Thoughts on Markets

Monday, July 28, 2008

Precious Metals in Holding Mode



Folks, the precious metals are in a consolidation or holding mode in which I believe they will be until the fall. Once again this morning, both gold and silver were beaten down as the NY markets opened. The boyz are at it again, or rather still. It is absolutely amazing how much control they exercise over these markets. Historically, the pressure eases some in the fall and winter.

After August, gold will enjoy a four months until the December contract expires and silver will enjoy a three month span for its contracts. That will be the reason for the fall and winter rise in prices. The boyz will not have to roll over their contracts monthly during the period.

In view of this, one can add to his holdings until the end of August. It might be a "sell the farm" time to go all in on both gold and silver. After today, it could be well to ease into metals and mining stocks cautiously, while waiting until the end of August.

The graphs, above, show the action of the boyz roll overs as the options expire today for gold. Both gold and silver are being hit. However, checking the 1-Year Gold Graph, it is easy to see that gold has moved ahead for the last year (660 to 927.20 is no slouch).

Silver is at 17.34 and gold is at 927.20 now on the spot prices.

Remember, we are always to educate ourselves and make the best possible decisions for ourselves, move out in accordance with our prayerful, careful plans, and depend upon the Sovereign God of all for results.

Best to each, Doug

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