SILVER dropped more than gold today, right thru its 200 DMA (1291) to stop at 1286.6, an old stomping ground. During bull markets, any time you revisit the 200 DMA is usually a good time to buy.
GOLD remains stuck above 650, but remains also in a downward trending channel. We should see lower prices.
Lo, out of the stock dust riding, riding, came the bargain hunters, saddlebags stuffed with bucks. They saw their chance, they drew their bucks, they bought after last week's lows, they drove the Dow up 128 points, then the bears began shooting back. When the dust cleared, the smarty bargain hunters were all riddled with bullets, the bears had emptied their saddle bags, and the Dow had not only lost its 128 points but also closed down another 8.21 points.
Friends, the Dow is rolling over, & after it closes below 13,250, no honest guru will be able to deny it. Wait! What did I say? "Honest guru"? What is that? The Dow in Gold Dollars rose a little today, to G$423.79 (20.501 oz), nothing significant.
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.
