8:03 am (Hawaii) Added more DGP at 64.75, in and out of FAZ for a tiny loss. I got up around 6 am and wasn't out of bed until 7 or so. By then, the news about no news from Merkel and Sarkozy had sent FAZ from 56+ to 59+. I entered at 59.00 on the chance of a second bump up, but got out at 58.40.
Gold benefits from lingering uncertainty in the Eurozone. It also protects Americans who don't accept the inflation destruction of their dollars.
I'm still watching FAZ, which could give back half of that gain since Merkel-Sarkozy. 58 would be interesting. Currently at 58.11. No rushing.
DGP hanging at 64.78 with spot price above 1780, a nice gain today. The run might be done for the day. indices are rallying a bit off their lows.
Update 9:43 am (Hawaii) DGP and gold holding steady. DGP at 64.96 and spot gold is 1785, rising higher even as the indices rallied off their lows. Silver is above 40 at 40.07, as Brother Turd Ferguson predicted. He mentioned this morning that closing above 40.40 would be key, and he's still leaning toward 44 by Labor Day. That would be quite a run. Of course, AGQ has inched higher with silver, now at 212.70 (+2.1%). For now, I prefer DGP with Euro uncertainty in play, and more than likely there are buyers of gold in Euroland, as there were a few years back during that crisis.
Interesting to see Asia and Europe maintain or increase spot gold price so far this week regardless of price during US trading hours. The world market is unable to tell a lie when it comes to gold, and eventually, to silver.