Gold ABOVE $1,000 - Daily Praise King Jesus
Folks, The dollar is the story. The dollar broke downward about 5 trading days ago and except for a couple of feeble attempts to recover, it has been down all the way. The Euro is pushing 1.46 and the yen has decoupled from the dollar and is jumping higher.
The trade deficit for July showed the biggest increase in over 10 years as it came in at $31.96 Billion. The Budget Deficit is anticipated to be a gigantic $140 Billion. This situation is not unnoticed by foreigners who are needed to finance our spending binge. China has issued warning after warning and other are joining in raising the cries to a crescendo. China is looking over the real estate "bargains" here and has been shopping the world for natural resources and companies. Thus, China and other countries are shedding dollars to make these purchases which most likely are including gold, as the demand for gold has risen dramatically in the last week.
Gold is the other side of this report. Gold is sprinting ahead and is currently $1,007.80. Needed badly is a close above $1,000. The gold graph, below, shows that gold is very strong, but one should use some caution as the run upward has been rapid and strong. It may continue and looks to be doing so. However, it is showing that it is possibly over bought. It may be wise to put in 10-15+% trailing stops on a portion of your mining stocks. This is a wise precaution and will protect you from a substantial correction. I do not have any in place at present. It will be interesting to see how the traders prepare their precious metal portfolios for the week end.
If you think gold is tracing a very positive curve, check out silver. Using SLV as a proxy for silver, we see that the performance of silver is trumping that of gold percentage wise. This is a very strong graph. Silver may be catching up with gold, as it must at some time. By the way, Silver Double Eagles of recent mintage are available at a cost of around $17 from many larger dealers. Check these out for yourself as they are a reasonable way to get into silver. Of course, I still like the Canadian Trust CEF which is in both gold and silver.
Below, are the miners from the Scottrade Streaming Quotes. They are holding and climbing very well. Note particularly Hecla (HL) which has moved well into the 4.40+ range from around 2.75 days ago. The other silvers PAAS, SLW, and SSRI have benefited from the silver price.
As exciting as the precious metals markets have become, we must always remember that our God is in control and moving ALL THINGS according to His Sovereign plan. We can rest at peace in the assurance that He is in control. Were we in control, we would blow it big time. Our job is to be at peaceful obedience to Him and rest in the fact that He, not we, is God. Adam and Eve chose to question this and all the effects of this original sin give us a sin nature and cause all of what we see as evil in the world about us.
However, God gave us His Son to live a perfect life and to die on a cruel cross in our place that we might be reconciled with God the Father and become joint heirs with Jesus Christ. What a blessing that is for His people. Be sure and join in corporate worship of King Jesus this Lord's Day to hear the sound word of God preached, to participate in the Sacrament of the Lord's Supper, and to be sharpened through fellowship with like minded believers. Praise King Jesus daily as ask Him to bring our leaders and nation to repentance and return to Him.
Silver is 16.90 and gold is 1010.00 while both are on up ticks.
Best to each, Doug
The trade deficit for July showed the biggest increase in over 10 years as it came in at $31.96 Billion. The Budget Deficit is anticipated to be a gigantic $140 Billion. This situation is not unnoticed by foreigners who are needed to finance our spending binge. China has issued warning after warning and other are joining in raising the cries to a crescendo. China is looking over the real estate "bargains" here and has been shopping the world for natural resources and companies. Thus, China and other countries are shedding dollars to make these purchases which most likely are including gold, as the demand for gold has risen dramatically in the last week.
Gold is the other side of this report. Gold is sprinting ahead and is currently $1,007.80. Needed badly is a close above $1,000. The gold graph, below, shows that gold is very strong, but one should use some caution as the run upward has been rapid and strong. It may continue and looks to be doing so. However, it is showing that it is possibly over bought. It may be wise to put in 10-15+% trailing stops on a portion of your mining stocks. This is a wise precaution and will protect you from a substantial correction. I do not have any in place at present. It will be interesting to see how the traders prepare their precious metal portfolios for the week end.
If you think gold is tracing a very positive curve, check out silver. Using SLV as a proxy for silver, we see that the performance of silver is trumping that of gold percentage wise. This is a very strong graph. Silver may be catching up with gold, as it must at some time. By the way, Silver Double Eagles of recent mintage are available at a cost of around $17 from many larger dealers. Check these out for yourself as they are a reasonable way to get into silver. Of course, I still like the Canadian Trust CEF which is in both gold and silver.
Below, are the miners from the Scottrade Streaming Quotes. They are holding and climbing very well. Note particularly Hecla (HL) which has moved well into the 4.40+ range from around 2.75 days ago. The other silvers PAAS, SLW, and SSRI have benefited from the silver price.
As exciting as the precious metals markets have become, we must always remember that our God is in control and moving ALL THINGS according to His Sovereign plan. We can rest at peace in the assurance that He is in control. Were we in control, we would blow it big time. Our job is to be at peaceful obedience to Him and rest in the fact that He, not we, is God. Adam and Eve chose to question this and all the effects of this original sin give us a sin nature and cause all of what we see as evil in the world about us. However, God gave us His Son to live a perfect life and to die on a cruel cross in our place that we might be reconciled with God the Father and become joint heirs with Jesus Christ. What a blessing that is for His people. Be sure and join in corporate worship of King Jesus this Lord's Day to hear the sound word of God preached, to participate in the Sacrament of the Lord's Supper, and to be sharpened through fellowship with like minded believers. Praise King Jesus daily as ask Him to bring our leaders and nation to repentance and return to Him.
Silver is 16.90 and gold is 1010.00 while both are on up ticks.
Best to each, Doug
posted by Doug @ 8:47 AM
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