Thoughts on Markets

Thursday, October 28, 2010

Metals Regaining as Dollar Slumps - Gold - Silver - HL - FVITF - DBA

Let us seek the Lord Jesus Christ while we each still have time. Then let us obey Him and enjoy Him forever. He is the one who can save our nation as we turn back to Him. He has said so in His word. 


From Kitco.com:

Gold Posting Solid Gains as U.S. Dollar Index Extends Losses
28 October 2010, 11:49 a.m.
By Jim Wyckoff  Read it HERE.

From Bloomberg.com:

JPMorgan, HSBC Accused of Manipulating Silver Futures
HSBC Holdings Plc and JPMorgan Chase & Co. were accused in an investor’s lawsuit of placing “spoof” trading orders to manipulate silver futures and options prices in violation of U.S. antitrust law.HERE.

The, above, graphs give very similar traces which is suspicious, to say the least. Are the manipulators still that active. I believe they are. However, both metals are rebounding. The dollar is continuing its drop in value in relation to the precious metals and most other major currencies.

A CEO of Hecla (HL) which is one of my core holdings reports through SeekingAlpha.com:

Hecla Mining CEO Discusses Q3 2010 Results - Earnings Call Transcript
Read it HERE.


Here again is my EverReady Bunny: FVITF Fortuna. It rebounds strongly after every drop.


The Miners from Scottrade.com:


The Currencies from Kitco.com Note that gold is up against all paper currencies:

Some Prices: FVITF 3.61; SILA 0.71; BULM 0.955; DBA 29.569 ( This will be very strong if the food shortages continue to mount); DOW off 19.90 to 11106; Gold up 18.30 to 1343.30; Silver up 0.40 to 23.96 (Pushing 24 again)

Best to each, Doug


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