Silver $ Gold Up - Bonds Down

Silver seems to be holding well. It is trading at a higher plateau. I still like the US Silver Eagles and Canadian Maple Leafs.

Folks, It seems that interest rates for bonds, particularly longer term bonds are rising. Central banks internationally have started raising the rates, too. This does not bode well for the market value of bonds. Remember that market price of existing bonds is inverse to the prevailing interest rates. Therefore, I am buying TBT and January 2011 calls on TBT. This is an ETF which is in effect a short on bonds and rises when bond prices are going lower. You should consider this carefully and weigh it well to determine if this is right for you. What I decide for myself is not always right for you.

Here is Ed Steer's opening comment on gold today in his Gold & Silver Daily: "Well, it was an interesting start to Far East trading on Monday morning... 6:00 p.m. Eastern time on Sunday evening. Both gold and silver gapped up... as the U.S. dollar gapped down. Gold's low of the day [around $1,104 spot] was at precisely 11:00 a.m. in Hong Kong trading... and from there, gold rose for the next six hours... gaining about eight bucks in the process. Then, about half an hour after the London open, gold basically traded sideways for the rest of the of the Monday session... including New York. There was a brief price spike that started once the London p.m. gold fix [3:00 p.m. in London/10:00 a.m. in New York] was in... but the U.S. bullion banks made short work of that moments after London closed for the day an hour later. That price spike proved to be the high of the day at $1,115.90 spot."

From Bloomberg.com:

Gold Imports by India Jump Before 1 Million Weddings

By Thomas Kutty Abraham

March 29 (Bloomberg) -- Gold imports by India, the world’s biggest consumer, jumped this month as jewelers stockpiled the metal to meet wedding-season demand, a trade group said. Read it HERE.

From Bloomberg.com:

China Gold Demand May Double Within Decade, WGC Says

By Kyoungwha Kim

March 29 (Bloomberg) -- Gold consumption in China may double within the next 10 years, boosting prices as supplies fail to keep pace with booming demand from investors and the jewelry industry, the World Gold Council said. Read it HERE.

From GATA.org:

CFTC whistleblower injured in London hit-and-run

London metals trader Andrew Maguire, who warned an investigator for the U.S. Commodity Futures Trading Commission in advance about a gold and silver market manipulation to be undertaken by traders for JPMorgan Chase in February and whose whistle blowing was publicized by GATA at Thursday's CFTC hearing on metals futures trading was injured along with his wife the next day when their car was struck by a hit-and-run driver in the London area. Read it HERE.

A follow up article from nypost.com:

JPMorgan 'chase' story in UK

A London-based precious-metals trader who had accused JPMorgan Chase of manipulating the gold and silver markets was involved in a bizarre weekend car accident that triggered a police chase before the suspect was nabbed.

Andrew Maguire, a metals trader at the London Bullion Market Association, and his wife were traveling in their car when a second car coming out of a side street struck their vehicle. That car then hit two more vehicles before fleeing.

London cops using helicopters and patrol cars chased the hit-and-run driver before nabbing that person, whose name has not been released by authorities. Read it HERE.

From GlobalResearch.ca:

Good-Bye: Truth Has Fallen and Taken Liberty With It

There was a time when the pen was mightier than the sword. That was a time when people believed in truth and regarded truth as an independent power and not as an auxiliary for government, class, race, ideological, personal, or financial interest.

Today Americans are ruled by propaganda. Americans have little regard for truth, little access to it, and little ability to recognize it.

Truth is an unwelcome entity. It is disturbing. It is off limits. Those who speak it run the risk of being branded “anti-American,” “anti-semite” or “conspiracy theorist.”

Truth is an inconvenience for government and for the interest groups whose campaign contributions control government.

Truth is an inconvenience for prosecutors who want convictions, not the discovery of innocence or guilt.

Truth is inconvenient for ideologues. Read the article HERE.

Miners from Scottrade.com:

Currencies from Kitco.com:

Some Prices: BYDDF 10.43 (Going Greatly); FVITF 2.58 (Down a bit, but still strong); TBT 49.82 (Up again today); UUP 23.90 (Up a bit today); DOW up 15 to 10910; Gold down 4.30 to 1104.70, and Silver down 0.07 to 17.28. Precious metals are down a bit now.

Let us give special attention to looking again to the saving work of Jesus Christ as He died on the Roman cross taking our sins upon Himself to satisfy the justice of His Father on our behalf. This coming Lord's Day to give a special emphasis to the resurrection of our Lord Jesus Christ after His death on the cross. Of course, we celebrate this fact of history every Lord's Day, but give it special emphasis on Easter.

Best to each, Doug