It's the Jobs! - What recovery? - Gold & Silver Up a Bit - Miners Mixed - Precious Metals taking the place on Paper Money?
Folks,
The "recovery" is hung on the unemployment and lowered wages. Until this changes, one should expect only a rhetoric driven recovery. It is all in the naivety of the citizens and the sound bites of the politicians. Would that God would provide statesmen as in our days of founding.
Is gold to become more recognized as true money? Will silver take a lessor, but important role as a monetary metal, too? Both have been for centuries.
While we do want God to bless America, we should not ask for that until we repent and turn back to the one true God of most of our founding fathers. Most of what we see as problems are His call for the repentance of His people. Remember that He issued similar calls to His Old Testament Church, the Israelite Nation, and they as we are failing to truly humble ourselves before Him. The previous church, with the exception of His remnant of people was utterly destroyed in 70 AD as Christ came in the form of the Roman Army to raze the temple and nation. Let us fall on our knees before King Jesus, before He comes with vengeance upon America. Pray for true revival before that happens.
Reuters:
A year after Dodd-Frank, CFTC tackles manipulation
The Commodity Futures Trading Commission, which has been beset by delays as it carries out last year's Dodd-Frank financial reform law, on Thursday finalized five rules, including one that will give it more muscle to crack down on market manipulation and fraud. HERE.
Jobs barely rise, dousing hopes of revivalU.S. employment growth ground to a halt in June, with employers hiring the fewest number of workers in nine months, dousing hopes the economy would regain momentum in the second half of the year.
Nonfarm payrolls rose only 18,000, the weakest reading since September, the Labor Department said on Friday, well below economists' expectations for a 90,000 rise.Really a great recovery without jobs??? HERE.
Oil slides as payrolls data mauls recovery hopesOil slid on Friday in volatile trade after U.S. non-farm payrolls came in much weaker than expected, dashing the hopes of many investors who had positioned themselves for a strong number.
U.S. crude was down $1.70 at $96.97 a barrel. ICE Brent crude was down 62 cents at $117.97 a barrel by 1306 GMT after it fell to the day's low of $117.06. HERE.
Analysis: Gold stocks to outsparkle gold in post-QE2 worldGold's performance has eclipsed that of gold mining stocks this year, but gold equities now are likely to take the upper hand as the flow of cheap U.S. cash slows and miners boast juicy margins and good growth prospects.
Gold's status as a quasi-currency and safe haven has helped pushed the price of the metal up about 20 percent since the start of the year to above $1,520 an ounce, making it one of the top performing asset classes of 2011. HERE.
MineWeb:
Precious metals stocks ‘substantially undervalued'-BofA Merrill Lynch
Bank of America Merrill Lynch analysts have raised gold price forecasts, but have reduced the copper price forecast from $4.64 to $4.32 per pound for 2011. HERE.
India's MMTC to import 12% more gold, 30% more silver
The Indian government's largest trading arm is likely to hike shipments of gold in the year to March 2012 by 12% to 265 tonnes, with silver too getting a boost to around 1,500 tonnes. HERE.
Harmony halts Unisel ops after accident
Harmony Gold Mining said Friday it has suspended operations at its Unisel mine after a worker was killed in an accident. More trouble for one of my core holdings. HERE.
Best to each, Doug
The "recovery" is hung on the unemployment and lowered wages. Until this changes, one should expect only a rhetoric driven recovery. It is all in the naivety of the citizens and the sound bites of the politicians. Would that God would provide statesmen as in our days of founding.
Is gold to become more recognized as true money? Will silver take a lessor, but important role as a monetary metal, too? Both have been for centuries.
While we do want God to bless America, we should not ask for that until we repent and turn back to the one true God of most of our founding fathers. Most of what we see as problems are His call for the repentance of His people. Remember that He issued similar calls to His Old Testament Church, the Israelite Nation, and they as we are failing to truly humble ourselves before Him. The previous church, with the exception of His remnant of people was utterly destroyed in 70 AD as Christ came in the form of the Roman Army to raze the temple and nation. Let us fall on our knees before King Jesus, before He comes with vengeance upon America. Pray for true revival before that happens.
Reuters:
A year after Dodd-Frank, CFTC tackles manipulation
The Commodity Futures Trading Commission, which has been beset by delays as it carries out last year's Dodd-Frank financial reform law, on Thursday finalized five rules, including one that will give it more muscle to crack down on market manipulation and fraud. HERE.
Jobs barely rise, dousing hopes of revivalU.S. employment growth ground to a halt in June, with employers hiring the fewest number of workers in nine months, dousing hopes the economy would regain momentum in the second half of the year.
Nonfarm payrolls rose only 18,000, the weakest reading since September, the Labor Department said on Friday, well below economists' expectations for a 90,000 rise.Really a great recovery without jobs??? HERE.
Oil slides as payrolls data mauls recovery hopesOil slid on Friday in volatile trade after U.S. non-farm payrolls came in much weaker than expected, dashing the hopes of many investors who had positioned themselves for a strong number.
U.S. crude was down $1.70 at $96.97 a barrel. ICE Brent crude was down 62 cents at $117.97 a barrel by 1306 GMT after it fell to the day's low of $117.06. HERE.
Analysis: Gold stocks to outsparkle gold in post-QE2 worldGold's performance has eclipsed that of gold mining stocks this year, but gold equities now are likely to take the upper hand as the flow of cheap U.S. cash slows and miners boast juicy margins and good growth prospects.
Gold's status as a quasi-currency and safe haven has helped pushed the price of the metal up about 20 percent since the start of the year to above $1,520 an ounce, making it one of the top performing asset classes of 2011. HERE.
MineWeb:
Precious metals stocks ‘substantially undervalued'-BofA Merrill Lynch
Bank of America Merrill Lynch analysts have raised gold price forecasts, but have reduced the copper price forecast from $4.64 to $4.32 per pound for 2011. HERE.
India's MMTC to import 12% more gold, 30% more silver
The Indian government's largest trading arm is likely to hike shipments of gold in the year to March 2012 by 12% to 265 tonnes, with silver too getting a boost to around 1,500 tonnes. HERE.
Harmony halts Unisel ops after accident
Harmony Gold Mining said Friday it has suspended operations at its Unisel mine after a worker was killed in an accident. More trouble for one of my core holdings. HERE.
Miners from Scottrade:
Currencies from KitCo:
Some Prices: DOW down 137.55 to 12582.85; S&P down 17.78 to 1335.54; NASDAQ Doug 37.71 to 2834.72; Gold up 9.60 to 1542.30; Silver up 0.03 to 36.47.
posted by Doug @ 10:31 AM
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