The Gold Price Closed $19.20 Lower on Comex at $1,175.20
|Gold Price, $/oz.||1,202.90||1,175.20||-27.70||-2.3|
|Silver Price, $/oz.||16.221||15.635||0.586||-3.6|
|Dow in Gold $ (DIG$)||306.34||318.04||11.69||3.8|
|Dow in gold ounces||14.82||15.38||0.57||3.8|
|Dow in Silver ounces||1,098.96||1,156.41||57.44||5.2|
|US dollar index||97.53||97.10||-0.43||-0.4|
|3 Day Gold Price Chart|
|30 Day Gold Price Chart|
|5 Year Gold Price Chart|
|3 Day Silver Price Chart|
|30 Day Silver Price Chart|
|5 Year Silver Price Chart|
Y'all may think these theatrics are a big deal, but they're not. Clearly some deep-pocketed sellers came in, but this was all they could do. Y'all ought to have been around 12 April 2013 when the GOLD PRICE fell from $1,580 to $1,480 in one day, then next day fell to $1,367. I was numb for a week -- seven days, count 'em.
Possess your souls in patience! You have to pay a price for disbelieving a government lie, and there's never been a bigger lie hatched by any adder than central banking and fiat money. Reality is on our side.
Hard week for silver & gold prices, but don't let stocks crow too quickly or loud. Dollar appears broken.
By a gnat's eyebrow the S&P500 made a new high today, but lo, you couldn't hear for the touts a-crowin'. Nasdaq Comp yesterday finally exceeded by pennies and small change its 2000 peak of the dot com bubble. Fifteen years to recover doesn't sound like braggin' rights to me, but mercy! I live so fur back in the woods we have to order sunshine from Sears & Roebuck. What do I know? I'm jes' suspicious cause the Dow and other indices ain't movin' too fast to new highs.
Here's a trick topping markets play that will skewer the naïve. They're plumb bulls because they've gotten aboard late and ridden a ways, then the market plainly is peaking, but they can't believe it. The market makes one last dying spurt, exceeds old highs or resistance lines, and the naive pile in -- just in time to watch the market dive down a manhole. That's the reason for that "market must exceed old high by 3%" rule.
I tell y'all that because here as April's clock is ticking away & we are about to enter the Season of Death for stocks ("Sell in May & go away," sez the proverb), after a more than 6 year uptrend, stocks are not going to extend their uptrend another year, or six years. And I know it's flat frustrating to be sitting there in gold & silver taking a beating, but don't make the worst mistake of all, climbing off one market turning up (gold & silver) for another turning down (stocks).
|Dow in Silver|
|Dow in Gold|
Euro rose 0.45% to $1.0873 today, at last above its 20 DMA but beneath its 50 DMA still. In other words, it's a rally moving like that race between the tortoise and the snail.
Japanese yen rose 0.48% but remains rangebound at 84.05.
Y'all enjoy your weekend.
Aurum et argentum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
© 2015, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose.