Gold Price Close Today : 782.20
Gold Price Close Last Friday: 824.00
Change: -41.80 or -5.1%
Silver Price Close Today : 13.963
Silver Price Close Last Friday: 14.715
Change: -75.20 cents or -5.1%
US Dollar Index Today: 76.170
US Dollar Index Last Friday: 75.044
Change: 1.126 or 1.5%
This week's big story is the US Dollar Index in the past three days. It has risen 112.6 basis points since last Friday. It appears the long awaited dollar rally has arrived. The buck will find it hard to pierce 80, but might even reach 82 - 83.5, roughly a 50% correction of the 92.63 - 74.48 drop.
In case you are thinking the dollar is recovering, pause to ponder a moment that nothing has changed. The dollar is the same piece of government-enforced piece of junk it always was. All of this exchange rate play is just a ploy to fool all of us. Truth is, down at the foundation, neither the dollar nor the euro nor the yen has any value at all. It's just a confidence game.
The GOLD PRICE took another big hit today, & touched its 50 DMA -- good, good, very good. Buying pressure in the physical market is huge, reflected in gold coin premiums. Seasonally, it's time for gold to bottom. Today it closed less than $10 off its last low. Bottom must be very, very close -- Monday? Tuesday? Buy gold, and keep on buying if it drops further. I expect it won't drop lower than $776, if that far.
If demand for gold is huge, demand for silver is colossal. Premium on US 90% silver coin rose 30%, from a 50 cent discount to a 35 cent discount. May not sound like much to you, but if you watch it daily, it's huge. Phones ringing off the wall, frenzied silver buying fever has gripped the American public. This is NOT the behavior of silver about to drop much further, but the way silver behaves when it is about to reverse.
I keep looking over my shoulder for a sudden spike in the Gold/Silver ratio, but with the ratio at 56 & refusing to rise, it will have to spike in the next week or not at all. If your position is too heavily weighted toward gold, swap gold for silver, targeting a ratio below 35:1. Re-weight your position as much as 70% silver, 30% gold.
STOCKS rose 390 points this week in a nearly vertical sharp rally typical of bear markets. Hordes begin to short stocks, then suddenly the index turns & they panic, driving up the price like crazy. Once they've covered their positions, buying power dries up & it drops again. If stocks float here a while & silver & gold remain low, you have an ideal opportunity to swap stocks for silver & gold. Do it now.
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.
Friday, November 30, 2007
Thursday, November 29, 2007
Silver & Gold are Finishing the Last Leg of their Correction
Gold Price Close Today : 795.30
Gold Price Close Yesterday: 800.3
Change: -5.0 or -0.6%
Silver Price Close Today : 14.237
Silver Price Close Yesterday: 14.329
Change: -9.8 cents or -0.7%
US Dollar Index Today: 75.65
US Dollar Index Yesterday: 75.12
Change: 0.52 or 0.7%
If I had to say -- and I don't, but I will, because I reckon I have no better sense -- I'd say SILVER & GOLD are finishing the last leg of their correction, & we'll see that bottom tomorrow or early next week. Seasonals point to that, as do prices. It's a 50/50 proposition in my mind whether either metal will make a new low at the bottom of this leg, new low being below 776 & 1400. Regardless, I would still be buying silver & gold.
One difference today was the weakness in the metals' aftermarkets. They have been rallying very strongly, but today fell from 795.30 to 792.60 & from 1427.3 to 1415.5. All you opportunists better buy while the buying's good.
Whoa! I opened a box today & found something I haven't seen in years: the exquisite 10 oz. silver bars minted by MTB in New York. The frosty device on mirror finish is the Statue of Liberty, full face. Roughly 2" wide & 4" long, 3/8" thick. Comes with assay certificate. Some may be darkened slightly or show small multicolored tarnish spots. I have only 40 of these 10 oz. silver bars for sale at US$154.25. Shipping is $10 for 1, $12 for 2, $15 for 3, and $20 for more than three. Sorry, no re-orders & quantity is strictly limited. Call (888) 218-9226 & leave a voice mail, please. Please mention goldprice.org when you call.
I want to be sure to tell y'all what great folks y'all are. Every time I meet one of you on the phone your friendliness & good spirits impress me. Course if they didn't, I'd just hang up on you. But I'm grateful I never have to, & grateful also for your kind encouragement. Thanks very much.
The US Dollar Index rallied 52 basis points today, which throws the presumption on the side of a rally. Crazily oversold dollar is set up for a short covering rally, which will hurt silver & gold briefly, but not long. Dollar still stinks, so remember this is only an inevitable dead-cat bounce, & not the beginning of a new life for the dollar. Feds have de facto devalued the buck, & slow burn will take it to 60 over next few years. Flee dollars!
Wow, that really twists your mind! How did a group of pencil-necked creeps get such control over the country that they can pick everybody's pockets at will? It ain't Federal, it has no Reserve, & it's only "system" is the systematic looting of you & me. I bet there's not a one of 'em can milk a cow or drive a nail or do a decent day's work.
STOCKS sure ran out of steam today, plump! Know how a rock looks when you throw it up in the air, it flattens out, then falls? Today was the flattening for stocks. Dow has built a big topping formation. It's going lower than a snake's belly at the bottom of a slough. Better swap stocks for silver & gold while you have time.
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.
Gold Price Close Yesterday: 800.3
Change: -5.0 or -0.6%
Silver Price Close Today : 14.237
Silver Price Close Yesterday: 14.329
Change: -9.8 cents or -0.7%
US Dollar Index Today: 75.65
US Dollar Index Yesterday: 75.12
Change: 0.52 or 0.7%
If I had to say -- and I don't, but I will, because I reckon I have no better sense -- I'd say SILVER & GOLD are finishing the last leg of their correction, & we'll see that bottom tomorrow or early next week. Seasonals point to that, as do prices. It's a 50/50 proposition in my mind whether either metal will make a new low at the bottom of this leg, new low being below 776 & 1400. Regardless, I would still be buying silver & gold.
One difference today was the weakness in the metals' aftermarkets. They have been rallying very strongly, but today fell from 795.30 to 792.60 & from 1427.3 to 1415.5. All you opportunists better buy while the buying's good.
Whoa! I opened a box today & found something I haven't seen in years: the exquisite 10 oz. silver bars minted by MTB in New York. The frosty device on mirror finish is the Statue of Liberty, full face. Roughly 2" wide & 4" long, 3/8" thick. Comes with assay certificate. Some may be darkened slightly or show small multicolored tarnish spots. I have only 40 of these 10 oz. silver bars for sale at US$154.25. Shipping is $10 for 1, $12 for 2, $15 for 3, and $20 for more than three. Sorry, no re-orders & quantity is strictly limited. Call (888) 218-9226 & leave a voice mail, please. Please mention goldprice.org when you call.
I want to be sure to tell y'all what great folks y'all are. Every time I meet one of you on the phone your friendliness & good spirits impress me. Course if they didn't, I'd just hang up on you. But I'm grateful I never have to, & grateful also for your kind encouragement. Thanks very much.
The US Dollar Index rallied 52 basis points today, which throws the presumption on the side of a rally. Crazily oversold dollar is set up for a short covering rally, which will hurt silver & gold briefly, but not long. Dollar still stinks, so remember this is only an inevitable dead-cat bounce, & not the beginning of a new life for the dollar. Feds have de facto devalued the buck, & slow burn will take it to 60 over next few years. Flee dollars!
Wow, that really twists your mind! How did a group of pencil-necked creeps get such control over the country that they can pick everybody's pockets at will? It ain't Federal, it has no Reserve, & it's only "system" is the systematic looting of you & me. I bet there's not a one of 'em can milk a cow or drive a nail or do a decent day's work.
STOCKS sure ran out of steam today, plump! Know how a rock looks when you throw it up in the air, it flattens out, then falls? Today was the flattening for stocks. Dow has built a big topping formation. It's going lower than a snake's belly at the bottom of a slough. Better swap stocks for silver & gold while you have time.
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.
Tuesday, November 27, 2007
This is Precisely the Time You Should be Buying Gold and Silver
Gold Price Close Today : 813.70
Gold Price Close Yesterday: 826.00
Change: -12.30 or -1.5%
Silver Price Close Today : 14.474
Silver Price Close Yesterday: 14.817
Change: -34.3 cents or -2.3%
US Dollar Index Today: 75.12
US Dollar Index Yesterday: 74.80
Change: 0.33 or 0.4%
Ahhh, yesterday I should have thought more about where Silver and Gold Prices were, for 'twas the top of an A-B-C correction, with yet one leg down. Truly, I don't think it will make that much difference whether you buy Silver yesterday, today, or 50 cents lower. We're in a Gold and Silver bull market, & that rising tide will raise your boat, too.
Anyway, I'm not convinced that this last leg down in Gold and Silver will even meet previous lows, much less exceed them. This is precisely the time you ought to be buying -- the last interlude forever below 1500 and 825.
Stocks jumped nearly 200 points today, but the damage has already been done, the Dow Theory primary sell signal has flashed, & it can't be taken back. "Primary sell signal" means "bear market has started." You still have time to swap stocks for silver & gold. Better do it.
A reader wrote me yesterday about a mutual fund he had that had returned 40% in the last 4 years. In the same period gold is up 2.08 times (up 108%) & silver up 2.77 times (up 177%). The contrast will only grow sharper in the next 10 years.
US DOLLAR rose today above 75, up 35 beeps. We ought always to be looking for a turnaround in the Dollar Index because the whole cosmos is so universally bearish on the dollar that a big contrary rally is bound to come, with tough short-term consequences for metals. "Twill be over soon, but could cause passing 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"
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.
Gold Price Close Yesterday: 826.00
Change: -12.30 or -1.5%
Silver Price Close Today : 14.474
Silver Price Close Yesterday: 14.817
Change: -34.3 cents or -2.3%
US Dollar Index Today: 75.12
US Dollar Index Yesterday: 74.80
Change: 0.33 or 0.4%
Ahhh, yesterday I should have thought more about where Silver and Gold Prices were, for 'twas the top of an A-B-C correction, with yet one leg down. Truly, I don't think it will make that much difference whether you buy Silver yesterday, today, or 50 cents lower. We're in a Gold and Silver bull market, & that rising tide will raise your boat, too.
Anyway, I'm not convinced that this last leg down in Gold and Silver will even meet previous lows, much less exceed them. This is precisely the time you ought to be buying -- the last interlude forever below 1500 and 825.
Stocks jumped nearly 200 points today, but the damage has already been done, the Dow Theory primary sell signal has flashed, & it can't be taken back. "Primary sell signal" means "bear market has started." You still have time to swap stocks for silver & gold. Better do it.
A reader wrote me yesterday about a mutual fund he had that had returned 40% in the last 4 years. In the same period gold is up 2.08 times (up 108%) & silver up 2.77 times (up 177%). The contrast will only grow sharper in the next 10 years.
US DOLLAR rose today above 75, up 35 beeps. We ought always to be looking for a turnaround in the Dollar Index because the whole cosmos is so universally bearish on the dollar that a big contrary rally is bound to come, with tough short-term consequences for metals. "Twill be over soon, but could cause passing 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"
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.
Monday, November 26, 2007
We Will Probably Never Again See gold Below $800 or Silver Below $14.50
Gold Price Close Today : 826.00
Gold Price Close Friday: 824
Change: 2 or 0.2%
Silver Price Close Today : 14.817
Silver Price Close Friday: 14.715
Change: 10.2 cents or 0.7%
US Dollar Index Today: 74.80
US Dollar Index Friday: 74.55
Change: -0.25 or -0.3%
Remember the proverb, "When the fat cats are away, the rats will play"? That often happens on market holidays, when the crowd is thin, & the floor traders "run the stops", taking the market much higher or lower than it had been, but without any meaning. As soon as the fat cats come back & resume positions, the holiday action fades, unless it was a genuine move.
Wednesday we went home to the GOLD PRICE at 797.60, and Friday it leapt to 824! so what? The Dow rose 181 points, too. "What" is that the Dow fell 237 points today, gainsaying the Friday surge, while the gold price closed up 2 bucks at US$826. Guess which shell the pea is under?
Friday's high gold price close took the Gold/Silver Ratio up to 56. Leaves the recent price action looking like failure along the downtrend line, i.e., failing to break out to the upside. That hints at silver beginning to outpace gold soon. (Yes, a gold/silver ratio close above 56 would overturn that conclusion.)
Friday's gold price close at 824, plus the follow-through higher close today, plus gold's upward straining in the aftermarket Tuesday & Wednesday leave me persuaded that gold bottomed last Monday, along with silver. Therefore, if you have been waiting to buy, stop waiting and buy silver & gold. We will probably never again see gold below 800 or silver below 14.50.
If any of you would like to purchase Mexican 2 or 2-1/2 pesos, I have a fairly large number in stock, $52.30 (0.0603 oz) & $42.00 (0.0482 oz.). Minimum order is 17 pieces of Mex 2-1/2s or 21 Mex 2s. (Please mention goldprice.org when you call.) Call toll free (888) 218-9226
There's no question in my mind that Bombasto Bernanke has de facto devalued the US Dollar. Today the buck is making (as usual) new lows, down 25 beeps from Friday to 74.8. My guess is that a slow erosion is planned, down to 60 or so. If you own annuities, pensions, bonds, mortgages, anything that entitles you to future dollars, swap them as soon as you can for silver & gold.
STOCKS look almost as sad as the US Dollar. The Dow fell 237 today to 12,743, while the S&P500 at 1,407 has nearly fallen through 1,400. More proof you must flee stocks for silver & gold: Today the Dow in Gold Dollars sank to its lowest price since the Aug. 2007 high at G$925.42 (44.767 oz) to close at G$318.92 (15.428 oz). I can find no bottom on that chart, although there must be one.
The Dow in Silver Ounces today fell to 861.63, its lowest point since May 2006 when it hit 777 ounces. From its June 2001 high the DiSOz has fallen 64.5%, while the DiG$ has fallen 65.6%.
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.
Gold Price Close Friday: 824
Change: 2 or 0.2%
Silver Price Close Today : 14.817
Silver Price Close Friday: 14.715
Change: 10.2 cents or 0.7%
US Dollar Index Today: 74.80
US Dollar Index Friday: 74.55
Change: -0.25 or -0.3%
Remember the proverb, "When the fat cats are away, the rats will play"? That often happens on market holidays, when the crowd is thin, & the floor traders "run the stops", taking the market much higher or lower than it had been, but without any meaning. As soon as the fat cats come back & resume positions, the holiday action fades, unless it was a genuine move.
Wednesday we went home to the GOLD PRICE at 797.60, and Friday it leapt to 824! so what? The Dow rose 181 points, too. "What" is that the Dow fell 237 points today, gainsaying the Friday surge, while the gold price closed up 2 bucks at US$826. Guess which shell the pea is under?
Friday's high gold price close took the Gold/Silver Ratio up to 56. Leaves the recent price action looking like failure along the downtrend line, i.e., failing to break out to the upside. That hints at silver beginning to outpace gold soon. (Yes, a gold/silver ratio close above 56 would overturn that conclusion.)
Friday's gold price close at 824, plus the follow-through higher close today, plus gold's upward straining in the aftermarket Tuesday & Wednesday leave me persuaded that gold bottomed last Monday, along with silver. Therefore, if you have been waiting to buy, stop waiting and buy silver & gold. We will probably never again see gold below 800 or silver below 14.50.
If any of you would like to purchase Mexican 2 or 2-1/2 pesos, I have a fairly large number in stock, $52.30 (0.0603 oz) & $42.00 (0.0482 oz.). Minimum order is 17 pieces of Mex 2-1/2s or 21 Mex 2s. (Please mention goldprice.org when you call.) Call toll free (888) 218-9226
There's no question in my mind that Bombasto Bernanke has de facto devalued the US Dollar. Today the buck is making (as usual) new lows, down 25 beeps from Friday to 74.8. My guess is that a slow erosion is planned, down to 60 or so. If you own annuities, pensions, bonds, mortgages, anything that entitles you to future dollars, swap them as soon as you can for silver & gold.
STOCKS look almost as sad as the US Dollar. The Dow fell 237 today to 12,743, while the S&P500 at 1,407 has nearly fallen through 1,400. More proof you must flee stocks for silver & gold: Today the Dow in Gold Dollars sank to its lowest price since the Aug. 2007 high at G$925.42 (44.767 oz) to close at G$318.92 (15.428 oz). I can find no bottom on that chart, although there must be one.
The Dow in Silver Ounces today fell to 861.63, its lowest point since May 2006 when it hit 777 ounces. From its June 2001 high the DiSOz has fallen 64.5%, while the DiG$ has fallen 65.6%.
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.
Wednesday, November 21, 2007
Lagging Silver Price Hints that this Gold Rally Has a Much Longer Course to Run
Gold Price Close Today : 797.60
Gold Price Close Yesterday: 790.3
Change: 7.3 or 0.9%
Silver Price Close Today : 14.400
Silver Price Close Yesterday: 14.478
Change: -7.8 cents or -0.5%
US Dollar Index Today: 74.96
US Dollar Index Yesterday: 75.11
Change: -0.15 or -0.2%
The GOLD PRICE closed today up $7.30 at $797.60 but rose another four dollars in the aftermarket. These repeated rises in the aftermarket are not usual, & signal strength. We may have seen the seasonal gold low on Monday, although it's possible a lower low will be made between now and 2 Dec. Either way, within a couple of weeks the correction will have ended & the gold rally resumed. Get gold, & get out of the way!
The SILVER PRICE continues to lag gold, as the ratio at 55.42 shows. Is this a bad thing? No, it reflects (1) silver's relatively greater weakness in times of financial panic, such as we have now, & (2) silver's tendency to lag gold in the first half or so of advances. Thus lagging silver hints that this gold rally has a much, much longer course to run. Buy both silver & gold. Spend 70% of new money on silver, 30% on gold. If the Gold/silver ratio reaches 58, trade gold for silver.
If y'all haven't cast your eyes on charts of those mortgage-making machines, Fannie Mae & Freddie Mac lately, go to StockCharts.com, & enter "FRE" & then "FNM" in the "Symbol" box. While you're at it, enter "CFC" & take a look at Countrywide Financial, nation's used-to-be largest mortgage originator. Lo! How are the mighty fallen! FNM & FRE look like they've fallen off a cliff in the last 2 months, and CFC fell off its cliff in April. Before y'all's eyes is played out the real estate & subprime crisis. Nor has it ended -- next year thousands of adjustable rate mortgages will be ratcheted upwards. Let the foreclosures begin!
Bernanke never said it, and thus fooled all of us who neglected to keep foremost in our minds that all fiat currency exchange rates are manipulated. He never said the "D" word -- devaluation. Still, that's exactly what he's done, devalued the dollar. More accurately, I should say begun the devaluation. No telling what the eventual target will be, but 60 is a good guess. This will be a "slow burn", gradually eating away the dollar's value with miffy little rallies that won't mean anything. Dollar index today fell another 15 beeps to close at 74.960. Y'all had better get out of dollars & dollar-paying investments while there's still time -- & a little bit of value left. Get silver & gold, get Cadillacs, get land, but get out of dollars.
Today settled all controversies in the stock market. The Dow Jones Industrial Average closed below August's low, 12,846, to give a Dow Theory signal that a bear market has started. Argue with it if you want, but you'll be found wrong in the end. 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"
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.
Gold Price Close Yesterday: 790.3
Change: 7.3 or 0.9%
Silver Price Close Today : 14.400
Silver Price Close Yesterday: 14.478
Change: -7.8 cents or -0.5%
US Dollar Index Today: 74.96
US Dollar Index Yesterday: 75.11
Change: -0.15 or -0.2%
The GOLD PRICE closed today up $7.30 at $797.60 but rose another four dollars in the aftermarket. These repeated rises in the aftermarket are not usual, & signal strength. We may have seen the seasonal gold low on Monday, although it's possible a lower low will be made between now and 2 Dec. Either way, within a couple of weeks the correction will have ended & the gold rally resumed. Get gold, & get out of the way!
The SILVER PRICE continues to lag gold, as the ratio at 55.42 shows. Is this a bad thing? No, it reflects (1) silver's relatively greater weakness in times of financial panic, such as we have now, & (2) silver's tendency to lag gold in the first half or so of advances. Thus lagging silver hints that this gold rally has a much, much longer course to run. Buy both silver & gold. Spend 70% of new money on silver, 30% on gold. If the Gold/silver ratio reaches 58, trade gold for silver.
If y'all haven't cast your eyes on charts of those mortgage-making machines, Fannie Mae & Freddie Mac lately, go to StockCharts.com, & enter "FRE" & then "FNM" in the "Symbol" box. While you're at it, enter "CFC" & take a look at Countrywide Financial, nation's used-to-be largest mortgage originator. Lo! How are the mighty fallen! FNM & FRE look like they've fallen off a cliff in the last 2 months, and CFC fell off its cliff in April. Before y'all's eyes is played out the real estate & subprime crisis. Nor has it ended -- next year thousands of adjustable rate mortgages will be ratcheted upwards. Let the foreclosures begin!
Bernanke never said it, and thus fooled all of us who neglected to keep foremost in our minds that all fiat currency exchange rates are manipulated. He never said the "D" word -- devaluation. Still, that's exactly what he's done, devalued the dollar. More accurately, I should say begun the devaluation. No telling what the eventual target will be, but 60 is a good guess. This will be a "slow burn", gradually eating away the dollar's value with miffy little rallies that won't mean anything. Dollar index today fell another 15 beeps to close at 74.960. Y'all had better get out of dollars & dollar-paying investments while there's still time -- & a little bit of value left. Get silver & gold, get Cadillacs, get land, but get out of dollars.
Today settled all controversies in the stock market. The Dow Jones Industrial Average closed below August's low, 12,846, to give a Dow Theory signal that a bear market has started. Argue with it if you want, but you'll be found wrong in the end. 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"
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.
Tuesday, November 20, 2007
Buy Gold and Silver Now - I Wouldn't Get Cute Right Here Waiting For The Lows in Silver and Gold
Gold Price Close Today : 790.30
Gold Price Close Yesterday: 776.8
Change: 13.5 or 1.7%
Silver Price Close Today : 14.478
Silver Price Close Yesterday: 14.136
Change: 34.2 cents or 2.4%
US Dollar Index Today: 75.11
US Dollar Index Yesterday: 75.77
Change: -0.66 or -0.9%
About 14:30 today some mysterious power began buying stocks, right when the Dow was around 12,839, 7 points below the August low. Stocks then rallied smartly to close at 13,010.14. That might have been the low for the move. In any event, swap stocks for silver & gold.
The US DOLLAR INDEX spent all day trying to break through 75.40, without success, dropped to 75.20 & trod water for 2 hours, then dropped down to its present 75.112, down 67.4 beeps for the day.
Not inattentive, gold watched the buck & rose an astounding $14 in the aftermarket, from $790.80 to $804, but has since backed off to $801.80. Silver closed the day at $14.478 but rose to $14.70.
Looking at the silver chart, yesterday's lows bounced off the bottom of the trading channel, steep as it is. When markets get very jumpy, spooking at anything, it's best to remain humble & hope. Sure, silver & gold could drop further, to some technical target like the 50 day moving average (now 1386), but maybe we've seen the bottom already.
The gold price basically rose all day long, then really became jumpy after the 13:30 EST close. Somebody is scared about financial risk, about market risk, about systemic risk. Demand (pictured for us in the premiums on physical gold & silver coins) remains stronger than a garlic milkshake.
I wouldn't get cute right here, waiting for silver & gold to make THE lows. I would just buy.
We will be closed on Friday, Nov. 23 as part of our Thanksgiving observance. We will return to the office on Monday, November 26.
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.
Gold Price Close Yesterday: 776.8
Change: 13.5 or 1.7%
Silver Price Close Today : 14.478
Silver Price Close Yesterday: 14.136
Change: 34.2 cents or 2.4%
US Dollar Index Today: 75.11
US Dollar Index Yesterday: 75.77
Change: -0.66 or -0.9%
About 14:30 today some mysterious power began buying stocks, right when the Dow was around 12,839, 7 points below the August low. Stocks then rallied smartly to close at 13,010.14. That might have been the low for the move. In any event, swap stocks for silver & gold.
The US DOLLAR INDEX spent all day trying to break through 75.40, without success, dropped to 75.20 & trod water for 2 hours, then dropped down to its present 75.112, down 67.4 beeps for the day.
Not inattentive, gold watched the buck & rose an astounding $14 in the aftermarket, from $790.80 to $804, but has since backed off to $801.80. Silver closed the day at $14.478 but rose to $14.70.
Looking at the silver chart, yesterday's lows bounced off the bottom of the trading channel, steep as it is. When markets get very jumpy, spooking at anything, it's best to remain humble & hope. Sure, silver & gold could drop further, to some technical target like the 50 day moving average (now 1386), but maybe we've seen the bottom already.
The gold price basically rose all day long, then really became jumpy after the 13:30 EST close. Somebody is scared about financial risk, about market risk, about systemic risk. Demand (pictured for us in the premiums on physical gold & silver coins) remains stronger than a garlic milkshake.
I wouldn't get cute right here, waiting for silver & gold to make THE lows. I would just buy.
We will be closed on Friday, Nov. 23 as part of our Thanksgiving observance. We will return to the office on Monday, November 26.
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.
Monday, November 19, 2007
Look for Silver and Gold Prices to Make Their Low This Week or Early Next Week
Gold Price Close Today : 776.80
Gold Price Close Friday: 785.9
Change: -8.9 or -1.1%
Silver Price Close Today : 14.136
Silver Price Close Friday: 14.483
Change: -34.7 cents or -2.4%
US Dollar Index Today: 75.77
US Dollar Index Friday: 75.85
Change: -0.08 or -0.1%
Just to illustrate how many factors build the gold price, today the US Dollar Index sank, along with the Dow, the S&P500, and gold & silver.
Obviously I have been overoptimistic, as both SILVER and GOLD PRICES showed today. Will I now ride my pendulum the other way? Nope, this roughly $780 level is about the low I expected from gold, and about $14 from silver. Low today was $14.09. My friend the Super-Technician BL called me today with the conclusion silver might reach $13.50 or even $13.25. Possible. I hope so, cause I will buy with both hands & my lips.
Whatever happens, look for silver and gold prices to make their low this week (most likely) or early next week. From there they will begin a VERY strong rally. It would be odd if the low came later than 2 December.
Over the weekend at the OPEC conference somebody left a mike turned
on and it caught Hugo Chavez & Saudi Arabia's rep speaking. The Saudi asked what they would do if the dollar collapsed? Now if that mike had been left on for George Bush, I could buy it, but Hugo Chavez is cleverer than that. Somebody is sending Washington a strong message. Iran's Ahmadinejad made a speech calling for OPEC to stop losing money by shifting from dollar-pricing to euro-pricing.
The US DOLLAR INDEX was only funning us about rallying. This losing seven or ten points a day couldn't inspire confidence in a Secretary of the Treasury. Sorry. This will end in tears.
Today the Dow traded as low as 12,937.63, not much more than a whisker from the August low 12,846. Keep watching, remembering that a close below that August low will give a primary Dow Theory signal that the Dow has made a primary turn down.
Tomorrow would be a likely day for the Nice Government Men to climb up
off their office couches & rally the market by buying S&P500 futures heavily. Look for it. Meantime, 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"
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.
Gold Price Close Friday: 785.9
Change: -8.9 or -1.1%
Silver Price Close Today : 14.136
Silver Price Close Friday: 14.483
Change: -34.7 cents or -2.4%
US Dollar Index Today: 75.77
US Dollar Index Friday: 75.85
Change: -0.08 or -0.1%
Just to illustrate how many factors build the gold price, today the US Dollar Index sank, along with the Dow, the S&P500, and gold & silver.
Obviously I have been overoptimistic, as both SILVER and GOLD PRICES showed today. Will I now ride my pendulum the other way? Nope, this roughly $780 level is about the low I expected from gold, and about $14 from silver. Low today was $14.09. My friend the Super-Technician BL called me today with the conclusion silver might reach $13.50 or even $13.25. Possible. I hope so, cause I will buy with both hands & my lips.
Whatever happens, look for silver and gold prices to make their low this week (most likely) or early next week. From there they will begin a VERY strong rally. It would be odd if the low came later than 2 December.
Over the weekend at the OPEC conference somebody left a mike turned
on and it caught Hugo Chavez & Saudi Arabia's rep speaking. The Saudi asked what they would do if the dollar collapsed? Now if that mike had been left on for George Bush, I could buy it, but Hugo Chavez is cleverer than that. Somebody is sending Washington a strong message. Iran's Ahmadinejad made a speech calling for OPEC to stop losing money by shifting from dollar-pricing to euro-pricing.
The US DOLLAR INDEX was only funning us about rallying. This losing seven or ten points a day couldn't inspire confidence in a Secretary of the Treasury. Sorry. This will end in tears.
Today the Dow traded as low as 12,937.63, not much more than a whisker from the August low 12,846. Keep watching, remembering that a close below that August low will give a primary Dow Theory signal that the Dow has made a primary turn down.
Tomorrow would be a likely day for the Nice Government Men to climb up
off their office couches & rally the market by buying S&P500 futures heavily. Look for it. Meantime, 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"
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.
Friday, November 16, 2007
Once This Correction Ends Silver & Gold Will Never Drop Below $16 and $850 Again
Gold Price Close Today : 785.90
Gold Price Close 9th of November: 832.50
Change: -46.80 or -5.6%
Silver Price Close Today : 14.483
Silver Price Close 9th of November: 15.499
Change: -101.60 cents or -6.6%
US Dollar Index Today: 75.850
US Dollar Index 9th of November: 75.387
Change: 0.463 or 0.6%
Listen! 'Tis the sound of Wall Street crying, weeping for her children -- & their billions.
SILVER & GOLD PRICES put in a schizo-phrenic week -- no, manic - depressive, up one minute, down the next, frantic. Not since Y2K have we seen so many buyers.
Early next week will see the correction lows. They may drop lower than the $14.27 and $783 we've seen, but maybe not. I look for those lows by Wednesday. Every one of you ought to be buying with both hands right now, because once this correction ends, silver & gold will never drop below $16 and $850 again.
Yes, I know that makes me sound like a madman, but some deep current in the economy & markets is driving silver & gold prices, & it makes me very uneasy. I don't think the subprime crisis & real estate crisis will stop at $150 billion (as Bernanke blusters). No, I think it's already around a Trillion bucks, & growing all the time. 'Twill significantly drag the economy. That explains also why Ben B. hath such a hurry to devalue the dollar, & make debts easier to pay & smaller. To cure the crisis they themselves caused, they will now pick your pocket to make good their losses.
Ahhh, Americans, you are worse, more cowardly than medieval serfs. Had their lords treated them half as arrogantly as your lords treat you, they would have tossed them on pitchforks & decorated the city gates with their heads. Y'all just sigh, roll your eyes heavenward, & take it, bless your supine souls.
The US DOLLAR INDEX put in what I can only term a sorry performance this week. In one day it jumped 65 beeps, then spent the rest of the week giving back those gains. Looks like a drunk on the verge of passing out in the gutter. I keep thinking some rally must come, but it never does. The implication of the Fed & US Gov't. taking the policy decision to let the dollar fall literally makes me tremble -- not for myself, but for all you dollar holders. Swap them for silver & gold as quick as you can, along with all investments that oblige someone to pay you dollars in the future.
Behold! The Nice Government Men played Hob with stocks this week, desperate to keep the Dow from closing below the August low at 12,845.78. Why? Because with the crashing Dow Transport Avg. that would send a primary Dow Theory down signal. Swap stocks for silver & gold while there's still time.
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.
Gold Price Close 9th of November: 832.50
Change: -46.80 or -5.6%
Silver Price Close Today : 14.483
Silver Price Close 9th of November: 15.499
Change: -101.60 cents or -6.6%
US Dollar Index Today: 75.850
US Dollar Index 9th of November: 75.387
Change: 0.463 or 0.6%
Listen! 'Tis the sound of Wall Street crying, weeping for her children -- & their billions.
SILVER & GOLD PRICES put in a schizo-phrenic week -- no, manic - depressive, up one minute, down the next, frantic. Not since Y2K have we seen so many buyers.
Early next week will see the correction lows. They may drop lower than the $14.27 and $783 we've seen, but maybe not. I look for those lows by Wednesday. Every one of you ought to be buying with both hands right now, because once this correction ends, silver & gold will never drop below $16 and $850 again.
Yes, I know that makes me sound like a madman, but some deep current in the economy & markets is driving silver & gold prices, & it makes me very uneasy. I don't think the subprime crisis & real estate crisis will stop at $150 billion (as Bernanke blusters). No, I think it's already around a Trillion bucks, & growing all the time. 'Twill significantly drag the economy. That explains also why Ben B. hath such a hurry to devalue the dollar, & make debts easier to pay & smaller. To cure the crisis they themselves caused, they will now pick your pocket to make good their losses.
Ahhh, Americans, you are worse, more cowardly than medieval serfs. Had their lords treated them half as arrogantly as your lords treat you, they would have tossed them on pitchforks & decorated the city gates with their heads. Y'all just sigh, roll your eyes heavenward, & take it, bless your supine souls.
The US DOLLAR INDEX put in what I can only term a sorry performance this week. In one day it jumped 65 beeps, then spent the rest of the week giving back those gains. Looks like a drunk on the verge of passing out in the gutter. I keep thinking some rally must come, but it never does. The implication of the Fed & US Gov't. taking the policy decision to let the dollar fall literally makes me tremble -- not for myself, but for all you dollar holders. Swap them for silver & gold as quick as you can, along with all investments that oblige someone to pay you dollars in the future.
Behold! The Nice Government Men played Hob with stocks this week, desperate to keep the Dow from closing below the August low at 12,845.78. Why? Because with the crashing Dow Transport Avg. that would send a primary Dow Theory down signal. Swap stocks for silver & gold while there's still time.
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.
Thursday, November 15, 2007
Buy Silver & Gold Now Don't Delay
Gold Price Close Today : 785.90
Gold Price Close Yesterday: 813
Change: -27.10 or -3.3%
Silver Price Close Today : 14.452
Silver Price Yesterday: 15.029
Change: -57.7 cents or -3.8%
US Dollar Index Today: 76.05
US Dollar Index Yesterday: 75.83
Change: 0.22 or 0.3%
It's really a bit simpleminded to grab one little fact & tout that as the cause for events influenced by a dizzying number of factors.
So the dance between the GOLD PRICE & the US DOLLAR INDEX. The simplistic explanation for gold's drop today is that the US Dollar index rose 22 basis points ("beeps") to close at 76.049. Yet a broader & more perceptive mind would note that the $ Index has broken down out of a 36 year range while gold is trading in the $780 - $850 range, & conclude 'twas not the dollar's demise alone driving this, but much deeper economic & monetary illnesses.
In any event, gold & silver prices were more than ready for a decline, so the dollar's rally is either coincident, or the result of other factors influencing gold.
The GOLD PRICE dropped $27.10 today to close at $785.90. The SILVER PRICE dropped 57.70 cents to close at $14.452. This was that third leg of the down-up-down correction I feared yesterday.
Lows for the day were $782.10 & $14.30. That's a new low for gold, but not as low as the $14.27 mark silver hit on the first drop. I still believe that $780 & $14 will prove the correction's bottom. Buy silver & gold, don't delay. Now.
The DOW JONES INDUSTRIAL AVERAGE today puked up more of Tuesday's indigestible gains. Worse than the Dow was the S&P500's close today at 1,451. Both indices are slowly dying on the vine. Swap stocks for silver & gold. Do it now.
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.
Gold Price Close Yesterday: 813
Change: -27.10 or -3.3%
Silver Price Close Today : 14.452
Silver Price Yesterday: 15.029
Change: -57.7 cents or -3.8%
US Dollar Index Today: 76.05
US Dollar Index Yesterday: 75.83
Change: 0.22 or 0.3%
It's really a bit simpleminded to grab one little fact & tout that as the cause for events influenced by a dizzying number of factors.
So the dance between the GOLD PRICE & the US DOLLAR INDEX. The simplistic explanation for gold's drop today is that the US Dollar index rose 22 basis points ("beeps") to close at 76.049. Yet a broader & more perceptive mind would note that the $ Index has broken down out of a 36 year range while gold is trading in the $780 - $850 range, & conclude 'twas not the dollar's demise alone driving this, but much deeper economic & monetary illnesses.
In any event, gold & silver prices were more than ready for a decline, so the dollar's rally is either coincident, or the result of other factors influencing gold.
The GOLD PRICE dropped $27.10 today to close at $785.90. The SILVER PRICE dropped 57.70 cents to close at $14.452. This was that third leg of the down-up-down correction I feared yesterday.
Lows for the day were $782.10 & $14.30. That's a new low for gold, but not as low as the $14.27 mark silver hit on the first drop. I still believe that $780 & $14 will prove the correction's bottom. Buy silver & gold, don't delay. Now.
The DOW JONES INDUSTRIAL AVERAGE today puked up more of Tuesday's indigestible gains. Worse than the Dow was the S&P500's close today at 1,451. Both indices are slowly dying on the vine. Swap stocks for silver & gold. Do it now.
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.
Tuesday, November 13, 2007
Whether the Gold Rally Resumed Today, or Resumes 2 Weeks from Today, it Will Resume -- Shortly.
Gold Price Close Today : 813
Gold Price Close Yesterday: 797.2
Change: 15.8 or 2%
Silver Price Close Today : 15.029
Silver Price Yesterday: 14.571
Change: 45.8 cents or 3.1%
US Dollar Index Today: 75.83
US Dollar Index Yesterday: 75.91
Change: -0.08 or -0.1%
SILVER & GOLD PRICES turned in marvelous, lusty performances today, but I would be neglectful if I failed to warn y'all that reactions run in three legs, down-up-down. What you may have seen today was the "up" part of that correction, with one more down leg to come.
Working a against that was silver's close above $15.00 at $15.027 & gold above $808 at $813. These prices are within the gap left last week, & I interpret that as strong. I know from dealers all over the country that physical demand is the strongest seen since Y2K.
Best strategy I know is not to let the threat of another reaction scare you off -- buy silver & gold now. Whether the rally resumed today, or resumes 2 weeks from today, it will resume -- shortly.
Premiums on all gold coins & on silver rose again today. Huge demand out there.
James Turk wrote a recent article noting that gold today was equal today to its 1971 value about US$42.65. Interesting, since that was gold's last low and it climbed for the next 7-1/2 years, increasing 1993% to top at 850.00. Just got me thinking, you know? 20.73 times $800 = $15,944. Sounds ridiculous, doesn't it? I reckon $850 gold sounded ridiculous in 1971, too.
Whoops! The air done come out of the stock balloon again today, as stocks gave back about a third of yesterday's gains, closing near the day's lows.
Now why is it when you talk to stock brokers & investment advisers about buying silver or gold, they flash you the same look a vampire flashes when you pull out a wooden stake? I know this happens because numerous customers have reported it, & reported the threats of being committed if they carried out their intention to invest in silver & gold. It's hard to think for yourself. You're not likely to do it when letting other people think for you fills your lunch box.
The US Dollar index has dropped about eight basis points since yesterday, no big deal, but the second day of giving up ground. Not an inspiring performance. More I think about the dollar, more I recur to the conclusion that US gov't. & Fed policy is now to let it drop, drop, drop. The con-sequences make me tremble. Where will this end? Get out of dollars.
There are 41 days left till Christmas. If that doesn't make your blood run cold, I don't know what will.
On this day in 1972 the Dow Jones Industrial Average closed above 1,000 for the first time in history.
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.
Gold Price Close Yesterday: 797.2
Change: 15.8 or 2%
Silver Price Close Today : 15.029
Silver Price Yesterday: 14.571
Change: 45.8 cents or 3.1%
US Dollar Index Today: 75.83
US Dollar Index Yesterday: 75.91
Change: -0.08 or -0.1%
SILVER & GOLD PRICES turned in marvelous, lusty performances today, but I would be neglectful if I failed to warn y'all that reactions run in three legs, down-up-down. What you may have seen today was the "up" part of that correction, with one more down leg to come.
Working a against that was silver's close above $15.00 at $15.027 & gold above $808 at $813. These prices are within the gap left last week, & I interpret that as strong. I know from dealers all over the country that physical demand is the strongest seen since Y2K.
Best strategy I know is not to let the threat of another reaction scare you off -- buy silver & gold now. Whether the rally resumed today, or resumes 2 weeks from today, it will resume -- shortly.
Premiums on all gold coins & on silver rose again today. Huge demand out there.
James Turk wrote a recent article noting that gold today was equal today to its 1971 value about US$42.65. Interesting, since that was gold's last low and it climbed for the next 7-1/2 years, increasing 1993% to top at 850.00. Just got me thinking, you know? 20.73 times $800 = $15,944. Sounds ridiculous, doesn't it? I reckon $850 gold sounded ridiculous in 1971, too.
Whoops! The air done come out of the stock balloon again today, as stocks gave back about a third of yesterday's gains, closing near the day's lows.
Now why is it when you talk to stock brokers & investment advisers about buying silver or gold, they flash you the same look a vampire flashes when you pull out a wooden stake? I know this happens because numerous customers have reported it, & reported the threats of being committed if they carried out their intention to invest in silver & gold. It's hard to think for yourself. You're not likely to do it when letting other people think for you fills your lunch box.
The US Dollar index has dropped about eight basis points since yesterday, no big deal, but the second day of giving up ground. Not an inspiring performance. More I think about the dollar, more I recur to the conclusion that US gov't. & Fed policy is now to let it drop, drop, drop. The con-sequences make me tremble. Where will this end? Get out of dollars.
There are 41 days left till Christmas. If that doesn't make your blood run cold, I don't know what will.
On this day in 1972 the Dow Jones Industrial Average closed above 1,000 for the first time in history.
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.
Friday, November 09, 2007
Should I Buy Gold and Silver Or Hold Off?
Gold Price Close Today : 805.8
Gold Price Close Friday: 832.50
Change: -26.7 or -3.2%
Silver Price Close Today : 14.71
Silver Price Friday: 15.499
Change: -78 cents or -5.0%
US Dollar Index Today: 76.03
US Dollar Index Friday: 75.387
Change: 0.64 or 0.9%
I know, I know, silver & gold fell far today. But first let's consider something that may tell us how far the fall can go.
The premiums on physical silver & gold items can reveal market direction. Large & ready supply makes premiums fall, so low premium implies there are as many sellers as buyers, or more sellers than buyers. Scant supply makes premiums rise, & tell us buyers outnumber sellers; that strong demand and scant supply makes for a strong market. Easy supply and weak demand makes a weak market.
But I can't cite any absolute levels on premiums as signals, because only relative levels are important. Rising premiums point to a rising market; falling premiums point to a weak market.
Today when silver & gold fell, premiums popped up and stayed up. That hints that sellers are refusing to sell at these lower prices, which in turn hints that this correction won't last very long.
The SILVER PRICE gapped up last week between 1486 & 1522. Gaps are usually filled in later trading. Today's low at 1427 filled the gap and then some. Support on the chart lies at 1450.
The GOLD PRICE traded as low at US$791.10 today. It had gapped up from 808, so that fills the gap. Further support lurks at 780, but I think that 791 low today was enough for a whole correction. The jump back above 800 shows mobs of buyers waiting to buy.
Today came the sudden, sharp correction I warned y'all about, triggered by a small US dollar rally. Recall that gold has been rising NOT ONLY against the dollar, but against all currencies, so don't assign more importance to the dollar than it deserves. The market was was very spooky & silver & gold very overbought to have reacted so strongly to such a piddling US dollar rally (64 basis points to 76.03).
Several weeks of silver & gold grinding lower might describe the correction, but their toughness today makes me expect a very short correction, perhaps over by the end of this week. Whenever corrections occur, people want to know whether they should buy or hold off. Unless you are the Oracle at Delphi or the Cumaean Sybil, just go ahead & buy. Don't get cute trying to catch the very bottom, but be satisfied with the gift you've been handed. Remember the market proverb, "Bulls get rich, & bears get rich, but pigs get slaughtered."
Under no circumstances conclude that today's drops mean silver & gold's end. Lo, they have YEARS to rise yet.
So-called "psychological numbers" are really "morale numbers", i.e., round numbers that break or build moral when crossed. Today the Dow closed at 12,987, below 13,000, eating deeper into stock buyers' confidence. The Dow has now fallen deeply below its 200 day moving average (13,221) & its 50 DMA (13,686), and become deeply oversold. Can a rising dollar help stocks, after lo! these many months the buck & the Dow have moved opposite each other? Hardly. Stocks are whispering a message about the economy's future, and suggesting that the sub-prime mortgage mess has not even begun to be unveiled. "Bad stuff coming!" stage-whispers the Dow. Oh, and the poor S&P500 had taken an even worse beating.
How high might the US DOLLAR INDEX climb? Resistance will be offered at 78 - 78.2, then again at 80. Let's see how it unfolds, but it might reach 83, even 85. Silver & gold will be able to digest even that.
One last thought on silver & gold. This month sits in the time window when silver & gold seasonally make important highs or lows. However, sometimes (like 2005 - 2006) silver & gold make little peaks with shallow corrections in November-December, then proceed to another, far higher peak in the other seasonal high/low window, April - May. Obviously, I think we will see now a shallow correction leading to much higher prices next spring.
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.
Gold Price Close Friday: 832.50
Change: -26.7 or -3.2%
Silver Price Close Today : 14.71
Silver Price Friday: 15.499
Change: -78 cents or -5.0%
US Dollar Index Today: 76.03
US Dollar Index Friday: 75.387
Change: 0.64 or 0.9%
I know, I know, silver & gold fell far today. But first let's consider something that may tell us how far the fall can go.
The premiums on physical silver & gold items can reveal market direction. Large & ready supply makes premiums fall, so low premium implies there are as many sellers as buyers, or more sellers than buyers. Scant supply makes premiums rise, & tell us buyers outnumber sellers; that strong demand and scant supply makes for a strong market. Easy supply and weak demand makes a weak market.
But I can't cite any absolute levels on premiums as signals, because only relative levels are important. Rising premiums point to a rising market; falling premiums point to a weak market.
Today when silver & gold fell, premiums popped up and stayed up. That hints that sellers are refusing to sell at these lower prices, which in turn hints that this correction won't last very long.
The SILVER PRICE gapped up last week between 1486 & 1522. Gaps are usually filled in later trading. Today's low at 1427 filled the gap and then some. Support on the chart lies at 1450.
The GOLD PRICE traded as low at US$791.10 today. It had gapped up from 808, so that fills the gap. Further support lurks at 780, but I think that 791 low today was enough for a whole correction. The jump back above 800 shows mobs of buyers waiting to buy.
Today came the sudden, sharp correction I warned y'all about, triggered by a small US dollar rally. Recall that gold has been rising NOT ONLY against the dollar, but against all currencies, so don't assign more importance to the dollar than it deserves. The market was was very spooky & silver & gold very overbought to have reacted so strongly to such a piddling US dollar rally (64 basis points to 76.03).
Several weeks of silver & gold grinding lower might describe the correction, but their toughness today makes me expect a very short correction, perhaps over by the end of this week. Whenever corrections occur, people want to know whether they should buy or hold off. Unless you are the Oracle at Delphi or the Cumaean Sybil, just go ahead & buy. Don't get cute trying to catch the very bottom, but be satisfied with the gift you've been handed. Remember the market proverb, "Bulls get rich, & bears get rich, but pigs get slaughtered."
Under no circumstances conclude that today's drops mean silver & gold's end. Lo, they have YEARS to rise yet.
So-called "psychological numbers" are really "morale numbers", i.e., round numbers that break or build moral when crossed. Today the Dow closed at 12,987, below 13,000, eating deeper into stock buyers' confidence. The Dow has now fallen deeply below its 200 day moving average (13,221) & its 50 DMA (13,686), and become deeply oversold. Can a rising dollar help stocks, after lo! these many months the buck & the Dow have moved opposite each other? Hardly. Stocks are whispering a message about the economy's future, and suggesting that the sub-prime mortgage mess has not even begun to be unveiled. "Bad stuff coming!" stage-whispers the Dow. Oh, and the poor S&P500 had taken an even worse beating.
How high might the US DOLLAR INDEX climb? Resistance will be offered at 78 - 78.2, then again at 80. Let's see how it unfolds, but it might reach 83, even 85. Silver & gold will be able to digest even that.
One last thought on silver & gold. This month sits in the time window when silver & gold seasonally make important highs or lows. However, sometimes (like 2005 - 2006) silver & gold make little peaks with shallow corrections in November-December, then proceed to another, far higher peak in the other seasonal high/low window, April - May. Obviously, I think we will see now a shallow correction leading to much higher prices next spring.
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.
Thursday, November 08, 2007
More Volatility in Silver & Gold Prices in the Future
Gold Price Close Today : 835.20
Gold Price Close Yesterday: 831.00
Change: $4.2 or 0.5%
Silver Price Close Today : 15.467
Silver Price Close Yesterday: 15.272
Change: 19.5 cents or 1.3%
US Dollar Index Today: 75.45
US Dollar Yesterday: 75.55
Change: -0.10 or -0.1%
Y'all have to accustom yourselves to more volatility in silver & gold prices. In the late aftermarket yesterday evening the SILVER PRICE actually dipped under $15, but this morning at the open was $15.625! Then in the aftermarket today -- after silver had closed up 19.5 cents at $15.467 & the GOLD PRICE up $4.20 at $835.20 -- gold dropped three bucks and silver dropped a nickel. Then it rose again, & back & forth.
It appears to me that as overbought as silver & gold are, they have yet further to climb. The gold price is bouncing off the epic $850 high of 1980, but this number is almost meaningless, since it only traded there one day in 1980 during a blow-off. The gold price will crack $850 then run for $900.
The silver price has only begun to run, moving into that phase of a precious metals advance when it outperforms the gold price. All this must yet unfold before this rally ends, and it has barely begun to unfold yet. Still, watch out for sudden corrections. It's a spooky market, out where no market has ever trod before (at least no silver & gold markets), so crazy things can happen, and hit you in the head like a hammer.
Still, all things weighed, I would keep on buying silver & gold. They have years left to run.
US DOLLAR INDEX dropped a dime today, 10 basis points to close at 75.45. Low day before yesterday was 75.20. Clearly, US Government has decided to inflate & let the dollar drop to reduce the burden of debt, or for whatever other stupid purpose they may have in mind. Still, watch out here for a surprise rally that catches the shorts unaware, since everybody, his brother-in-law, & his brother-in-law's dog must be short the dollar now, & they would panic like naked boys before mad hornets if the buck rose 100 basis points.
Nothing like fair, free, unfettered markets, huh? Well, maybe they exist in Schlaraffenland, but not in Amerika. The Dow today made a low at 13,079.48 after a 362 point down day yesterday, yet somehow (Wink! Wink! Toward the Nice Government Men) managed to recover & claw back to only 33.73 points down. Right, O, right.
I failed to point out to y'all yesterday how much the more important S&P500 fell yesterday, completely smashing the psychologically critical 1500 level.
Today, NGM notwithstanding, the Dow closed barely above its 200 day moving average, at 13,266.29 versus 13,215.63 for the 200 DMA. 'Tis the beginning, not the end of the plunge.
But most breathtaking of all is the DOW IN GOLD DOLLARS, closing today at a new post-1999 low, G$328.35 (15.884 oz). Forget what everybody else in the world, every other indicator says, & listen to the DiG$: "Stocks gonna fall LOTS more against 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"
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.
Gold Price Close Yesterday: 831.00
Change: $4.2 or 0.5%
Silver Price Close Today : 15.467
Silver Price Close Yesterday: 15.272
Change: 19.5 cents or 1.3%
US Dollar Index Today: 75.45
US Dollar Yesterday: 75.55
Change: -0.10 or -0.1%
Y'all have to accustom yourselves to more volatility in silver & gold prices. In the late aftermarket yesterday evening the SILVER PRICE actually dipped under $15, but this morning at the open was $15.625! Then in the aftermarket today -- after silver had closed up 19.5 cents at $15.467 & the GOLD PRICE up $4.20 at $835.20 -- gold dropped three bucks and silver dropped a nickel. Then it rose again, & back & forth.
It appears to me that as overbought as silver & gold are, they have yet further to climb. The gold price is bouncing off the epic $850 high of 1980, but this number is almost meaningless, since it only traded there one day in 1980 during a blow-off. The gold price will crack $850 then run for $900.
The silver price has only begun to run, moving into that phase of a precious metals advance when it outperforms the gold price. All this must yet unfold before this rally ends, and it has barely begun to unfold yet. Still, watch out for sudden corrections. It's a spooky market, out where no market has ever trod before (at least no silver & gold markets), so crazy things can happen, and hit you in the head like a hammer.
Still, all things weighed, I would keep on buying silver & gold. They have years left to run.
US DOLLAR INDEX dropped a dime today, 10 basis points to close at 75.45. Low day before yesterday was 75.20. Clearly, US Government has decided to inflate & let the dollar drop to reduce the burden of debt, or for whatever other stupid purpose they may have in mind. Still, watch out here for a surprise rally that catches the shorts unaware, since everybody, his brother-in-law, & his brother-in-law's dog must be short the dollar now, & they would panic like naked boys before mad hornets if the buck rose 100 basis points.
Nothing like fair, free, unfettered markets, huh? Well, maybe they exist in Schlaraffenland, but not in Amerika. The Dow today made a low at 13,079.48 after a 362 point down day yesterday, yet somehow (Wink! Wink! Toward the Nice Government Men) managed to recover & claw back to only 33.73 points down. Right, O, right.
I failed to point out to y'all yesterday how much the more important S&P500 fell yesterday, completely smashing the psychologically critical 1500 level.
Today, NGM notwithstanding, the Dow closed barely above its 200 day moving average, at 13,266.29 versus 13,215.63 for the 200 DMA. 'Tis the beginning, not the end of the plunge.
But most breathtaking of all is the DOW IN GOLD DOLLARS, closing today at a new post-1999 low, G$328.35 (15.884 oz). Forget what everybody else in the world, every other indicator says, & listen to the DiG$: "Stocks gonna fall LOTS more against 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"
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.
Wednesday, November 07, 2007
Silver Price is Headed Higher Still - Keep on Buying it, This Run Has Hardly Started for Silver
Gold Price Close Today : 831.00
Gold Price Close Yesterday: 820.80
Change: $10.20 or 1.2%
Silver Price Close Today : 15.272
Silver Price Close Yesterday: 15.327
Change: 5.5 cents or -0.4%
US Dollar Index Today: 75.55
US Dollar Yesterday: 76.01
Change: -0.46 or -0.6%
Yesterday I wasn't thinking very clearly. The gap up in silver was a breakaway gap out of congestion, while the gold would be a runaway gap. Gaps often get filled, so bear that in mind, too.
The SILVER PRICE today hit -- listen to this -- $16.20. But profit takers (or other shadowy characters) hit it & it closed down 5-1/2 cents. Calm down, it's all right, silver is headed higher still. Keep on buying it, this run has hardly started for silver.
GOLD, thanks to the US Dollar's drop, boosted US$10.20 today to close at US$831.00. Just in case you take the false notion that gold is merely mirroring the dollar, the dollar has recently lost 7.5% while gold has gained about 25%. Obviously, 'tis not the dropping dollar alone that is driving gold, although it certainly helps.
The US DOLLAR INDEX today fell through 76 to 75.554. Apparently the Bushites have taken a policy decision to solve their problems & the debt-ridden economy's problems by letting the dollar drop out of sight. So sorry, eggs -- they don't take us into account when they make omelets. Of course, if y'all stay in their pan (keep holding dollars) then you can't really blame the chef, now can you?
Mercy, look at that Dow in Gold Dollars!! It has collapsed. Closed today at G$330.85 (16.005 oz), barely 56 gold cents above the May 2006 low at G$330.29 (15.978 oz). SO? So that has so far been the very lowest point in the entire decline from August 1999 until now. Beneath here there is no support at all. None. Stocks are going to lose some huge amount against gold unless they literally turn tomorrow and rise.
The Dow fell badly and closed nearly on its low. It's hard even for Nice Government Men to keep up a market that wants to fall 350 + points a day. The Dow close at 13,300.02 wasn't far above the 200 day moving average at 13,212. For new subscribers, the 200 DMA forms significant support in bull markets, significant long term resistance in bear markets. Falling through it is bad juju, as Tarzan might say. On the chart the Dow has droawn out a seires of failed highs and lower lows, which makes -- face it -- a downtrend.
Tomorrow it will most likely break down through the 200 DMA (barring NGM). Worse yet, ponder this: stocks have been for a long time moving opposite to the US Dollar Index. Today the dollar index dropped nearly 50 basis points, and the Dow joined it.
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.
Gold Price Close Yesterday: 820.80
Change: $10.20 or 1.2%
Silver Price Close Today : 15.272
Silver Price Close Yesterday: 15.327
Change: 5.5 cents or -0.4%
US Dollar Index Today: 75.55
US Dollar Yesterday: 76.01
Change: -0.46 or -0.6%
Yesterday I wasn't thinking very clearly. The gap up in silver was a breakaway gap out of congestion, while the gold would be a runaway gap. Gaps often get filled, so bear that in mind, too.
The SILVER PRICE today hit -- listen to this -- $16.20. But profit takers (or other shadowy characters) hit it & it closed down 5-1/2 cents. Calm down, it's all right, silver is headed higher still. Keep on buying it, this run has hardly started for silver.
GOLD, thanks to the US Dollar's drop, boosted US$10.20 today to close at US$831.00. Just in case you take the false notion that gold is merely mirroring the dollar, the dollar has recently lost 7.5% while gold has gained about 25%. Obviously, 'tis not the dropping dollar alone that is driving gold, although it certainly helps.
The US DOLLAR INDEX today fell through 76 to 75.554. Apparently the Bushites have taken a policy decision to solve their problems & the debt-ridden economy's problems by letting the dollar drop out of sight. So sorry, eggs -- they don't take us into account when they make omelets. Of course, if y'all stay in their pan (keep holding dollars) then you can't really blame the chef, now can you?
Mercy, look at that Dow in Gold Dollars!! It has collapsed. Closed today at G$330.85 (16.005 oz), barely 56 gold cents above the May 2006 low at G$330.29 (15.978 oz). SO? So that has so far been the very lowest point in the entire decline from August 1999 until now. Beneath here there is no support at all. None. Stocks are going to lose some huge amount against gold unless they literally turn tomorrow and rise.
The Dow fell badly and closed nearly on its low. It's hard even for Nice Government Men to keep up a market that wants to fall 350 + points a day. The Dow close at 13,300.02 wasn't far above the 200 day moving average at 13,212. For new subscribers, the 200 DMA forms significant support in bull markets, significant long term resistance in bear markets. Falling through it is bad juju, as Tarzan might say. On the chart the Dow has droawn out a seires of failed highs and lower lows, which makes -- face it -- a downtrend.
Tomorrow it will most likely break down through the 200 DMA (barring NGM). Worse yet, ponder this: stocks have been for a long time moving opposite to the US Dollar Index. Today the dollar index dropped nearly 50 basis points, and the Dow joined it.
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.
Tuesday, November 06, 2007
Is There Still Time to Buy Silver and Gold?
Gold Price Close Today : 820.80
Gold Price Close Yesterday: 808.10
Change: $12.7 or 1.6%
Silver Price Close Today : 15.327
Silver Price Close Yesterday: 14.732
Change: 59.5 cents or 4%
US Dollar Index Today: 76.01
US Dollar 25th of October: 76.45
Change: -0.44 or -0.6%
I have to confess, y'all, that yesterday when I wrote that about silver breaking out I was expecting it, but not necessarily today. (It did look good, though, didn't it?)
Let's talk about gaps. These occur when markets are extremely agitated -- exhaustion gaps & breakaway & runaway gaps. You don't know which until more trading occurs, but you can easily guess. After a market has been advancing for days, it gaps up, trades sideways for a day or two, then gaps down again. That's an exhaustion gap (& you can turn it upside down for bottoms), leaving an "island reversal."
But when markets have congested & kick into high gear, they leave "breakaway gaps." Breakaway gaps emphasize that a breakout has taken place, & the move is genuine & not false. They also yell that the buying pressure is much stronger than anyone thought, but they take place at congestion.
The runaway gap hits during rapid rises or falls. They tend to appear when the move is at its height, & about half-way from its beginning.
Today both the SILVER PRICE and the GOLD PRICE showed big gaps up on opening. Figuring that the gold move began 16 August at $648.30 & rose yesterday to $808.10, that's $159.80, plus the $808.10 gives a target of US$967.90. Silver's move began at $1146.50, then gapped after yesterday's close at $1473.20, or $3.267 higher. Add that to $14.732 and you come to a target at $17.999.
I just don't think these are exhaustion gaps, & all the less so because in the aftermarket silver rose from $15.327 (close) to $15.59 while gold rose from $820.80 to 824.70. Don't look tired to me. Is there still time to buy? Yes, most definitely.
Here's a hot news flash: and today the US dollar index made another new low. Dropped 43.5 points to close at 76.01, even trading to 75.988 at one time.
US Stocks, acting like hard assets as the flight from the dollar builds, rose today, but not giving any meaningful clues. Could have been merely the Nice Government Men fiddling around with the market.
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.
Gold Price Close Yesterday: 808.10
Change: $12.7 or 1.6%
Silver Price Close Today : 15.327
Silver Price Close Yesterday: 14.732
Change: 59.5 cents or 4%
US Dollar Index Today: 76.01
US Dollar 25th of October: 76.45
Change: -0.44 or -0.6%
I have to confess, y'all, that yesterday when I wrote that about silver breaking out I was expecting it, but not necessarily today. (It did look good, though, didn't it?)
Let's talk about gaps. These occur when markets are extremely agitated -- exhaustion gaps & breakaway & runaway gaps. You don't know which until more trading occurs, but you can easily guess. After a market has been advancing for days, it gaps up, trades sideways for a day or two, then gaps down again. That's an exhaustion gap (& you can turn it upside down for bottoms), leaving an "island reversal."
But when markets have congested & kick into high gear, they leave "breakaway gaps." Breakaway gaps emphasize that a breakout has taken place, & the move is genuine & not false. They also yell that the buying pressure is much stronger than anyone thought, but they take place at congestion.
The runaway gap hits during rapid rises or falls. They tend to appear when the move is at its height, & about half-way from its beginning.
Today both the SILVER PRICE and the GOLD PRICE showed big gaps up on opening. Figuring that the gold move began 16 August at $648.30 & rose yesterday to $808.10, that's $159.80, plus the $808.10 gives a target of US$967.90. Silver's move began at $1146.50, then gapped after yesterday's close at $1473.20, or $3.267 higher. Add that to $14.732 and you come to a target at $17.999.
I just don't think these are exhaustion gaps, & all the less so because in the aftermarket silver rose from $15.327 (close) to $15.59 while gold rose from $820.80 to 824.70. Don't look tired to me. Is there still time to buy? Yes, most definitely.
Here's a hot news flash: and today the US dollar index made another new low. Dropped 43.5 points to close at 76.01, even trading to 75.988 at one time.
US Stocks, acting like hard assets as the flight from the dollar builds, rose today, but not giving any meaningful clues. Could have been merely the Nice Government Men fiddling around with the market.
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.
Monday, November 05, 2007
Gold Price is Headed Higher - Buy Silver Now
Gold Price Close Today : 808.10
Gold Price Close on Friday: 805.7
Change: 2.4 or 0.3%
Silver Price Close Today : 14.732
Silver Price Close on Friday: 1454.6
Change: 18.6 cents or 1.3%
US Dollar Index Today: 76.45
US Dollar 25th of October: 76.274
Change: 0.17 or 0.2%
So the GOLD PRICE makes two, three, or four bucks a day. Not much, until you throw in some $10 days and add a pound of relentlessness. Gold is headed higher still, overbought though it be. Physical demand for investment gold is relentless, too.
The SILVER PRICE battered away again today at that old 1486 high that stopped it four days ago. You think this rally has been exciting until now? Wait until silver crosses 1500, when, in the words of John Milton, "all hell will break loose." Yes, buy now.
The gold silver ratio looks like it has turned down again, so perhaps we won't get to swap gold for silver at 58:1. The ratio won't climb above 55.5.
The US Dollar Index hit a new low today at 76.24, but managed to close higher at 77.449. Now in the late (18:37 Central time) aftermarket it's down to 76.393. It just keeps on grinding lower while silver & gold grind higher. Believe it or not, the Dollar Index is not so oversold that it can't go lower. Of the last 10 days, 8 have been down days. Avoid all investments that promise to pay you dollars in the future.
STOCKS look ready to plunge through Dow 13,400 & freefall. The Dow needs a close above 13,963 to prove that conclusion wrong. If it weren't for the Nice Government Men on the Plunge Protection Team, where would the Dow be now? The DOW IN GOLD DOLLARS, a more honest & reliable indicator, has broken down and today closed at G$346.45 (16.760 oz). It shows no signs at all of levelling off.
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.
Gold Price Close on Friday: 805.7
Change: 2.4 or 0.3%
Silver Price Close Today : 14.732
Silver Price Close on Friday: 1454.6
Change: 18.6 cents or 1.3%
US Dollar Index Today: 76.45
US Dollar 25th of October: 76.274
Change: 0.17 or 0.2%
So the GOLD PRICE makes two, three, or four bucks a day. Not much, until you throw in some $10 days and add a pound of relentlessness. Gold is headed higher still, overbought though it be. Physical demand for investment gold is relentless, too.
The SILVER PRICE battered away again today at that old 1486 high that stopped it four days ago. You think this rally has been exciting until now? Wait until silver crosses 1500, when, in the words of John Milton, "all hell will break loose." Yes, buy now.
The gold silver ratio looks like it has turned down again, so perhaps we won't get to swap gold for silver at 58:1. The ratio won't climb above 55.5.
The US Dollar Index hit a new low today at 76.24, but managed to close higher at 77.449. Now in the late (18:37 Central time) aftermarket it's down to 76.393. It just keeps on grinding lower while silver & gold grind higher. Believe it or not, the Dollar Index is not so oversold that it can't go lower. Of the last 10 days, 8 have been down days. Avoid all investments that promise to pay you dollars in the future.
STOCKS look ready to plunge through Dow 13,400 & freefall. The Dow needs a close above 13,963 to prove that conclusion wrong. If it weren't for the Nice Government Men on the Plunge Protection Team, where would the Dow be now? The DOW IN GOLD DOLLARS, a more honest & reliable indicator, has broken down and today closed at G$346.45 (16.760 oz). It shows no signs at all of levelling off.
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.
Friday, November 02, 2007
The Silver Price will Blow Past Gold Like it's Standing Still
Gold Price Close Today : 805.70
Gold Price Close 25th of October: 783.90
Change: 21.80 or 2.8%
Silver Price Close Today : 1454.6
Silver Price 25th of October: 1421.2
Change: 33.40 cents or 2.4%
US Dollar Index Today: 76.274
US Dollar 25th of October: 77.010
Change: -0.736 or -1%
Since 1980 I've been in the silver & gold business, & today for the very first time I wrote a trade where spot gold was over U$800. Let that sink in.
Will y'all hear me if I speak in deadly earnest? The US government & its owners have a plan to decapitalise you -- not to take off your head (yet), but to take all your money. If you remain in US dollars & bonds & stocks, they will pick your bones clean. It's the plan. Safety lies outside.
It's been an astounding week. STOCKS promised last week to break to a new high, but even with Bernanke's Boost they melted down instead, losing 210 points for the week, including the 362 point drop on Thursday. But the "down 1.5%" score doesn't show the real damage to stock owners. They could have been holding silver & gold.
The SILVER PRICE rose 2.45% (33.4 cents) this week while the GOLD PRICE rose 2.8% (US$21.80). Against gold, the Dow lost 4.2%, and against silver 4.2%. Stock owners lost two ways, their stocks dropped and they missed the rise in silver & gold prices.
The DOW IN GOLD DOLLARS dropped to a new low today, G$348.83 (16.875 oz). Stocks lost nearly 3/4 of an ounce of gold in one week. But look at the DOW IN SILVER. Now that it has broken through 1,000 ounces, it can't stop falling. Ultimate goal? 36 ounces or less to buy the entire Dow.
The Gold/Silver ratio is what I'm watching right now. Could we see a rise above 58:1? If so, swap gold for silver immediately, because you'll have very little time. (We specialise in these trades, & charge commission on one side only.
Call (888) 218-9226.) please mention goldprice.org when you call.
You are watching a raging bull move in gold. Silver has not yet begun to play catch up, but will in the next week or two, at which time silver will blow past gold like it's standing still.
This is not the kind of move you try to time, holding back for a correction. This is like running after a train that's leaving the station, you just jump, grab hold, and let your legs flap in the wind. BUY, and hold on. Gold should reach 850, perhaps US$900, before any serious correction can even be considered.
I can't pick a target for the silver price because the numbers I keep coming up with sound ridiculous. Let's say $20
The US DOLLAR INDEX is sinking slowly out of sight. It lost 74 basis points this week, all of it in new low territory. Yeah, a dead cat bounce may come, but I am beginning to suspect the comrades in the Bush administration & the Feddites have decided to blow away the debt burden & keep the economy floating on tidal waves of new, cheaper dollars. Eventually the Japanese & Europeans must also depreciate their currencies even faster to catch up with the dollar.
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.
Gold Price Close 25th of October: 783.90
Change: 21.80 or 2.8%
Silver Price Close Today : 1454.6
Silver Price 25th of October: 1421.2
Change: 33.40 cents or 2.4%
US Dollar Index Today: 76.274
US Dollar 25th of October: 77.010
Change: -0.736 or -1%
Since 1980 I've been in the silver & gold business, & today for the very first time I wrote a trade where spot gold was over U$800. Let that sink in.
Will y'all hear me if I speak in deadly earnest? The US government & its owners have a plan to decapitalise you -- not to take off your head (yet), but to take all your money. If you remain in US dollars & bonds & stocks, they will pick your bones clean. It's the plan. Safety lies outside.
It's been an astounding week. STOCKS promised last week to break to a new high, but even with Bernanke's Boost they melted down instead, losing 210 points for the week, including the 362 point drop on Thursday. But the "down 1.5%" score doesn't show the real damage to stock owners. They could have been holding silver & gold.
The SILVER PRICE rose 2.45% (33.4 cents) this week while the GOLD PRICE rose 2.8% (US$21.80). Against gold, the Dow lost 4.2%, and against silver 4.2%. Stock owners lost two ways, their stocks dropped and they missed the rise in silver & gold prices.
The DOW IN GOLD DOLLARS dropped to a new low today, G$348.83 (16.875 oz). Stocks lost nearly 3/4 of an ounce of gold in one week. But look at the DOW IN SILVER. Now that it has broken through 1,000 ounces, it can't stop falling. Ultimate goal? 36 ounces or less to buy the entire Dow.
The Gold/Silver ratio is what I'm watching right now. Could we see a rise above 58:1? If so, swap gold for silver immediately, because you'll have very little time. (We specialise in these trades, & charge commission on one side only.
Call (888) 218-9226.) please mention goldprice.org when you call.
You are watching a raging bull move in gold. Silver has not yet begun to play catch up, but will in the next week or two, at which time silver will blow past gold like it's standing still.
This is not the kind of move you try to time, holding back for a correction. This is like running after a train that's leaving the station, you just jump, grab hold, and let your legs flap in the wind. BUY, and hold on. Gold should reach 850, perhaps US$900, before any serious correction can even be considered.
I can't pick a target for the silver price because the numbers I keep coming up with sound ridiculous. Let's say $20
The US DOLLAR INDEX is sinking slowly out of sight. It lost 74 basis points this week, all of it in new low territory. Yeah, a dead cat bounce may come, but I am beginning to suspect the comrades in the Bush administration & the Feddites have decided to blow away the debt burden & keep the economy floating on tidal waves of new, cheaper dollars. Eventually the Japanese & Europeans must also depreciate their currencies even faster to catch up with the dollar.
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.
Thursday, November 01, 2007
Buy Silver & Gold, & Keep on Buying
Gold Price Close Today : 790.70
Gold Price Close Yesterday: 792.00
Change: -$1.3 or -0.2%
Silver Price Close Today : 14.27
Silver Price Close Yesterday: 14.377
Change: -10.7 cents or -0.7%
US Dollar Index: 76.68
Change: 0.14 or 0.2%
The GOLD PRICE eased off today by US$1.30 to close at US$790.70. US DOLLAR INDEX rose 14 basis points today, and remember that both stocks & gold have been moving opposite the dollar index. The SILVER PRICE took the blow on the chin today, dropping 10.7 cents & taking the ratio up to 55.73. Silver dropped another 13 cents in the aftermarket.
Maybe that's how we will see a 58:1 or better gold/silver ratio -- maybe gold stands still while silver drops. If y'all see any gold/silver ratio above 58, swap gold for silver fast as you can. It won't last more than a couple of days.
Both SILVER & GOLD PRICES -- but especially gold prices -- are overbought & overextended here. A correction of as much as a week wouldn't be any surprise or do any harm.
Buy silver & gold, & keep on buying.
The stock market melted down . Dow dropped 362.14 or 2.6% to close at 13,567.87, & the S&P500 tumbled 40.94 points (2.64%) to 1,508.44. Dramatic as that tumble is, taking out the 50 day moving average at 13,675, it still doesn't altogether resolve the question in stocks. Will they drop further, or make a new high? Today makes it appear they will drop much further (to me, at least), but the down must yet close below the last low (13,407) to confirm, then below the August low (12,845). 200 DMA stands at 13,192, another milestone.
Looks like necromancer Ben Bernanke's magic couldn't raise this corpse.
Dow in Gold Dollars plunged today to close at G$354.71 (17.159 oz). Most reliable indicator I know.
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.
Gold Price Close Yesterday: 792.00
Change: -$1.3 or -0.2%
Silver Price Close Today : 14.27
Silver Price Close Yesterday: 14.377
Change: -10.7 cents or -0.7%
US Dollar Index: 76.68
Change: 0.14 or 0.2%
The GOLD PRICE eased off today by US$1.30 to close at US$790.70. US DOLLAR INDEX rose 14 basis points today, and remember that both stocks & gold have been moving opposite the dollar index. The SILVER PRICE took the blow on the chin today, dropping 10.7 cents & taking the ratio up to 55.73. Silver dropped another 13 cents in the aftermarket.
Maybe that's how we will see a 58:1 or better gold/silver ratio -- maybe gold stands still while silver drops. If y'all see any gold/silver ratio above 58, swap gold for silver fast as you can. It won't last more than a couple of days.
Both SILVER & GOLD PRICES -- but especially gold prices -- are overbought & overextended here. A correction of as much as a week wouldn't be any surprise or do any harm.
Buy silver & gold, & keep on buying.
The stock market melted down . Dow dropped 362.14 or 2.6% to close at 13,567.87, & the S&P500 tumbled 40.94 points (2.64%) to 1,508.44. Dramatic as that tumble is, taking out the 50 day moving average at 13,675, it still doesn't altogether resolve the question in stocks. Will they drop further, or make a new high? Today makes it appear they will drop much further (to me, at least), but the down must yet close below the last low (13,407) to confirm, then below the August low (12,845). 200 DMA stands at 13,192, another milestone.
Looks like necromancer Ben Bernanke's magic couldn't raise this corpse.
Dow in Gold Dollars plunged today to close at G$354.71 (17.159 oz). Most reliable indicator I know.
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.
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