A Preview Gold Rush - God May Turn Us Around In This 21st Century
Folks, I wanted to get this out to you as soon as possible, and the blog is not allowing graphs to be included at present.
Gold has been bouncing around $1,000 and is now 997.60 on an uptick. Silver is 16.61, and also on an up tick. The Boyz are active in trying to hammer both down, but the demand has proved too strong for them at present. There is likely to be some profit taking.
Here are some of the miners: AUY 10.51; CEF 13.06; DROOY 8.52; GDX 45.33; GG 40.62; GLD 98.16; HL 3.90; HMY 11.3104; IAG 13.4901; KGC 22.03; NEM 46.03; PAAS 23.22; SLW 11.8301; SSRI 21.94, and VGZ 2.46.
From Casey Research's Ed Steer's Gold & Silver Daily:
"And now for the open interest numbers from Friday. As you can imagine, they were awful. But, as bad as they are, they will pale in comparison to the o.i. numbers for Tuesday when they come out later today. Gold open interest rose another monstrous 13,212 contracts to 438,504... on big volume [for a Friday before a long weekend] of 124,410 contracts. Silver o.i. was only up a modest 1,024 contracts to 113,418... on volume of 33,052 contracts... which is pretty big for silver.
As you can see, the bullion banks are throwing everything at this rally that they have... no matter how big their net short position gets... and right now, based on yesterday's volume, it's knocking on the door of 28 million ounces... a new record high! That's about 35% of this year's gold mine production. The silver net short position is big too, but still has a long way to go to get to any sort of record." (Color Added by Doug for Emphasis)
The boyz are definitely after this rally. They want it stopped; however, as I wrote yesterday, the buying has brought the price back up each time the boyz step in. This is really amazing, because the boyz have the deep pockets. Of course, we would expect to see some profit taking as the run up in gold has been extremely rapid and steep. There are likely to be sandy spots on the way upward, but it seems that we are playing at a higher altitude now and are likely to stay here for a while.
From The Daily Pfennig today:
First, on the Euro:
"The currencies, for the most part, kept the heat on the dollar throughout the day and in the overnight markets. The euro, did rise to 1.45 and change yesterday, while it is hovering right at that figure this morning, so it did give a little bit back. . . .
There were no big announcements last night like we saw on Monday, so the currencies didn't have anything to push them further. In fact, there may be a "letting the dust settle" period of time, with the Big Dog, euro, before we see any further advancement, given the euro's huge gains yesterday..."
Secondly, on the Gold Rush:
"There's no mistaking the appearance of a rush to Gold in the past week... And why did the rush occur? Well, to me, as I explained yesterday, it's simply an understanding that inflation is on the other side of what we are now experiencing, and if you can pick Gold up now at those levels that existed last week (sub $1,000), why not, before it takes off?"
We have been treated to what to expect in a gold rush. This has been one of major proportion. It is a preview of what can happen when people rush into the precious metals. It is reminiscent to the one back in 1979 up to early 1980. However, the current one was not as extreme. It is interesting to see the prices of the mining stocks respond to such a pre-rush to gold. Portfolios can jump 15 - 30 % a day. The increases in my gold portfolios was above 17% since Thursday. Several of my trailing stops were hit yesterday realizing profit and providing funds for more investment on any pull back. It is possible that we will soon see that any price of gold below $1,000 is a reasonable price. The new trading plateau will have to be established for us to see the new trading range of gold.
I am excited to see what God will do in calling These United States of America to repentance and turning back to Him. He has issued the call to us by providing the chaos that our individual and national sins have brought upon us. This chaos is His way of warning us and calling us to reconciliation with God the Father through His Only Begotten Son, King Jesus.
It is great to see many families turning to home schooling of children to provide a real education. The government schools are teaching history which is rewritten to exclude all references by our founders to the providence of God which provided victory in the American Revolution. It was, also, the influence of the reformers, particularly, John Calvin's view of the magistrate which lead our founding fathers under the Geneva Bible to have a Godly revolution. This is in direct contrast to the revolt of the French against all authority. To form America, we had a government (magistrate) which was in control, while the French had an uncontrolled mob.
The civil government or magistrate is a minister of God to punish sinful people who violate the the laws of God. A Godly magistrate will protect the life, liberty, and property of the citizens without interfering with their individual lives, as long as they do not violate the rights of other citizens. Examine the civil authorities in America today to see if they are acting in accordance with their God ordained authority.
We must praise Him daily, because King Jesus cares enough about America to issue the call to His people. This is the day and now is the hour for us to return to Him. Blessed is the nation Whose God is the Lord Jesus Christ.
Best to each, Doug
Gold has been bouncing around $1,000 and is now 997.60 on an uptick. Silver is 16.61, and also on an up tick. The Boyz are active in trying to hammer both down, but the demand has proved too strong for them at present. There is likely to be some profit taking.
Here are some of the miners: AUY 10.51; CEF 13.06; DROOY 8.52; GDX 45.33; GG 40.62; GLD 98.16; HL 3.90; HMY 11.3104; IAG 13.4901; KGC 22.03; NEM 46.03; PAAS 23.22; SLW 11.8301; SSRI 21.94, and VGZ 2.46.
From Casey Research's Ed Steer's Gold & Silver Daily:
"And now for the open interest numbers from Friday. As you can imagine, they were awful. But, as bad as they are, they will pale in comparison to the o.i. numbers for Tuesday when they come out later today. Gold open interest rose another monstrous 13,212 contracts to 438,504... on big volume [for a Friday before a long weekend] of 124,410 contracts. Silver o.i. was only up a modest 1,024 contracts to 113,418... on volume of 33,052 contracts... which is pretty big for silver.
As you can see, the bullion banks are throwing everything at this rally that they have... no matter how big their net short position gets... and right now, based on yesterday's volume, it's knocking on the door of 28 million ounces... a new record high! That's about 35% of this year's gold mine production. The silver net short position is big too, but still has a long way to go to get to any sort of record." (Color Added by Doug for Emphasis)
The boyz are definitely after this rally. They want it stopped; however, as I wrote yesterday, the buying has brought the price back up each time the boyz step in. This is really amazing, because the boyz have the deep pockets. Of course, we would expect to see some profit taking as the run up in gold has been extremely rapid and steep. There are likely to be sandy spots on the way upward, but it seems that we are playing at a higher altitude now and are likely to stay here for a while.
From The Daily Pfennig today:
First, on the Euro:
"The currencies, for the most part, kept the heat on the dollar throughout the day and in the overnight markets. The euro, did rise to 1.45 and change yesterday, while it is hovering right at that figure this morning, so it did give a little bit back. . . .
There were no big announcements last night like we saw on Monday, so the currencies didn't have anything to push them further. In fact, there may be a "letting the dust settle" period of time, with the Big Dog, euro, before we see any further advancement, given the euro's huge gains yesterday..."
Secondly, on the Gold Rush:
"There's no mistaking the appearance of a rush to Gold in the past week... And why did the rush occur? Well, to me, as I explained yesterday, it's simply an understanding that inflation is on the other side of what we are now experiencing, and if you can pick Gold up now at those levels that existed last week (sub $1,000), why not, before it takes off?"
We have been treated to what to expect in a gold rush. This has been one of major proportion. It is a preview of what can happen when people rush into the precious metals. It is reminiscent to the one back in 1979 up to early 1980. However, the current one was not as extreme. It is interesting to see the prices of the mining stocks respond to such a pre-rush to gold. Portfolios can jump 15 - 30 % a day. The increases in my gold portfolios was above 17% since Thursday. Several of my trailing stops were hit yesterday realizing profit and providing funds for more investment on any pull back. It is possible that we will soon see that any price of gold below $1,000 is a reasonable price. The new trading plateau will have to be established for us to see the new trading range of gold.
I am excited to see what God will do in calling These United States of America to repentance and turning back to Him. He has issued the call to us by providing the chaos that our individual and national sins have brought upon us. This chaos is His way of warning us and calling us to reconciliation with God the Father through His Only Begotten Son, King Jesus.
It is great to see many families turning to home schooling of children to provide a real education. The government schools are teaching history which is rewritten to exclude all references by our founders to the providence of God which provided victory in the American Revolution. It was, also, the influence of the reformers, particularly, John Calvin's view of the magistrate which lead our founding fathers under the Geneva Bible to have a Godly revolution. This is in direct contrast to the revolt of the French against all authority. To form America, we had a government (magistrate) which was in control, while the French had an uncontrolled mob.
The civil government or magistrate is a minister of God to punish sinful people who violate the the laws of God. A Godly magistrate will protect the life, liberty, and property of the citizens without interfering with their individual lives, as long as they do not violate the rights of other citizens. Examine the civil authorities in America today to see if they are acting in accordance with their God ordained authority.
We must praise Him daily, because King Jesus cares enough about America to issue the call to His people. This is the day and now is the hour for us to return to Him. Blessed is the nation Whose God is the Lord Jesus Christ.
Best to each, Doug
posted by Doug @ 9:55 AM
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