Precious Metals Providing Buying Opportunity

All of the economic data shows that Obama's rosy picture was an embellishment of the truth. It was all bad yesterday and is likely to be so in the near future. The people of God can rise above fear and worry, because we have the one and only God who is in absolute control. He continues to work all things for the eventual good of His people.

He reminds us in Pr. 21:31, "The horse is prepared against the day of battle, but victory is of the Lord." Certainly, we need to be prepared for any situation using our understanding of the word of God in wisdom. We are to be wise a serpents and harmless as doves, but we are not to just sit on our duffs and put God in a corner from our perspective. As we prayerfully study the world in the light of God's word, the Holy Spirit reveals to us the preparations we should make in advance of any situation. Then we are told that the success of our endeavors will be up to the Sovereign God.

Thus, we are responsible to do our part, but leave the result up to God. Then we are to praise Him daily for His providence. This is the only way to life, peace, and true security. Realize that God brings trials upon us to teach us and to help us grow more Christ like. Praise Him in the midst of trials.
In the, above, graph of gold, we see that there seems to be resistance at the 900 level. Gold bounced off the 50 Day Moving Average, again. This is encouraging.
Gold was slammed down at the NY opening, again. It does seem to be climbing again, but may offer us some buying opportunity today. Stay on top of the price movement. Gold is presently 915.60 on a down tick.
Silver was not as violently slammed today, but it is having trouble going above 13. It is presently 12.84 on a down tick.

From Mine Web:

Two steps forward, one step back, for gold price but trend is still upwards

The gold price trend is still upwards despite the occasional fallbacks and at some stage $1,000 may yet become the new floor.

Author: Lawrence Williams
Posted: Friday , 13 Mar 2009

LONDON -

The gold price at the moment is behaving like Sisyphus' rock. Sisyphus in Greek legend was doomed to push a big rock up to the top of a mountain, but every time he almost reached the summit, the rock would come tumbling down again and he would have to start over - for eternity! With gold the summit seems to be somewhere around $1,000 and every time we reach this level the price tends to fall back sharply. However, unlike for Sisyphus, it does not fall back right to the bottom each time, but to a slightly higher plateau from which the upward push recommences. Read it HERE.

The overall trend is upward and onward. Thus, we must stay the course. The worst thing an investor can do is buck the trend. The trend is our friend.

More form Mine Web:

Gold rallies as ETF demand revives and Switzerland pushes down its currency

Gold recovered a little of its sparkle today as news came in of a renewed increase in the holdings of the wrold's largest ETF and the Swiss Central Bank moved to reduce the value of the Swiss franc.

Author: Paul Lauener and Jan Harvey
Posted: Friday , 13 Mar 2009

LONDON (Reuters) -

Gold jumped 1 percent on Friday, reversing earlier losses, as buying on the U.S. market pushed prices through technical resistance, with ETF buying and fears of currency devaluation fuelling interest in the metal.

Spot gold climbed to $935.20/936.70 an ounce at 1245 GMT (8:45 a.m. EDT) from $926.65 late in New York on Thursday. Earlier it touched a low of $918.80. Read it HERE.

The Swiss have joined the crowd in lowering interest rates. It seems that banks are in a race to the bottom. False rates of interest are nothing but market intervention which distort investments into the wrong areas.

More from China through Mine Web:

Chinese Central Bank sees gold, oil and other resources recovering this year, but dubious on dollar

The People’s Bank of China sees potential rebound in gold, oil, other resource prices, but feels outlook for U.S. dollar uncertain beyond start of year as the U.S. deficit and low rates sap attraction of dollar assets.

Author: Zhou Xin and Simon Rabinovitch
Posted: Friday , 13 Mar 2009

BEIJING (Reuters) -

The prices of resource products from gold to crude oil are likely to see upward pressure later this year, while the outlook for the dollar is uncertain, China's central bank said in a report issued on Friday.

In its annual international financial markets report, the People's Bank of China said it expected global demand to continue to weaken this year but held out the hope that the forceful policy response of governments could lead to a turning point in the world economic crisis. Read this HERE.

Is that a mild threat or what? Were China to dump dollars in mass, it would bankrupt the dollar. China has a right to seek realistic backing for the dollar. The world wants that as well, but we are not providing it.

From WorldNetDaily:

Fed-up Americans mobilize: More than 150 tea parties
Patriots put blazing heat on Washington, rebuke reckless spending

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Posted: March 15, 2009
9:50 pm Eastern

By Chelsea Schilling
© 2009 WorldNetDaily

A revolution is brewing as American patriots and advocates of the free-market system unite in protest against out-of-control government spending – with a wildfire movement of more than 150 nationwide tea parties. Read it and play the video HERE.

When the government is no longer listening to the people, there will be protests. After all, a good government will protect the life, liberty, and property of its citizens. We must realize that our federal government has given up this task and is attempting to control, not protect the citizens.

Keep your focus on expanding knowledge of the Word of God and His kingdom.

Best to each, Doug