Gold a Bit Higher
Gold has moved up to a high of $595.20 as of yesterday with a low of $579.30 also of yesterday. It is now at $593.50. The price is approaching the perceived resistance of $600. It must move beyond that and stay there for it to go higher. Perhaps, after the election, we will see the move.
Silver is at $12.60 which is a nice upward move, too. We will see more movement in both directions over the next few months.
The recent prices on mining stocks are still remaining at levels above recent lows. BGO 4.33; CBJ 3.65; CDY 1.54; CEF 8.35; DROOY 1.32; EGO 4.31; GSS 2.82; HMY 15.17; IAG 8.81; KRY 2.91; MRB 3.03; NEM 44.98; NTO 4.62; PAAS 22.12; QEE 0.24; RNO 2.70; SSRI 23.64; XVE 9.50. The reaction of these stocks prices were not as pronounced as were the prices of precious metals during this correction.
The general market, even though the DJI has moved and stayed above 12000 (now 12147.89), is still a dangerous place. The dollar is living on borrowed time, but may do so for months ahead. It has dropped a bit in the last few days against other paper currencies. We must keep in mind that all of the paper currencies are just that - paper. The precious metals should be the preferred store of value. The paper will depreciate and is subject to the whims of governments, but mostly to those of the central bankers.
We must place our trust, not in man and his changeable character, but in the Lord Jesus Christ Who is changeless.
Best to each, Doug
Silver is at $12.60 which is a nice upward move, too. We will see more movement in both directions over the next few months.
The recent prices on mining stocks are still remaining at levels above recent lows. BGO 4.33; CBJ 3.65; CDY 1.54; CEF 8.35; DROOY 1.32; EGO 4.31; GSS 2.82; HMY 15.17; IAG 8.81; KRY 2.91; MRB 3.03; NEM 44.98; NTO 4.62; PAAS 22.12; QEE 0.24; RNO 2.70; SSRI 23.64; XVE 9.50. The reaction of these stocks prices were not as pronounced as were the prices of precious metals during this correction.
The general market, even though the DJI has moved and stayed above 12000 (now 12147.89), is still a dangerous place. The dollar is living on borrowed time, but may do so for months ahead. It has dropped a bit in the last few days against other paper currencies. We must keep in mind that all of the paper currencies are just that - paper. The precious metals should be the preferred store of value. The paper will depreciate and is subject to the whims of governments, but mostly to those of the central bankers.
We must place our trust, not in man and his changeable character, but in the Lord Jesus Christ Who is changeless.
Best to each, Doug
posted by Doug @ 8:52 AM
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