Gold Price Close Last Week : 668.00
Gold Price Close This Week: 673.0
Change: 5.00 or 0.7%
Silver Price Close Last Week : 1192.5
Silver Price Close This Week: 1206.3
Change: 13.80 cents or 1.2%
Boom! Did you hear Bush & Bernanke firing the Blarney Cannon today? Bush proposed to use the FHA to bail out subprime borrowers who can't make their mortgage payments, while in Jackson Hole (perfect place for him) Fed Commissar Bernanke promised the Fed would bail out somebody, anybody if the subprime mess began choking the economy. 'Twas not the content, but the intent of their Blarney Shot that floated stocks higher. The content was piddling, not enough to make much difference, but the intent was made plain: we will print as much money as necessary to keep things afloat.
Don't y'all get tired of this nonsense? Wouldn't you like to live under a just and reasonable, even sensible monetary system? Never mind.
Stocks have not yet seen their low. Use any rally to swap stocks for silver & gold. I've been thinking about the last 6 years I've been recommending that, & I believe it's the best recommendation I ever made. I'm making it still. Timing right now is perfect.
Why? Because SILVER and GOLD PRICES are making their first correction of the bull market, completing the correction begun in after the spring 2006 peak. That correction will end by November's end, and silver & gold will begin a rally that will tear the skin off your eyeballs.
Have they bottomed yet? Possible, yet a bit more likely is a lower low in the next two months. Am I sure enough of lower silver and gold prices that I wouldn't buy now? Not at all. Buy some silver & gold. If they drop, buy more.
If I am right that this is the bottom of the first corrective wave, this will be the best buy you ever made. On the upside, if gold closed over 720 & silver above 1500, buy. You'll know the bottom has passed.
The US Dollar has been wounded by the Blarney Cannon, but will recover to rally more, probably for 3 - 6 months. That offers you a chance to get out of any investment that pays dollars -- annuities, CDs, bonds, etc. Go.
Enjoy your weekend!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $1,250.00; silver's primary is up targeting 16:1 gold/silver ratio or $78.13; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.