuing to create "money" out of thin air. They no longer need to print, but simply through the fractional banking system do it with computer blips.
Governments are bent on ever increased spending for welfare and other unconstitutional causes. They are determined to avert recessions and depressions by increasing the "money supply". They hide this by manipulating statistics on unemployment, consumer spending, and all other market statistics. For example, the broad money "M3" was recently dropped to conceal the total "money" in circulation from the public. Thus, the dollar must lose some thirty to fifty percent of its purchasing power during the next few years.
Please, take a long term view which will reveal that things are better than dollars and, particularly precious metals which have retained value over time. Make plans accordingly and commit your plans to the Lord our God and He will see you through. (Ps. 37:5,6 and Pr. 16:3)
Best to each, Doug
Soon, the fall season will arrive. With it, we are in hopes of RAIN, of which we have had very little for too long a time. But the period of fall through December has been a higher time for precious metal prices. This is something for which we must look forward.
Remember to keep your eye on the long term bull market for gold. Rather, it is a long term bear market for the dollar. Go to Kitco.com and look at their 1-Year Gold Chart. The bull market on gold remains solidly intact.
Gold was languishing around $400 an ounce a year ago. An increase to above $600 is still a good return. There will be more in the future!
The long term downward trend of the dollar and most other paper currencies is assured by the government trend of ever increased spending and by central banks of the world, particularly our Federal Reserve, continuing to create "money" out of thin air. They no longer need to print, but simply through the fractional banking system do it with computer blips.
Governments are bent on ever increased spending for welfare and other unconstitutional causes. They are determined to avert recessions and depressions by increasing the "money supply". They hide this by manipulating statistics on unemployment, consumer spending, and all other market statistics. For example, the broad money "M3" was recently dropped to conceal the total "money" in circulation from the public. Thus, the dollar must lose some thirty to fifty percent of its purchasing power during the next few years.
Please, take a long term view which will reveal that things are better than dollars and, particularly precious metals which have retained value over time. Make plans accordingly and commit your plans to the Lord our God and He will see you through. (Ps. 37:5,6 and Pr. 16:3)
Best to each, Doug
posted by Doug @ 9:33 AM
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