Silver on the Move - Gold Consolidating

Looks as though we have hit another sandy spot in the gold bull market. Silver seems to have come to life and is making up the difference.

The IMF pending sale of gold into the market is likely to have had some impact on the price of gold. We have also had news that the higher price of gold has slowed some of the jewelry sales in India; however, the purchases of metals and coins still remains strong. The demand for precious metals, particularly gold by the masses of China is increasing steadily.

Though gold is in a tight trading range at present, we are overdue for a correction as the bull market continues. At times corrections are healthy in a strong bull market. Too fast a run up in price always causes some fear of a drop. The third phase will sky rocket the price of precious metals, but will also end in the final blow off.

At present gold is at 934.30 (off 4) and silver at 18.19 (up 0.18). Wow, silver is really hanging in there well and pursuing higher levels. Glad to have a balance of gold and silver in our portfolios, are we not?

The mining stocks are off for the most part today. Here are some: AGXM 1.40; CDY 1.24; CDE 4.84; DROOY 12.10; GFI 13.99; GSS 4.099; HMY 12.18; IAG 7.53; KGC 23.84; KRY 1.65; MRB 5.28; NEM 49.31; VGZ 5.35; and XRA 4.55. The Indexes & ETF: CEF 13.2599 Up due to holdings of silver; GDX (miners) 50.63; and GLD 92.23. Silvers: PAAS 36.008; SLV 180.50; SLW 16.40; and SSRI 33.7597.

Let us continue to praise the Lord for His loving care of His people. We are not always spared from set backs and challenges, but He is with us always. We are eternally safe with Him. Thus, we can even rejoice during times of "troubles" and seek to know what He is teaching us through trials. He never tries us beyond what we are able to stand and always provides an eventual way of escape. Praise Him daily for His care.

Best to each, Doug