Looking for a Low in Metals Soon - Rest in King Jesus

All seems to be lining up for a low in precious metals this week or next. Remember that the Fed Reserve + Bullion Banks have a obscene number of shorts on silver and gold. These they will want to cover at lower prices. As we observed last week, they are still active in the markets. However, it has not been so obvious this week. Of course, there was more saber rattling about sales of gold by IMF and banks, and that is part of the game. I believe that China is willing to purchase any that comes on the market for sale at the right price.

Both silver and gold have been punished a bit today. Silver is now 16.13 on a down tick.

Gold is 991.30 on an up tick. It was hit hard and spiked down at the middle of London and the opening in NY.

The GLD (current proxy for gold) is showing a dismal graph presently. Notice the double top (Red Arrows). The prices are in line in regard to the 50 and 200 day moving averages.

HMY is not looking good in the graph, either. And notice that the 50 and 200 day moving averages are reversed. Not a good sign. I am looking for more down side on HMY.

DROOY has taken a turn for the dark side, as well. Triple top and a recent reverse of the 50 and 200 day moving averages. This portends for more on the downside.

Even BYD is not looking too good at present. However, the fundamentals are very strong for BYD Co. I am holding and looking to buy more if we see it below $8. May even start buying as it approaches $8. This is a longer term hold.
The DOW is down some 41+ to 9747.87. Not too good a showing here, either. Yesterday up today down. Talk about volatility. We are being treated to it on a daily basis. There seems to be a good deal of propping up of the general market by intervention. That may account for some of the volatility.

I am interested in buying more American Silver Eagles, but am waiting for silver to go below $16. Possibly down to 15. There is a 2.10 to 2.50 premium on each coin over the value of the silver content. However, I believe we will be able to get a big bang for our bucks in silver soon.

We rest in the assurance that our Sovereign King Jesus is in absolute control and is moving all in accordance with His will. His will and timing is always the best for us in the long run. Thus, we have the confidence to have peace in the midst of the storms we see Him bring into our lives. We should develop the habit of thanking Him for each one. Each is for His glory and our benefit.

After all, the chief end of man is to "Glorify God and enjoy Him forever." Of course, we glorify God be being obedient to Him as we live our lives on a daily basis. Praise Him and always be grateful.

Best to each, Doug