October 20th Update

Gold specifically looks like it has turned into bearish territory, however I don’t trust it.  It is testing down currently.   Caution is advised, this could be a great time for some bargains.  We are all waiting on how the Greek economic drama will unfold.

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October 19th Update

Gold remains in bullish zone, while the rest of the market moves around their current levels.  Many have hopes that the G20 will be the kick this economy needs.

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October 13th Update

Free trade agreements with Colombia, Korea and Panama passed which might create jobs and exports. Several reports released overnight showed slowing exports, shrinking lending and less consumption. Copper stocks in China released for 2010 resulted in a bearish reaction with higher than originally expected supplies.  Gold is off with what I suspect is profit taking.  The fundamentals are still bullish for the yellow metal.  free trade agreements with Colombia, Korea and Panama.   Today’s Jobless Claims were better than expected seem to indicate that tomorrow’s final Unemployment numbers may continue the trend of positive results for the US.

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October 11th Update

With no concrete announcement of the emergency actions Europe appears to have lack of direction.  Greece will receive the next batch of loans enabling them to continue limping along. The market is cautious due to these uncertainties and holds to gold securely. Gold is maintaining its bullish posture. Silver following along like always.   Palladium is the biggest loser at this point.

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Bullion Update

GOLD:  165.00
SILVER: 31.99
Bullion has had tumultuous two weeks.  We have seen quantitative easing coming from the Bank of England. The US dollar has gained in strength.  The Greek and the Euro situation has everyone concerned if the dominoes will fall one after another.

This uncertainty has stabilized the precious metals marketplace and we have seen a run to metals as a safe haven once again.

It appears that we have found some floors since the last unwinding of equity and commodities market.  Are we ready for another ride up?

Who really knows in this economic market?  For this very reason, metals are a favorite of mine.

Today’s Jobless Claims were better than expected seem to indicate that tomorrow’s final Unemployment numbers may continue the trend of positive results for the US of late.  Lets hope and pray that we some economic stability return.

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