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I recommend checking out Robert Henley’s blogs to keep on economic matters. On June 28, 2013 he reported on the way gold and silver prices are being slammed….
“Both gold and silver have been slammed this week in an all out attempt to discourage investors. The modus operandi remains the same- unload a large position during thinly traded market hours when there are no buyers to keep the price in equilibrium. After that, the momentum traders (and their computer algorithms) kick in to send the price further down. Once again, the kings of the east are thanking central planners for providing a cheap price.”
He reported yesterday….
“In just 7 trading days, 580 tons of physical gold were purchased by eastern central banks. This represents about 25% of the entire annual global mine production. The East is busy protecting itself from the reckless acts of those in control of the western financial system. Ultimately there will be a showdown between the East and the West. In reality, the conflict is between righteousness and lawlessness and the Kingdom will prevail… As always.”
On June 20 he commented….
“Typically, Friday is the day the central planners force the price down in order to “paint” the technical charts into bear territory. Nonetheless the second half of this year will possibly be chaotic. Once again, the Chinese are smiling as they buy these metals at bargain prices… unbelievable!”
My comment:
With prices now below the cost of production, the mines will have to decide whether to shut down or to sell at a loss. (My recommendation would be to keep mining and start stockpiling their metal. It would not be long before we would see a severe shortage.) Prices don’t generally stay below the cost of production for very long. If you are looking to buy silver or gold, now is probably an advantageous time.
Certainly, China and India are enjoying these low prices. Their central banks alone purchased 25% of annual production just last week, and that does not include all the individuals in those countries nor all the other people who bought around the world.
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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