Are Precious Metals Our of the Woods Now?

Upon New York open today, we see both silver and gold moving upward which is more comforting than the horrendous down days we have experienced. The fundamentals beneath the bull market in the precious metals is still in tact. We still have the gushing deficit spending of governments at all levels, the continuing very costly war, the expansion of supply of dollars, and all with no end in sight.

Consumers are being squeezed between higher prices for food, fuel, and utilities with little if any increase in wages. In fact, more people are being laid off from employment. Even Ben in his address to congress said that things do not look as rosy. He said that the economy was "contracting." But with his rose colored glasses, he looked to the second half of the year for the economy to strengthen. Do you think he knows something that we don't or this just rhetoric?

Silver is responding better than gold, and I am looking to buy more silver stocks and ETFs with silver (CEF and SLV). Of course, we must remember that silver is not the monetary metal that gold is, but it is a close relative. There seems to be a great growing shortage of silver at retail and also becoming so in the wholesale arena.

Keep trailing stops on the mining stocks and cautiously add to portfolios on each substantial dip in prices. By the way, the mining stocks did not suffer during the last correction at the same percentage as the metals, themselves.

Keep your focus upon obedience to our King Jesus and rest in the fact that He is in control. Best to each, Doug