Thoughts on Markets

Monday, August 18, 2008

Dollar Has Slowed, Precious Metals Are Up A Bit



Precious metals are doing a bit better this morning thanks to the slowing dollar. Gold high 804.50 low 789.60 now 792.50. Silver 13.11 Up 0.41. Gold is up against all major currencies.

Chuck Butler of the Daily Pfennig reminded me of the up coming election again. As he stated, the "lower" gasoline prices may be manipulated to make citizens feel more like voting in the election. Voting the "correct" way, that is. As the saying goes, "Vote early and vote often!" By the way, do you think the stronger dollar could be for the same reason? Shame on you, our government would never do anything like that!

The fact is that the election may well have an impact on the price of commodities, including the precious metals. It could be that the fall rise in the prices of precious metals could be delayed until after the election. This promises to be an interesting election.

The DJI in down by 40+ to 11617.23. One would think that the general stock market would be moving up as a prelude to the election. Maybe that move is a bit early. Most citizens have very short memories.

I am still a bit undecided about the "sell the farm" issue. I do believe it is closer, and I pray the Lord will give us some warning. Of course, I rest in His wisdom which far exceeds any to which we might be tempted to lay claim. He knows, because He is in control. Praise Him for this!

Best to each, Doug

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