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"
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.