26 July//Todays markets..
posted on
Jul 26, 2012 07:32AM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
At 7 EDT the EU and Asian mar5kets were green and the S&P 60 was green so it looks like a good opening for North American markets....
And this is just a feeling that I have that today we may get a good news release..
And I don't even have a hang over..
The commodities markets are undervalued by over 300% and ready to tear off into the next bull market if we can get a little more stability ..
The Greeks defaulting and the Spanish going the same way is not that much of a concern to the market these day,although it may still happen and is a real co0ncern,but it will not have the crashing shock effect and it first did.... and the markets have built in their demise....
If it doesn't happen that could be the spark we need ..and if it doesn't happen we will just ho hum along.//..not crash into the pits.
But continuing concerns about Spanish debt and the outlook for the European economy on a whole weighed on markets, ultimately capping gains. Crude oil for September delivery on the New York Mercantile Exchange swung to positive in the final moments of trading to end up 47 cents, or 0.5% at US$88.97. Bargain hunters entered the market late in the session as the euro gained traction against the U.S. dollar. Gold for August delivery on the Comex division of the New York Mercantile Exchange closed up 2%, or $31.90, at US$1,608.10 an ounce, climbing back above the $1,600 level for the first time in two weeks. Bullion also got a boost from weakness in the U.S. dollar against the euro. Some news reports had suggested the European Central Bank may create new money to fund operations for rescuing troubled countries in the euro zone, bolstering buying interest in the single currency. And gold is still over $1600.00US/OZ... So that is happiness and are just waiting for the PDG head shed to get it into gear...Going to be a good summer..starting yesterday...\ Portee