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"
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.