Gold Price Close Today : 784.30
Gold Price Close Yesterday: 789.10
Change: -$5.10 or -0.6%
Silver Price Close Today : 14.267
Silver Price Close Yesterday: 14.365
Change: -10 cents or -0.7%
US Dollar Index: 76.74
Change: -0.13 or -0.2%
The GOLD PRICE gave up US$5.10 today, no surprise after yesterday, and no big shakes in the market. I've been thinking about a little correction here. The Fed might do something tomorrow to exaggerate that correction, but it will be over after a few days. Of course, if they lower interest rates another half percentage point, then their plan to hyperinflate the dollar will become plain to many more, sending the gold price higher still.
The SILVER PRICE, with the gold price, gave up ten cents today. The silver price is about to roar, but may get caught in a correction here. Keep still, keep waiting, and buy more silver.
My friend B.L., the Wild Technician, called me all excited this morning. He now thinks that the Gold/Silver ratio has one more rise, to 59 or so. If it reaches 58:1, every one of you with gold ought to swap it for silver. The Ratio is ready to make its third wave down, & this will carry it down so spectacularly that it will suck the breath even out of me, who expects great things already.
Markets grow quiet and demure as they wait for Helicopter Ben & his Feddites to throw their monkey wrench into the American economy. Did you ever ponder what a lunatic, arrogant assumption lies in a private corporation (the Fed) controlling the economic future of 250 million people? I mean of course, besides their doing it for astronomical profit corruptly gained? I have seven children, & while they were growing up it was everything their mother & I could do to control & guide them. I wouldn't begin to try controlling them today, when they're grown.
Now think about the unspeakable arrogance that credits eight or ten men with ability to know what's good for 250 million free men. Makes you want to spit, doesn't it? Leaves a puking bad taste in your mouth.
The US DOLLAR just grinds lower & lower & lower. Have the Nice Government Men lost their minds? Friends, the yankee government's policy since 1913 has been to decapitalise y'all by depreciating your dollars. How much longer are y'all going to stand still for it? Buy something, anything that has value.
STOCKS gave up a bit today, but speak still out of both sides of their mouth concerning the next move. Waiting for Bernanke. Sell stocks while you still can and buy 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.