Spot Gold at 705.80

Here is the 60 Day Gold Graph from Kitco.com from yesterday. The technical indication was that gold was going above 700. Note also, yesterday December gold went to 700. Now gold is at 706.30. Just seconds ago it was at the price indicated in the Title, above.

Those with a long term perspective are currently being rewarded. However, the rhetoric and gold sales may be on the horizon. Governments and central banks don't give up easily. They enjoy the monopoly of paper currencies and fear gold in the hands of their citizens.

Gold must continue above 700 for this move to maintain positive action. Perhaps, we are reaching a higher plateau in the price of gold. Could those who war against gold be letting it stay around 700? Possibly!

Mining stocks are responding nicely to the 700 figure. CDY 1.3799; CEF (not mining, but bullion) 9.51; DROOY 7.09; EGO 5.47; GFI 16.38; GSS 3.55; HMY 10.18; IAG 7.89; KGC 13.32; Kry 3.049; MRB 4.10; NEM 43.79; NTO 5.70; PAAS 26; RNO 5.225; SSRI 34.26; XRA 2.62. They all look promising. I am very pleased that I bought DROOY and HMY on the last dips. Hopefully, you did, too.

Remember the trailing stops. I am currently using 15% trailing stops on much of my portfolio. Suggest that you do the same.

Gold has backed off to 702.80, but the last move was up.

Well, it is a busy day for me, so I'll close. Remember, the Lord's Day is coming. It is important that each of us join in corporate worship our Sovereign King Jesus. Each of us needs to be confronted by the Word of God and to participate in the sacraments.

Best to each, Doug