Gold Bouncing About - Challenging Our Resolve
Gold closed at 906.10 on Monday; 927.70 Tuesday, and for the last 24 hours the high was 930.10 and the low 912.80. It is now 919.90. Silver acted about the same: Monday close 17.08; Tuesday 17.53, and for the last 24 high of 17.64 and low of 17.21. It is now 17.29. All the precious metals seem to be trading on a higher plateau these days.
Today, gold is down against all currencies except the South African Rand. Though the price seems a bit high compared to last week, it may be a good time to climb aboard or add to our holding. That depends upon your risk tolerance and present portfolio.
Harmony (HMY) is back above 11.00, currently at 11.30, the high for the day, and low of 11.15. It is recovering nicely after being oversold due to the power shortages in South Africa. It remains a strong company and is one of my core holdings. Once again, I am glad to have added shares below 10 recently.
Gold looks to be headed for $1,000.00 in the next few weeks, certainly this year. Estimates run as high as $2,000.00 for this year. With all of the inflation (Increase in supply of unbacked paper currencies) throughout the world, it is a no-brainer for this to happen and possibly be on the conservative side. Price inflation is certain to follow. Of course, regardless of the government reports, we are seeing a great deal of price inflation as we shop and pay our bills today. More is sure to follow as a result of the flow of paper currencies by all banks and governments.
The election rhetoric is concentrated in "sound bites" upon which the masses depend for decisions on voting. I believe we should be concentrating upon the records of the individuals. Their actions should be so loud in our minds that we can not hear their wanton promises which will never be fulfilled when/if elected.
Gold has moved to 920.50. Guess the manipulators are at work. Some day, their influence will be much less and gold will be free to move to its true market value. This is possible regardless of what appears to be happening now.
Once again, it is time to rejoice that our Sovereign God is in complete control. Were we, it would be greatly worse than it may seem today. Looking back on history, one can see the hand of God working among men. He loves His people and always works for their eventual good. He is also a great help in times of challenge, because we can depend upon the great promises in His word. However, it is important to study and meditate daily upon His word to so hide His words in our hearts that we could not sin against Him.
Best to each, Doug
Today, gold is down against all currencies except the South African Rand. Though the price seems a bit high compared to last week, it may be a good time to climb aboard or add to our holding. That depends upon your risk tolerance and present portfolio.
Harmony (HMY) is back above 11.00, currently at 11.30, the high for the day, and low of 11.15. It is recovering nicely after being oversold due to the power shortages in South Africa. It remains a strong company and is one of my core holdings. Once again, I am glad to have added shares below 10 recently.
Gold looks to be headed for $1,000.00 in the next few weeks, certainly this year. Estimates run as high as $2,000.00 for this year. With all of the inflation (Increase in supply of unbacked paper currencies) throughout the world, it is a no-brainer for this to happen and possibly be on the conservative side. Price inflation is certain to follow. Of course, regardless of the government reports, we are seeing a great deal of price inflation as we shop and pay our bills today. More is sure to follow as a result of the flow of paper currencies by all banks and governments.
The election rhetoric is concentrated in "sound bites" upon which the masses depend for decisions on voting. I believe we should be concentrating upon the records of the individuals. Their actions should be so loud in our minds that we can not hear their wanton promises which will never be fulfilled when/if elected.
Gold has moved to 920.50. Guess the manipulators are at work. Some day, their influence will be much less and gold will be free to move to its true market value. This is possible regardless of what appears to be happening now.
Once again, it is time to rejoice that our Sovereign God is in complete control. Were we, it would be greatly worse than it may seem today. Looking back on history, one can see the hand of God working among men. He loves His people and always works for their eventual good. He is also a great help in times of challenge, because we can depend upon the great promises in His word. However, it is important to study and meditate daily upon His word to so hide His words in our hearts that we could not sin against Him.
Best to each, Doug
posted by Doug @ 8:28 AM
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