Gold Price Close Today : 788.30
Gold Price Close Friday: 782.2
Change: 6.10 or 0.8%
Silver Price Close Today : 14.011
Silver Price Close Friday: 13.963
Change: 4.8 cents or 0.3%
US Dollar Index Today: 75.95
US Dollar Index Friday: 76.170
Change: -0.22 or -0.3%
Goldman Sachs announcement of its favourite 10 trades in 2008 on Friday included shorting gold. Ahh, what a cheap piece of "talking your position" from a bunch of crooks! Twas pure propaganda for the masses, to keep them out of gold.
Notice that the GOLD PRICE took no notice of Goldman Sachs, and rose today $6.10 to $788.30. Gold may spend more time backing & filling here, but don't look for a great deal further downside as long as $776 holds.
Crooks! It makes everything you think about markets disappear when you begin learning how much is manipulated behind the scenes. But in the end manipulators are not God, & the market always bears them down. Be patient.
The SILVER PRICE rose above $14 today. I still think we have either seen a bottom already for silver & gold, or we are not far from it. Keep on buying. Premiums on physicals show heavy buying pressure.
STOCKS dropped today, but staring at the chart it begins to look like they will rally for several weeks. The Dow in Gold Dollars has rallied up to G$349.15, and today bounced off the long term downtrend line. Possible is a rally to G$370 (17.899 oz). That translates to a Dow of about 13,910.
What's new here? Markets go up, markets go down. The DiG$ dropped a long way, now it's correcting before dropping again. Last chance for y'all who haven't yet jumped out of stocks and into silver & gold.
US Dollar Index dropped 22 basis points today to close below 76, but not far below. Buck still headed up, but don't interpret that as meaning it's any sounder or better than it has been. It's still garbage, backed by the full faith & credit of the US government. But remember what Omar Khayyam said, "Ahh, take the cash & let the credit go!"
By the way, the stock market's rally is a trap for bulls. It won't beat the old high, and will merely complete a Head & Shoulders topping formation.
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.