The 60 Day Gold graph from Kitco is a nasty technical picture. The positive "W" at the end of May has detiorated and the lower highs seem to be continuing. Notice, too that there is a series of lower lows, as well.

A look at the 1 Year Gold graph gives a different picture. It clearly shows that the longer term bull trend is still in place. We must always look to the long term trend, else we will make mistakes. Certainly, the 60 Day graph yields a different short term picture and the price of gold may drop farther during the summer. This is a period of time when the price of precious metals goes lower.

Depending upon your reserve cash and the present percentage of precious metals and mining stocks in your portfolio, we could be approaching a time for placing more dollars in these assets.

Gold is currently down to $667.90. However, that is still above the recent lows. But it is not exciting for the time being.

Keep looking up to the Lord and focus on the long term trend which shows the dollar will be lower and the precious metals will be higher in price in terms of the depreciating dollar.

Best to each, Doug