GOLD could have bottomed, too, last Thursday at 654.10 (intraday, not closing). I can say the same for gold that I said for silver: if it has bottomed, it will climb the rest of the week. If not, it will close below 660 and silver will close below 1300.
The US DOLLAR INDEX closed today at 82.356, right at the December 2006 low, & is challenging the 50 DMA (82.47). Above stands resistance at 82.65 - 83.36, then nothing much until 84.38. Tomorrow the dollar should close above its 50 DMA and begin to run in the rally I've been expecting.
STOCKS had a confused day. The Dow dropped 13.35, the S&P500 rose 2.35, Nasdaq Comp rose, and the Nasdaq 100 rose. A big correction is coming, whether it ends this rally or not. While it is still possible, swap stocks for 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"
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.