Thoughts on Markets

Sunday, August 24, 2008

Both Silver and Gold are on Down Ticks in Hong Kong


Neither the silver or gold graphs look very encouraging as the Hong Kong markets open. We see that both are on down ticks with gold at 819.10 and silver at 13.17. Both are in buying ranges, but it is wise to see what happens between now and the expiration of futures contracts on August 26. That is only two days away.

Will another buying opportunity be offered to us or will it be an off and running time toward another upward sprint. We will have to wait and see.

Perhaps, the bullion banks and hedge funds have yet to unload all of their shorts in the metals. Thus, they will do so in the next couple of days. They have yet to reveal if they are finished with the games they are playing against us.

I trust that you joined in corporate worship and exercise of the sacrament of the Lord's Supper today. It was a wonderful Lord's Day in San Antonio and the Lord provided a great rain which was badly needed. His blessings continually pour out upon us, the undeserving. We must praise Him for His grace toward us. We deserve none, but He loves us through His Only Begotten Son, Our Lord and Savior Jesus Christ.

Best to each, Doug

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