General Market Disappointed - Gold Up

Gold has moved to a higher plateau for the time being. It is currently at $813.10. And is trading in a rather narrow range since November 27th. The range is from about 815 to 785. The last few days have shown an increasing trend. Of course, this is short term, but it does appear to be quite strong. Naturally, we are at the mercy of the cartel which is still manipulating the price of both gold and silver.

The mining stocks are showing some strength in response to the price of gold. Some are as follows: DROOY 8.17; EGO 5.74; GFI 15.83; GSS 3.31; HMY 10.53; IAG 8.68; KGC 18.48; KRY 2.27; MRB 5.05; NEM 50.07; PAAS 34.60; SSRI 38.15, and XRA 5.54. The Canadian Fund CEF is at 10.69 and the ETF GDX is at 46.82. All are up at this point in the day. We must continue to hang tough on precious metals and mining stocks. There will be ups and downs, but the long term bull trend remains steady.

The general market had a knee jerk reaction to the 0.25% lowering of interest by the Fed yesterday. A 0.50% drop was anticipated. The displeasure resounded with a 300+ drop of the Dow. There is a rebound today with the DJI currently up 132 and change. We are really being treated to a see saw market.

Remember, this is the time of tax selling to get rid of dogs in portfolios to offset the capital gains for income tax purposes. By the way, time is running out to max tax advantage. You can increase deductible contributions, give away property to Salvation Army or Good Will, or pay property taxes. All must be done by December 31st for tax benefit. Not a bad idea to do this now!

Let's keep our focus upon the Son of God, King Jesus, Who came to earth to die that we might be reconciled with His Father. He accomplished what we could never do on our own. He died that we might be made free of sin. What joy and peace He brings to His people.

Best to each, Doug