Thoughts on Markets

Monday, November 01, 2010

Election Coming - Gold - Silver -FVITF - HMY - BULM - TLT - SILA

This promises to be a week of wild swings in almost all markets. There is the election in which many folks are looking to "kicking the bums out." Of course, they will be replaced by other bums. Too bad, that the Lord has chosen to punish us by denying us the benefit to honest, Christian statesmen. Like David, I wonder, "How long O' Lord?"

Justice Department to Protect Illegal Voters?

We have the election, the looming QE to lower the value of the dollar, the growing race to the bottom of currency values in the west, and saber rattling. Meanwhile, both China and India are booming and raising interest rates to slow inflation. We, of course, are on a course which will eventually produce inflation which is preferred to deflation. Some day, the Lord may let us turn back to free markets and stable currencies which generate true growth in economies rather than the fraudulent economies of today.

The Republicans have said this before. We should be skeptically hopeful this time. This from News:
Tuesday's Mid-Term Election to Bring Enormous Change: Gingrich
01 November 2010, 9:17 a.m.
By Daniela Cambone
Of Kitco News HERE.

New era for gold as trust in fiat currencies diminishes
Gold sentiment remains positive despite a recent setback with a new era in sight as trust in today's fiat currencies continues to diminish. HERE.

Gold gains despite IMF selling another 32 tonnes
The International Monetary Fund (IMF) has confirmed it sold another 32 tonnes of gold in September with Bangladesh being a major buyer. HERE.

Iran has multiplied gold reserves several times in past 2 years
In a comment at a conference in Tehran, Iran's Central Bank governor says the country has been building its gold reserves substantially. HERE.

'Fraudulent' silver trades? Have gold markets suffered in the same manner? 
With the CFTC effectively accusing some silver market players of fraudulent practices we ask has the same been happening with gold? HERE.
A.M. Kitco Metals Roundup: Comex Gold Firmer, Silver Pushes Above $25.00, on Weak U.S. Dollar
01 November 2010, 8:14 a.m.
By Jim Wyckoff
Of Kitco News HERE.
Some new information on a core holding: Harmony (HMY) from
Harmony Gold's steady improvement in performance Monday , 01 Nov 2010 Positioned to deliver
Harmony Gold Mining Company Limited (Harmony) today announced the company's results for the quarter ended 30 September 2010, all in line with previously provided guidance. HERE

Miners from
Currencies from
 Some Prices: FVITF 3.83 (WOW!); BULM 1.00; SILA 0.745 (Ouch!); TLT 99.99 (20+ yr Bonds down some); DOW up 106+ to 11225.43; SPX up 10+ to 1193.33; Gold off 7.20 to 1352.60; Silver off 0.05 to 24.70. Both precious metals are down a bit since I started writing this blog. The question in my mind is "Is this more capping which it appeared to be in the graphs or is it merely some profit taking.
Best to each, Doug 


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