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July 6, 2011 / Hal (GT)

Looking like another strong day for gold and silver.


It’s days like today that I really love to power up the computer and see the desktop widget graph spikes for gold and silver. It’s exciting really. Right now as I type gold is at $1,530.30 and silver is back above $36 at $36.17. The week is shaping upward nicely in a stair step pattern. We’ll see if this continues.

Here’s a great article on King World News that twitter Graham Jervissent me: Whistleblower Maguire – This Will Destroy Gold & Silver Shorts

Goldman Took Biggest Loan in Fed Program <- this is amazing. Astounding even. The insightful Jim Rickards twittered it today and put it best:

Biggest welfare queen at the Bailout prom? #GoldmanSachs

Ten reasons we are doomed to repeat 2008 <- ht to Peter Grandich and I agree.

How I use the CFTC cot data <- I’ve been a follower of Anna Coulling for a while now. I suggest you check out this video. She’s worth bookmarking in my opinion.

S.A gold miners plan to strike <- Wages issues.

Gold up 2% on week as Portugal catches “Eurozone plague”and U.S. debt ceiling ever closer <- this is apparently why gold is going up today. I don’t know about that. But it certainly won’t help to keep the metal down.

Beware The Whipsaw <- Turd Ferguson is someone I often find worth reading because he tries to remain balanced in his approach to the market.

This statement on Ed Steer’s Gold and Silver Daily is immensely telling about the amount of silver that the US Mint is going through:

If this keeps up, the U.S. Mint will go through 50,000 silver good delivery bars this year.  That’s about 20% more than all the silver mined in the U.S.A. in an entire year.

California Disinvestment Accelerates <- State rot that continue and will spread I think through the Union left un-medicated.

Lear Capital: Gold Rises on Schedule – Is $1800 Now in Summer Cards? <- Good analysis. I think David Engstrom is dead on about China.

China’s Inflation problems continue to be Bullish for Gold <- speaking of China and gold, here are some thoughts from Trader Dan.

The People Fiddle as the Country Burns <- all I can say to this is Amen!

Gold Surges On Reminder It Is The Only Currency Without Liability And Counterparty Risk <- You got that right.

The Fed As A Reverse Robin Hood

WHY DEBT WILL MAKE HOLDERS OF GOLD RICH part 1 <- worthwhile read.

 

 

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