Harmony Gold - Broad Market Topping?
Both precious metals are showing signs of wanting to move higher, but a force keeps them from sprinting ahead. Silver continues to lag behind gold, but should see a better day before too long.
There is an interesting new EFT for silver miners which began trading last week under the symbol SIL. I want to let the price settle down a bit before really looking into it. However, off hand it could be another good investment vehicle to replace some of the miners mutual funds.
From MineWeb.com:
Gold could hit $1,600/oz but silver, pgms will likely outperform
From HuffingtonPost.com:
Shadow Elite: Goldman Sachs - Fraud Is Not the Scandal
The last few "Shadow Elite" columns have examined the troubling expansion of executive powers in recent decades. The 2008 financial bailout delivered yet more unchecked authority to the executive branch. As Yale consitutional law expert Jack Balkin puts it, "the Treasury Secretary [took] over a sizable chunk of the nation's capital ... markets. Because [he] is effectively un-reviewable, he [had the power to] make sweetheart deals with .... firms .... that got us into this mess." This week, a look at the influence of the firm that critics say landed one of those so-called sweetheart deals, and now faces charges of fraud for some of its own dealings: Goldman Sachs. -Janine R. Wedel Read it HERE.
From MineWeb.com:
Hidden In The PPI Data Was The Largest Food Price Spike In 26 Years
Read the article and enjoy the great graph HERE.
From Telegraph.co.uk:
Escalating Greek default fears rock Europe's debt markets
With contagion spreading across Southern Europe, spreads on 10-year Greek bonds exploded to almost 600 basis points over German Bunds in panic trading, pushing borrowing costs close to 9pc. Rates on two-year debt rose to 10.6pc in a market gone mad. 
Some prices from early morning market opening: BYDDF 9.24; FVITF 2.52; EXGMF 2.6035; C 4.90; CZHC 0.13; Gold off 4.80 to 1136.50; Silver off 0.11 to 17.87; DOW off 22 to 11111.
Questionable market ahead. Is it really topping out here as many suspect? We will see as the activity is revealed to us. Use extreme caution in buying and be quick to sell to protect profit.
Study the market, recognize you risk tolerance, and make wise decisions for yourself. Remember that you are the one most interested in the success of your investments.
Do not neglect the gathering together of the saints on the Lord's Day. King Jesus requires that His people take advantage of the opportunity of joining in corporate worship. We are not to try it alone, because we need the support of other Christians and we should be supporting them, as well.
Best to each, Doug
There is an interesting new EFT for silver miners which began trading last week under the symbol SIL. I want to let the price settle down a bit before really looking into it. However, off hand it could be another good investment vehicle to replace some of the miners mutual funds.
From MineWeb.com:
Gold could hit $1,600/oz but silver, pgms will likely outperform
BMO Capital Markets Bart Melek says commodity prices are riding the global recovery wave with copper, platinum, silver met coal, and iron ore as his top picks.
Read the article HERE.From HuffingtonPost.com:
Shadow Elite: Goldman Sachs - Fraud Is Not the Scandal
The last few "Shadow Elite" columns have examined the troubling expansion of executive powers in recent decades. The 2008 financial bailout delivered yet more unchecked authority to the executive branch. As Yale consitutional law expert Jack Balkin puts it, "the Treasury Secretary [took] over a sizable chunk of the nation's capital ... markets. Because [he] is effectively un-reviewable, he [had the power to] make sweetheart deals with .... firms .... that got us into this mess." This week, a look at the influence of the firm that critics say landed one of those so-called sweetheart deals, and now faces charges of fraud for some of its own dealings: Goldman Sachs. -Janine R. Wedel Read it HERE.
From MineWeb.com:
Big gold strike for Harmony & Newcrest
color: rgb(0, 0, 153);">New drill results could see PNG's Golpu develop into one of the most significant copper-gold projects" in the country with a possible size potential of 13m ounces of gold and 6.5m tonnes of copperGood news for one of my core holdings Harmony. Read the article HERE.
Hidden In The PPI Data Was The Largest Food Price Spike In 26 Years
Read the article and enjoy the great graph HERE.
From Telegraph.co.uk:
Escalating Greek default fears rock Europe's debt markets
With contagion spreading across Southern Europe, spreads on 10-year Greek bonds exploded to almost 600 basis points over German Bunds in panic trading, pushing borrowing costs close to 9pc. Rates on two-year debt rose to 10.6pc in a market gone mad. “It is clear that the Greek situation is a very serious one,” said Dominique Strauss-Kahn, head of the International Monetary Fund. “There is no silver bullet to solve it in an easy manner.” Read the article HERE.
From the Daily Pfennig.com:
Chuck Butler pointed to an interesting video which gives the perspective of Obama budget cuts. View it HERE. You will then see how wimpish the proposed cuts are.
Miners from Scottrade.com:
Currencies from Kitco.com:
Some prices from early morning market opening: BYDDF 9.24; FVITF 2.52; EXGMF 2.6035; C 4.90; CZHC 0.13; Gold off 4.80 to 1136.50; Silver off 0.11 to 17.87; DOW off 22 to 11111.Questionable market ahead. Is it really topping out here as many suspect? We will see as the activity is revealed to us. Use extreme caution in buying and be quick to sell to protect profit.
Study the market, recognize you risk tolerance, and make wise decisions for yourself. Remember that you are the one most interested in the success of your investments.
Do not neglect the gathering together of the saints on the Lord's Day. King Jesus requires that His people take advantage of the opportunity of joining in corporate worship. We are not to try it alone, because we need the support of other Christians and we should be supporting them, as well.
Best to each, Doug
posted by Doug @ 7:52 AM
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