Safest House - Gold Peak - Silver & Gold Sideways

The precious metals are trading within a narrow trading range or sideways as one of the articles, below, reports. Silver seems to have broken out of the range on the down side.

From MineWeb.com:

BIG PRICE BOOST DOESN'T BOOST GOLD PRODUCTION

Peak gold theory gains impressive adherents

In his latest Basic Points analysis, global market strategist Don Coxe suggests investors maintain a high exposure to gold and gold miners whose production comes from politically secure areas.

Author: Dorothy Kosich
Posted: Monday , 22 Feb 2010

RENO, NV -

Global market strategist Don Coxe, chairman of Coxe Advisors, said he believes in "a hitherto-undiscovered erogenous zone in gold bugs: peak gold-which could be the latest Big Thing since peak oil." Read it HERE.

From MineWeb.com:

KNEE-JERK REACTIONS

Gold shows great resilience in the face of adversity

The gold price has recovered very quickly in each case from two successive announcements which were seen by some as marking the end of the gold bull market.

Author: Lawrence Williams
Posted: Saturday , 20 Feb 2010

LONDON -

A couple of days ago, Mineweb published an article for which the headline noted that the adverse impact on the gold price of the IMF announcement that it would broaden the sale base for the remaining 191.3 tonnes of gold on offer would be a one or two day wonder. And so it proved - probably less than a day in fact for the initial recovery to kick in, but then the price was knocked again by the U.S Fed raising its discount rate and thus effectively providing the first sign of monetary tightening in the U.S. Gold plunged again for less than 24 hours before it recovered virtually to pre-IMF sale announcement levels once more. And what's more the yellow metal achieved all this in the face of dollar strength - usually a precursor of gold price weakness. Read it HERE.

From MineWeb.com:

GLOBAL BOOK WOULD NOW BREAK EVEN AT $720/OZ

Global Gold Hedge book falls 4Moz in Q4

According to a report by the VM Group, the Global hedge book now sits at 7.9Mo and is likely to continue to get smaller

Author: Geoff Candy
Posted: Friday , 19 Feb 2010

GRONINGEN -

Outstanding global gold hedges fell by 4.0Moz in the fourth quarter, bringing the total decline in gold hedges for 2009 to 8Moz. Read it HERE.

From MineWeb.com:

Gold shrugs off bearish news and continues to build firm support around US$1100

In times of monetary crisis, gold is the best insurance you can have

Author: David Levenstein
Posted: Monday , 22 Feb 2010

JOHANNESBURG -

As finance ministers in the European Union continue to pressure Greece into preparing drastic new action to rein in its bulging deficit and debts, a new wave of strikes hit Athens. Greece has a public deficit of about 300 billion euros, or 113 percent of GDP, nearly double the 60 percent limit for countries in the Eurozone. Greek Prime Minister, George Papandreou, now faces intense pressure at home and abroad after unions warned the country is nearing breaking point. Customs and finance ministry staff responded to the EU's action by announcing a new three-day stoppage, days after thousands staged a 48-hour walkout. Read it HERE.

From Bloomberg.com:

China New Village Makes Chanos See Dubai 1,000 Times

Feb. 22 (Bloomberg) -- The township of Huaxi in the Yangtze River Delta is a proud symbol of how Chinese communists embraced capitalism to lift 300 million people out of poverty during the past three decades.

Its leaders took a farm community with bamboo huts and ox carts in the 1970s and transformed it into an industrial and commercial powerhouse where today many of its 30,000 residents live in mansions and most have a car. Per-capita income of 80,000 yuan ($11,700) -- almost four times the national average -- allows Huaxi to claim it’s China’s richest village. Read it HERE.

From Bloomberg.com:

Euro Worst to Come as Greece Hammerlocks ECB on Rates

Feb. 22 (Bloomberg) -- Derivative traders are signaling that the euro’s slump to a nine-month low will continue even if European Union leaders bail out Greece. Read it HERE.

From Bloomberg.com:

Japan Hoarding Treasuries Counters Retreat by China

By Wes Goodman

Feb. 22 (Bloomberg) -- Lost amid government reports that China reduced its holdings of Treasuries by a record amount in December were data showing Japan increased its stake, a move that may signal U.S. yields are peaking.

Purchases by Fukoku Mutual Life Insurance Co., Mizuho Asset Management Co. and Daiwa SB Investments Ltd. helped push Japan's holdings to $768.8 billion, an increase of $11.5 billion. U.S. government debt held by China fell $34.2 billion to $755.4 billion, Treasury Department figures showed Feb. 16. Read it HERE.

What if China does stop buying our debt? They seem to have slowed considerably. How long can Japan continue to buy? Our debt is fully backed by a bankrupt country so deep in debt that it will never pay it all off without killing the dollar purchasing power.

From Yahoo.com:

Is This the Safest House in the World?

Read about this expensive house HERE.

From TheStreet.com:

Gold Prices Trade Sideways

Gold for April delivery was slipping $1.20 to $1,120.90 an ounce at the Comex division of the New York Mercantile Exchange. Gold has traded as high as $1,131.50 and as low as $1,117.50. The U.S. dollar index was slipping 0.07% to $80.49. Read it HERE.

Miners from Scottrade.com:
Currencies from Kitco.com:
Some present prices: FVITF 2.18; BYDDF 7.85; XDSL 0.0268; SNWT 0.16; DOW up 13 to 10414; Gold down 3.3o to 113.80; Silver down 0.07 to 16.22 (Silver Eagles about 18.70).

The precious metals serve well to preserve wealth in these turbulent financial times. Gold and silver have been real money since biblical times. They have stood the test of time and should stand well for us today.

If I did not know King Jesus and the fact that He is in control, it would be a scary time to live. However, with Him it is an exciting and wonderful time to bask in His love and loving care. It is a joy to serve Him every day of my life. Praise Him daily.

Best to each, Doug

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