Thoughts on Markets

Monday, March 28, 2011

Choose this day who you will serve - Possible correction & buying opportunity - Metals - Currencies - Miners

 The Lord confronted Joshua after Moses had died, and told him to take charge of the nation Israel and lead them to conquer the promised land. Over and over the Lord said to him, "Be strong and of good courage." We see that in Joshua 1:6, 7, 9, etc. The Lord encouraged Joshua with the words, "I will not leave you nor forsake you." Joshua 1:5 and other places. The Lord also, said for Joshua to follow the law which He gave to Moses (Joshua 1:7, 8, etc.). 

Obedience to the law of God was very important to God. It must also be important to us, as well. There is no way we can earn salvation by obedience to the law of God. We would always fail, because we are born with the sin nature we inherited from Adam. James warns, that we must be doers and not just hearers of the word and then in Chapter 2, verse 10 tells us,  "For whosoever shall keep the whole law, and yet offend in one point, he is guilty of all." Remember, there was only one perfect man and He was the God Man Jesus Christ. He was without sin, and none of us can honestly claim never to have sinned. So, each of us has the only way of being forgiven and reconciled with God the Father is through the sacrifice of Jesus Christ as He took upon Himself the sin of each and every one of His people. 

After being saved by the application of the blood of Christ upon us by the Holy Spirit, we are empowered to and given the desire to please King Jesus. Though not perfectly, we are called by the Holy Spirit to repentance each time we fail, and we do. We desire to please our King.

Every person is confronted in the same way as Joshua confronted the people of Israel, "And if it seem evil unto you to serve the LORD, choose you this day whom ye will serve; whether the gods which your fathers served that were on the other side of the flood, or the gods of the Amorites, in whose land ye dwell: but as for me and my house, we will serve the LORD." (Joshua 24:15) I pray that your answer under the power of the Holy Spirit is the same as Joshua's.  

Mine Web:
Gold imports skyrocket in Ahmedabad
While a Morgan Stanley research report shows that urban Indians seem to prefer property to gold over the long term, farmers in areas like Ahmedabad are investing heavily in the yellow metal. They know value when they see it. HERE.

Mine Web:
Bull run for gold may be nearing its end - China Central Bank
Western recovery will continue, but loose monetary policies will push commodity prices higher, while downside risk on gold is seen by China's Central Bank. Wonder it they are trying to hold the price down through rhetoric as they continue their purchases of the yellow metal. Here.

KitCo News:
A.M. Kitco Metals Roundup: Comex Gold Weaker as Bulls Fade a Bit Amid Firmer U.S. Dollar Index, Weaker Crude Oil Prices
28 March 2011, 08:03 a.m.
By Jim Wyckoff
- Comex gold futures prices are trading lower Monday morning on some profit-taking pressure from recent gains and amid a rebound in the U.S. dollar index and lower crude oil prices. The gold bulls have faded just a bit from a technical perspective as the market Monday morning is showing follow-through selling pressure from Friday's technically bearish weekly low close. Comex June gold last traded down $10.20 an ounce at $1,417.40. Spot gold last traded down $14.50 at $1,416.25. HERE.

The Street:
Gold, Silver Prices Plummet on Profit Taking
NEW YORK (TheStreet ) -- Gold and silver prices tumbled as investors weighed recent highs in the precious metals and looked to lock in profits ahead of the second quarter.  HERE.

Bloomberg:
Gold Declines on Rally to Record Price, Signs of Improving Economy in U.S.
Gold declined for a third day in New York as some investors sold the metal after its rally to a record and on signs the U.S. economy is improving. Silver, platinum and palladium also fell.
The U.S. economy grew at a 3.1 percent annual rate in the fourth quarter, revised up from a 2.8 percent estimate issued last month, data showed March 25. A Federal Reserve official said the central bank may scale back its monetary stimulus. Gold futures reached a record $1,448.60 an ounce on March 24 as fighting in Libya, the Japanese nuclear crisis and concerns about European debt boosted demand for a protection of wealth.Wonder how real the recovery is. HERE.


Mine Web:
Is silver heading for a correction?
Last week, silver reached its highest level since February 1980. For the past two years it has outpaced gold as the precious commodity to own, but is the price now set for a fall? I hope so, as I want more HL & FVITF. HERE.

Personal Liberty Digest:
Shots Across The Bow
March 28, 2011 by Bob Livingston
Shots Across The Bow There are many shots now being fired across the bow of the Federal Reserve.
The latest occurred in Utah where the governor has a bill on his desk that would allow shops to accept gold Buffalo and Eagle coins, and silver Eagle coins as legal tender. The bill also ends State taxes on the transfer of gold. We should be praying for many more states to join the fight to reestablish states right under the Constitution. Of course, these rights actually come from God, but were incorporated into the Constitution by our founding fathers. We were originally these, not the, United States of America. We need the states to interposition themselves between the very aggressive Federal Government and the citizens of the individual states. I am a Texan, not a Federal citizen slave. HERE.

Miners from Scottrade:

Currencies from KitCo:

Some Prices: FVITF 5.492 (I am a buyer below 5.30 - it hit 5.32 for a low early today) ); OLVRF 1.65; BULM 1.50; HHWW 0.79 (looks more like hype driven); DOW up 42+ to 12262.97; SPX up 4.62 to 1318.42; Gold down 19 to 1417.20; Silver down 0.43 to 36.89 (Folks, I am considering buying some more Canadian Trust (Gold & Silver), symbol CEF.

Best to each, Doug

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