We need national repentance! - Metals are up!

As you probably noted from my recent postings and email, I am vitally concerned about the fate of our once great nation. We are told in 2 Chronicles 7:14, "If my people, among whom my Name is called upon, do humble themselves, and pray and seek my presence, and turn from their wicked ways, then I will hear in heaven, and be merciful to their win, an will heal their land." (Geneva Bible)

Thus, our God has told us how to heal our land. It is by obedience to His law. Let us commit to that end and pray that all His people will do the same. Then, perhaps, in accordance with His word, He will be merciful and heal America before it is too late. Praise Him daily. Remember, even His judgment and wrath upon nations is to bring His people back to Him.

I am concerned, but have not given up and rest in the fact that our King Jesus is in control of all that has happened, is happening, and will happen. Nothing can separate His people from the love of God which is in Christ Jesus our Lord.

Gold is up 8 to 965.20 now. Here is the graph which shows a very steep climb and new higher prices.
Below is the gold graph on which I have plotted today's price (red vertical line circled in red). Note that there is a break out to the up side in early trading. The RSI is quite positive, but the MACD is neutral. Were gold to close above 980, this would be strong indication of much higher prices for the metal. The present move is a strong one.
Silver has moved in concert with gold and is showing strength, as well. It is currently 15.07.
The miners have yet to respond to these sharp moves in the precious metals. However, all are up today. Neither the RSI nor the MACD has moved to the positive direction yet.

Here are the miners streaming quote from Scottrade.com:



From Inflationomics. com:

Several More Cracks in the Dollar Dam

1. As confidence in the U.S. dollar wanes, gold’s popularity rises. More and more people are realizing that gold (and silver) are safer (as a store of value) than are paper dollars.
   
   Not only are central banks becoming more reluctant to sell their gold holdings, but some nations are actively trying to increase their gold reserves. China, in particular, with more than one trillion U.S. dollars in reserve, is trying to accumulate gold as quickly as possible without causing a panic rush into gold. A panic would raise gold prices quickly, thus defeating China’s ability to accumulate more gold at a reasonable price and simultaneously reduce the value of its U.S. dollar holdings. In fact, China is requiring a majority of its domestic gold mines to sell their finished product to the Chinese central bank. Even U.S. citizens are demanding more gold and silver coins than the U.S. Treasury can produce. This is a fine article which should be read. Read it HERE.

From Reuters India:

UPDATE 1-India Aug gold imports fall sharply on year - trade

Tue Sep 1, 2009

* Festivals push Aug imports, but still down sharply on year

* Jan-Aug imports at 84.6 tonnes, down 68 pct on year

* Price fall by about $20 could spur good demand (Updates to add details, more quotes)

MUMBAI, Sept 1 (Reuters) - India's gold imports in August slumped by more than 85 percent from a year earlier as high prices and weak monsoon rains dented demand, the top official of Bombay Bullion Association (BBA) said on Tuesday.

BBA President Suresh Hundia told Reuters provisional figures showed imports of between 12 and 14 tonnes in August, compared with imports of 98 tonnes last year.

"Gold prices are high and so are the prices of everything else. The monsoon is also not good," Hundia said. Read it HERE.

From Bloomberg.com:

Gold May Break Out to Record, Grabham Says: Technical Analysis

Sept. 1 (Bloomberg) -- Gold may advance to a record $1,325 an ounce if it first breaks out of a symmetrical, triangular pattern, a move that may occur in the next one or two weeks, Standard Bank Group Ltd. said, citing trading patterns.

A so-called topside breakout would be indicated by a close at more than $980.85 an ounce, Darran Grabham, the bank’s technical analyst, wrote in a note yesterday. That would signal a short-term bull trend to at least $1,100 an ounce, he said. Gold traded today at $952.80. Read it HERE.

Best to each, Doug