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.
