Thoughts on Markets

Thursday, July 08, 2010

Uncle wants to know when you purchase $600 of Precious Metals - Harmony Gold and Much More

The prices of precious metals are tempting me to buy more. We could see lower prices, but I wonder how much lower they will go. Too often, I have postponed purchases only to find that the prices increased rather than decreased. Of course, we should recognize that the prices are based upon the relative value of the unbacked paper currencies we use for purchases. Note the article about $600 purchases in the future should the legislation pass.

From The

"OK... Front and Center this morning, yesterday I told you, well, let's just go to the archives and see what I told you word for word... Pfennig 7/7/10: "Today, we'll see the latest labor report from Australia. In recent months, the jobs data has consistently surprised to the upside each month, so it's not like going out on a limb to say that I expect the job creation to be better than the +15,000 that's forecast."

Well... June employment in Australia showed an increase of 45,900 jobs (see above the forecast was for +15,000), So... Once again, Australia pushed the envelope on job creation. Australia now has more people in paid employment than at any other time in its history!

What's driving this job creation in Australia, when here in the U.S. we can't catch a break with job creation, except if you are one of those that like to count the census workers? Well, remember back in the 90's when the U.S. economy was cooking with gas, and they would say, "it's the economy stupid"... Well, we could twist that to say about Australia's job creation, "it's China stupid"... OK... I'm not calling anyone "stupid"... Maybe CPI, but that's not a "someone"!

Employment booming in Australia, but lagging greatly here. That is good news for "down under," but the worst news for us as our economy, according to news from the White House and media, "booms." Hey in Washington, wake up what kind of booming economy is there with some many folks out of work coupled with most new job being in government. After all, government produces nothing but waste. 


European gold buying still strong - Nicholas Brooks - Head: Research and Investment strategy - ETF Securities

This last week, even as the price of gold was falling quite sharply, we saw around $90 million flow into our gold ETCs'

Read & listen HERE


BIS gold swaps - Bulls and Bears fight out the implications

The gold swaps with the BIS have both bullish and bearish meanings for the price of the metal and some of these are set out below

Read HERE.


June U.S. gold coin sales fall compared with 2009; silver down on previous month

Sales of U.S. Mint gold bullion coins may be weakening with June sales slightly down on those of a year ago.

Read HERE.


Harmony Gold to sell Mount Magnet project for A$40 million

Gold major Harmony is to sell its Mount Magnet gold property, currently on care and maintenance, to Ramelius Resources
Posted:  Thursday , 08 Jul 2010
JOHANNESURG (Reuters) - 

Harmony Gold Mining (HARJ.J), the world's 5th-largest listed gold miner, said on Thursday it would sell its Mount Magnet project in Australia for A$40 million ($35 million) to focus on other ventures.

We should hope that this will be positive for Harmony. Such decisions often lead to better investments for the company involved. Read the article HERE


China and BIS hit gold when it's down - but nothing's really changed.

This is an interesting read which presents possible vested interest in the action. China may be seeking more gold and want it at lower prices. HERE


Race to Debase - Middle 2010

This is a site with precious metals for sale as what appear to be reasonable prices. The graphs on this site are really worth your time. You will have to pan down to find them. Please, do! Check it HERE.


$600 Sale? Get Ready for Tax Form

This is about new legislation that will require dealers to report all sales of precious metals in excess of $600 to Big Brother. More totalitarian power to the out of touch, unconstitutional Federal Government. HERE


Chris Whalen Paper Gold vs the Dollar?

Chris Whalen interviewed Jim Rickards for his IRA Newsletter. The discussion dealt with the fragility of the US dollar, and the possibility of the creation of a gold backed currency that could topple the US dollar as the world’s reserve currency. Here are some snippets from that interview: 

This is worth a good read HERE

The miners from

The Currencies from

Some prices: FVITF 1.9166; TLT 99.64; SSG 17; SDS 34.92; DOW up 78+ to 10094; Gold down 11.60 to 1191.60; Silver down 0.21 to 17.83.

Study the Bible in detail to honor its author: Jesus Christ, and to learn God's plan for His people and for those who are not to be His. There is none other through whom a person can be reconciled to God the Father. This is very important and is understood through eyes of the Holy Spirit by the grace of God.

Best to each, Doug


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