Gold Price Close Last Week : 663.00
Gold Price Close This Week: 674.20
Change: $11.20 or 1.7%
Silver Price Close Last Week : 1339
Silver Price Close This Week: 1369.4
Change: 30.40 cents or 2.3%
This week SILVER & GOLD PRICES vindicated themselves after a month-long correction, closing above 1345 & 667. However, this is not a done deal yet. Gold still must close over the old high at 686.50. Silver must battle its way through resistance at 1380, 1400 - 1425, and then close over 1484.60. Sounds impossible, unless you consider what we have seen already in this bull market. Gold could well reach $900 and silver $18 by the end of May, although that goal is looking more distant. The present rally must really turn on the heat to make that come true.
Investors ought always remember that no analyst can speak confidently about the future. We know what likelihoods are, but not outcomes. Right now silver could drop to 9.50 and silver to 525 and they would still remain within their uptrends. I think the likelihood is surpassingly small that might happen, but it exists still. Buy some silver & gold at these prices, but buy lots more on breakouts over 686.5 and 1459.
The US DOLLAR closed today at 82.677, against a 82.64 low last week and a December 82.35 low. If it cracks here it should drop at least to 82.35, maybe to 80.50. If the dollar holds here, then it will have built a floor from which it can launch a rally. My guess is it will do that.
STOCKS have established an uptrend after their horrifying March low. This week the Dow broke out above 12,300 to close over 12,500. There is much more upside left in stocks, perhaps another three months, even a high as high as the old high at 12,795.93. Yet, "It is a tale told by an idiot, full of sound & fury, signifying nothing." Two different things could happen, either dictating swapping stocks for silver & gold. The Dow could head into a long nosedive that goes below 6,000 ultimately, or, spurred by inflation, the Dow keeps rising but fails miserably to keep up with silver and gold. Eventually you will need only 100 oz silver or less, or 4 oz of gold or less, to buy the entire Dow. Either way, you'll be better served with silver & 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"
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.
