Thoughts on Markets

Wednesday, July 16, 2008

Both Gold and Silver Fall Back Again


Both silver and gold about mid day yesterday and again today took great tumbles after the opening of the NY Markets. This is not natural. I believe it is contrived. Some may come from profit taking by short term investors, but the moves are larger than that. Yesterday there was a rebound immediately after the drops. Today is showing similar action. Thus, the drama continues. "How long, O' Lord" as David asked in the psalms. That is our question, too. However, the Lord does not always act in our timing. His is much better, so we must be content to watch and wait.

Some correction may be necessary, due to the sharp run up of the last few days. The upward trend is unbroken and is likely to continue shortly. The dollar rebounded a bit for the time being, but the Japanese Yen and Swiss Franc moved sharply upward against the failing dollar.

In spite of all the bad news issued daily, even the DJI are up some 133+ at this moment. This, too, seems to be a temporary bounce.

Silver is currently18.83 and gold 952.40. I have been adding to my January Calls on Pan American Silver (PAAS).

Keep your focus on King Jesus and His will for us as found in the bible. Be a reader and daily student of the bible for success in spiritual life. It provides a guide for a Christian world and life view not available from any other source.

Best to each, Doug

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