The SILVER PRICE is lagging on this advance, & silver's chart doesn't look as bullish as gold's right now. It hit 1380 resistance on Thursday, with a high at 1383.5, but dropped to a 1320 low on Friday. Today it recovered 18.8 cents, to 1351.5, but it has been here before. It must pierce this level and move higher. Above 1380 the next resistance is 1406. On Thursday silver was also bouncing off a falling trendline from last spring's high. A move to 1400 would crash through that resistance. Like gold, silver is sitting on top of its support/resistance, and must move higher tomorrow or fall back. Interesting that on Friday the silver price just kissed off its 50 day moving average (13.22) and then today bounced up.
Yes, indicators for both metals are talking out of both sides of their mouths, but the trend is up. Keep on buying gold and silver.
STOCKS made another new high last week, at 12,673.68, but this came as no surprise. My 12,650 target for this move has now been exceeded, and the Dow could worm its way up as high as 13,000. "Could", I say, to leave the way open for possibilities. I don't expect that. Sometime this quarter, or this half at the most, stocks will turn back down and begin breaking more hearts.
At the Dow's new "high" last week the DOW IN GOLD DOLLARS wasn't even above G$400 (19.35 oz). At its closing G$398.81 (19.29 oz) it was 57% [sic] below its all time G$925.42 (44.77 oz). high posted in August 1999. This suggests, no, screams that y'all should swap stocks for silver & gold, before you forever miss your chance.
The US Dollar index made a low last Thursday at 84.40, then on Friday made roughly the same low, plainly pasting a double bottom onto the chart. No surprise, it rose today, and this week should head for the last high at 85.25 right smartly. Notice once again that what all the gurus know is so, ain't. Dollar & silver & gold are all rising at the same time. Silver & gold are now acting as completely independent alternative currencies.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
http://The-Moneychanger.com
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 $1,250.00; silver's primary is up targeting 16:1 gold/silver ratio or $78.13; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.
