Gold, Silver, & Miners Shining - Demand remains high. - Our Hypocrisy

Folks, 

As I was hearing the sermon yesterday about the Pharisees and their hypocrisy from Matthew Charter 23, I recalled a quote from John Blanchard from England, "The Word of God in print is all about the Word of God in person."

The quote is quite accurate and this is what the Pharisees failed to see as they sought to justify themselves by their performance before men. They sought the praise of men and had not the requisite fear of God which is the beginning of wisdom. They were performers and not believers, as are many of us. We must answer God's call to repentance for America to survive.

Bloomberg:
Obama's $3.7 Trillion Budget Sets Fight in Congress
President Barack Obama will send Congress a $3.7 trillion budget that would reduce deficits by $1.1 trillion over a decade, setting up a battle with Republicans who have already deemed the plan insufficient to reduce federal debt. Read the article with discernment. The reductions will be a pittance of $100 Billion per year, and will be made up primarily of tax increases. The spending cuts, if any, will be insignificant. This is simply more smoke and mirrors. HERE.

KitCo:
Market Nuggets: Currency Volatility, Mideast Concerns, Technicals Supporting Gold - Future Path's Lesh  There are several good nuggets regarding gold and silver. I suggest you scan all of them. HERE.

The Street:
Are Silver Prices Ready to Break Out?
NEW YORK (TheStreet ) -- Gold prices were looking for direction Monday while backwardation hit the silver market and prices ploughed higher. HERE.

Mine Web:
Gold to jump as India, China eye inflation
Analysts and traders in India maintain that continued growth in inflation in both China and India will bolster gold prices in the near to medium term. HERE.

Gold is showing more life today.  Currently up 8.40 to 1365.80. Here is KitCo's graph:

 Take a look at GLD which is a current proxy for gold:

Mine Web:
Canadian gold miners expected to come back strong in 2011
Analysts expect Canadian gold mining stocks to shrug off a recent pull back in prices and perform well in 2011 as economic uncertainty and central bank demand help support bullion. HERE.

Even the miners are shining this morning. It is early, but this is encouraging. This is happening even when the DOW is down about 35.

Currencies from KitCo:

Note that gold is up against all major unbacked paper currencies. I would think that the only thing holding the dollar up is a perception that it is a sound currency and that the world is accustomed to it. However, the Asians are beginning to shun it to an increasing extent. 

 

Some Prices: FVITF 4.33; BULM 0.95; OLVRF 1.4275; REMX 24.57; HHWW 0.95; DOW down 28 to 12245+; SPX down 0.54 to 1328.42; Gold up 6.30 to 1363.10, Silver up 0.67 to 30.58.

Best to each, Doug