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June 9, 2011 / Hal (GT)

Gold and silver just past mid week.


Howdy all, what an interesting morning we’ve had for the markets. It would seem European Union is still the proverbial oyster attempting to figure out if the particulate matter stuck in it’s sensitive flesh can be expelled or turned into a pearl. Yeah. I’m talking of Greece. Of course, if the proverbial oyster can’t do either, it could become little more than a shell on the beach shore. Throw into the mix the jobs data which continues to disappoint, a FED that admits that it’s done all it can possibly do, and we have folk around the globe scratching their heads and wondering just what they can do to protect their nest eggs.

Well, the reaction this morning was for a sign of strength in the precious metals arena, but I wouldn’t call it a strong move. Just that the strength of gold and silver remains intact.

Glancing a few pixels over I see right now that the widget is reporting gold’s spot price at $1,543.10 and silver is at $37.43. Silver has had the best performance so far in terms of endurance today. It’ll be fun to keep an eye on it into this evening.

Here’s some interesting commodities thoughts: $15 loaf of bread, and more …

This short article on CaseyResearch is worth a read: Soros Sells Gold – Time to Be Contrarian

Waiting For The Bernank <- Good stuff.

Almost One-Quarter of All U.S. Home Mortgages “Under Water” <- Best invest in blow up beds and snorkels.

The Fed’s Inflation Play <- must read.

Will Market Manipulation Stop Gold and Silver from Rising? <- Also a must read.

Why Meredith Whitney Is Right <- Doesn’t look good. Hat tip to Future Shock on Twitter.

Found this video via Future Shock as well:

Hathaway Confirms Gold to Trade in the Five Digits <- Hathaway is a veteran of the market.

The Most Important Chart for Gold Investors <- Case Research looking at last gold bull run. Worth a look.

If you’re not following Peter Grandich’s blog, you should be. Here’s something he had to say today:

Gold and Silver – They’re both back where they belong – hated by most in the financial arena and media. A nice sideways to higher trading pattern for gold is just what the doctor ordered during the June to August period. But don’t be surprised to see us above $1,600 well before the first leafs change colors.

Little Scrap Silver Seen On Market After Run To $50 <- that’s pretty telling about the focus of people on Main Street.

America’s Fall From Top Spot

The biggest bias most Americans have, for obvious reasons, is believing the U.S. will always be on top.

Action! | Uncommon Wisdom Daily <- Volatility. Analysis of gold, worth a watch. Thought it interesting.

Us Hurtles Toward System Failure:

The American people, having been exposed to a powerful cost surge, futile compromises to address the USGovt budget deficits, profound mortgage fraud, a series of fixes without solution that are disguised elite banker redemptions, tremendous waste of over $2.5 trillion in various policy initiatives, exemption from Wall Street prosecution, chronic housing market decline, and phony economic statistics, are awakening to the reality of a systemic failure USEconomy, punctuated by a USTreasury Bond default.

The Coming Economic Hell For American Families <- ht to Peter Grandich.

Lear Capital review: Gold Rallies in the Ugly Face of Financial Markets

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