Gold Price Close Today : 767.30
Gold Price Close Yesterday: 761.60
Change: $5.7 or 0.7%
Silver Price Close Today : 13.835
Silver Price Close Yesterday: 13.515
Change: 32 cents or 2.4%
The GOLD PRICE keeps on grinding higher and higher. On top of a US$5.70 gain today, the gold price closed nearly on its high. $800 is still possible early next week, although the rally is becoming more & more overbought. So? It can get more overbought still.
Today the SILVER PRICE finally knocked on the 1400 door after a 49 cent gain, but fell back to only 1383.50 (up 32 cents). Yet again silver failed to close above 1400. When it does at long last breach that wall, 'twill run hard. Tomorrow, perhaps? Soon, no doubt.
I still expect to see $800 - 825 gold & 1550 - 1600 silver before this rally ends.
The US DOLLAR INDEX made a fresh all-time low today, with ne'er a sign of turning round. First step would be to stretch to this week's 78.18 high, but how high that seems! Watch it! All currencies are volatile, & central banks can intervene at any time. Odds & politics favour a turnaround, even if technicals don't.
How long can the Nice Government Men on the Plunge Protection Team keep doing this -- bringing the Dow back 200 - 125 points to close nearly unchanged? Must be racking their nerves. The DOW IN GOLD DOLLARS dropped anther G$2.84 (0.137 oz), enough to scare the old low. The DiG$ is telling us that stocks have not by any means finished falling..
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.