Thoughts on Markets

Wednesday, May 18, 2011

Metals Rebounding a Bit - Closer look at HMY - Currencies - Miners

This is the day (another one granted to us) that the Lord has made, we will rejoice and be glad in it. Another joyful, happy day resting in the Lord, King Jesus. Praise Him daily for His many blessings including the financial crisis which is His call to repentance. 

Mine Web:
Indian investors turn to gold ETFs
While gold ETFs in the US and the UK experienced net redemptions in Q1 2011, the behaviour of investors in the world's largest consumer of gold was rather different. They are way ahead of our general public, and we need to catch up on our understanding of the real money: Gold and to a lessor extent Silver. HERE.

Mine Web:
Consumers should investigate before they invest in bullion and coins - FTC
If you're thinking about investing in bullion or bullion coins, the FTC says to research your options and get smart because "being uninformed can have serious consequences." I wonder if this is an effort to discourage citizens from investing in gold & Silver. Of course, the Chinese government is trying to encourage. Everyone should investigate every investment alternative before investing. Buyer Beware is always the watch word for each of us. Why did not the FTC apply this warning to every investment opportunity? HERE.

Mine Web:
Will gold and silver fall if U.S. and Eurozone interest rates rise
An examination of the likelihood of the U.S. Fed (or the Eurozone) raising interest rates and the possible effects on the gold and silver prices of different interest rate scenarios. I doubt that a rise in interest rates would stop the bull market in gold. Might nudge it temporarily, but the dollar is too weak and destined for greater weakness. HERE.

Mine Web:
Technical analysis: Commodities reaching a turning point, especially in gold terms
Looking through the gaze of fractal analysis, commodities are likely to come down from here, especially when measured in gold terms; the dollar is closer to a long-term bottom than a long-term top. HERE.

The Street:
Don't Buy the Dollar Rally Yet: Opinion
The following commentary comes from an independent investor or market observer as part of The Street's guest contributor program, which is separate from the company's news coverage. Contains a neat graph. HERE.

King World News:
Peter Schiff - Silver to Take Out $50, New Shorts are Suckers
With gold off the lows and silver trading higher, today King World News interviewed Peter Schiff CEO and Chief Global Strategist of Europacific Capital.  When asked about the pullback in gold Schiff remarked, “I think it’s a buying opportunity...I do believe the US economy is slowing down, in fact I think it’s going to slow a lot more than people realize.  But for that reason I think that quantitive easing will not end over the summer, in fact I think the Fed is going to step it up.  QE3 could be even bigger than QE2 and that’s very bullish for precious metals and very bearish for the dollar.” HERE.

Let's take a look at Harmony Gold (HMY). Yes, it is a South African miner, but it is stronger than most and a solid core holding for me. I wanted to get some more, but it has yet to meet my price.

Mining Stocks from Scottrade:

Currencies from Kit Co:

Some Prices: DOW up 16.43 to 12495.73; S&P up 5.44 to 1334.62; NASDAQ up 14.44 to 2797.65; Gold up 9.80 to 1496.80; Silver up1.28 to 35.19.

Best to each, Doug


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