Wednesday, 9 April 2008

Gold consolidating again! Yawn! 2007-11-21

Wednesday 21st November 2007: 10.03pm

Gold appears to be in consolidation mode. What, again? It was in a consolidation from May 2006 until about 2 months ago when it sprang up like a mad March hare and took out a couple of all time records. Now it's back in con-sol-id-ation mode - oh *Y-A-W-N*!*

Just so little to write about. Free Market News Network today says that they had the scoop on the endorsement of Libertarian-Republican Presidential candidate Ron Paul by Barry Goldwater Jr. Another FMNN Scoop Confirmed: Goldwater Endorses Ron Paul and Barry Goldwater Jr. Endorses Ron Paul. My take: Ron's campaign is going dangerously well (dangerous for him, sadly).

Gold is trading water (I meant 'treading water') around $800 right now. I'm glad athat I sold a little at $830. I don't feel personally like buying any more or selling any more of my 'gold portfolio' at this point. Everything has been quiet on the credit markets, the giant cracks have been papered over again, after a string of strung out announcements of gigantic writedowns at various investment houses over the past few weeks. The US dollar has taken a breather after its recent plunge below the USD Index level of 80, going down to around the 75 level. Quite a drop below previous historic lows. So it's 'wait and see' time again right now. I've decided to spend some money on a music sampler (a classic Emulator III) and a lens or two for my Olympus OM film cameras and hope for some brief pleasure using these, because thinking about investing is boring me senseless right now.

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