The GOLD PRICE continues to march on, up 4.40 today. A brief breath-catching correction might take place at any time, and the SILVER PRICE non-confirmed gold today by dropping 6.5 cents. Perhaps 750 will present a small psychological hurdle, but not much. Any correction will be short & shallow. Better, far, far better would be to buy now and never think about any correction. Otherwise, y'all may miss the opportunity of the century. And if gold is a good buy, then silver is a much better one.
How many fairy tales have you read where the hero or heroine saved the day by looking through the ugly toadskin or beast-hide and recognizing the beauty hid beneath the integument? Lots, but very few where the beautiful woman or man turned out to be a toad inside (they write murder-ballads about those). Well, folks, if you can't look through the pretty numbers the stock market puts off, you're destined to be married to an investment toad for years and years, & that toad will clean out your pockets. That's why I keep pointing you to the Dow In Gold Dollars, which today stands at G$389.79 (18.856 oz), down sixty-eight percent (68%) from its August 1999 high at G$925.42 (44.767 oz). So much for new nominal Dow high.
The US Dollar Index rallied today about 25 basis points. Beware any sharp dollar rally that catches the shorts unawares and feeds on short covering. Silver, gold, and stocks are all riding on a weakening dollar, so if it strengthens they will have trouble.
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.