Makes you pretty philosophical, meditating on the DiG$, huh?
SILVER & GOLD didn't quite cooperate today, or perhaps I missed the correct resistance levels. Yesterday I was watching 1345 and 675 as correction lows. Today silver bottomed at 1316 and closed at 1332, gold dropped to 670.80 but closed at 674.90. Maybe I underestimated the strength of the reaction (weakness of metals)? Well, as support levels, that 1330 will do as well as 1345, and 674.90 is close enough to 675. However, if silver and gold did not find their feet today, silver will fall back to its 200 DMA at 1262, gold perhaps to its 200 DMA at 632. However, gold is less likely to fall that far, perhaps only to 667 or 640.
For the Gold/Silver Ratio any lengthy correction in gold implies a higher ratio.
Does all that cheer you up, gold & silver investors? Let it go. Markets go up, markets go down. Anybody who can't live with that ought to go to work at McDonald's, where the minimum wage only goes up (as long as Democrats are in power).
By the way, with metals dropping and stocks rising, now is a better time than every to swap stocks for silver and gold.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
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.