Gold breaks thru it’s almighty top!!

US$ got jammed up this morning to 74.125, up
36.7 points, just below its high of 74.205 (daily) the “bankers that where”
can’t seem to stay up with the dumping otherwise the

global buck would be sharply higher instead of bouncing close to its lifetime

bottom. Treasuries are being supported in the outer contracts but the short

termers are feeling the inflationary pressures. Petro Products can’t seem to

get out of their own way these days with Crude leading the energy market lower

by -$1.81 to $86.26. Gold, the world’s new currency, is again sharply higher

with the trade at $1,816.10 with a high so far at $1,819.90 making another

batch of new highs all during the summer doldrums’. Silver is like the energy

products, it can’t seem to gain the traction it needs to explode, but this Co.

believes the forces against the “currency of the people” will be overcome and

catch up to the 15 to 1 ratio constitutionally mandated ratio. When? Who really

knows, but we believe another major spike is due soon . Silvers trade stands at

$40.50 up 12.2 cents close to its high of $40.545 so far today. All

Grains/Softs/Meats/Paper Markets are feeling the weakness and are trading lower

as well. This is all a temporary thing in our view. Paper Markets are seeing

the dumping of IRA’s and 401k’s just to keep up with the losses in mortgages

from those that have lost jobs or are feeling the pinch caused by the hidden

tax called inflation (money creation). It won’t be long till fall comes into

play which is naturally a very bad time for stocks and the best time for Gold.

India is coming into its wedding season, so fattening up the wedding dowry will

be another inflection point for the buyers of Gold…Stay Strong!!

JB Slear

Fort Wealth Trading Co LLC.

866-443-0868 Ext 104


Fax: 817-764-2537

This entry was posted in Trading Notes. Bookmark the permalink.

Comments are closed.