Assassination Beats on Dollar and Pushes Gold Up

Above is the www.kitco.com 24 hour Gold graph which clearly shows the increase in bid price of gold. The assassination in Pakistan has pushed the dollar lower at the same time. The Euro is 1.46 to the dollar at present. It is nice to see gold respond to the perceived dangerous situation as it should.

On gold, "da-boyz" whoever they are must have great financial backing, because they have jumped in to increase their shorting of gold as it increases in price. Could it be that the gigantic Sovereign Wealth Funds are playing in this game? This are big resources for playing in this arena. Some day, but not now, the manipulators will run out of steam. Then their power will be gone. When is the big question we all have.

Meanwhile almost all mining stocks are up in price. Look for corrections to add to your portfolios if you want more, as do I.

The general market is showing some signs of life with the DJI up 28.28 now. The drop yesterday was significant, so a bounce should be expected today. However, the upward move today is lack luster. Likely, many traders are still enjoying the holidays.

Crude has moved to above $96, so we should expect higher pump prices to fill our SUVs. Any unrest in the mid east will send the price higher.

The New Year is almost on us. The time for selling of dogs for tax advantage is rapidly going away.

The Lord in His wisdom gives us seasons for rededication and hope. The New Year is one which presents a significant opportunity. Look toward it with renewed anticipation of learning more of the Lord's will for each of us in our lives. His written word in the Bible gives us all the knowledge we need for every area of life. As James says, "If any of you lack wisdom, let him ask of God that giveth to all men liberally, and upbraideth not; and it shall be given him. But let him ask in faith nothing wavering."

Best to each, Doug