Gold Price Close Today : 901.60
Gold Price Close Yesterday: 896.10
Change: 5.50 or 0.6%
Silver Price Close Today : 16.325
Silver Price Close Yesterday: 16.273
Change: 5.2 cents or 0.3%
US Dollar Index Today: 75.62
US Dollar Index Close Yesterday: 76.019
Change: -0.40 or -0.5%
I'm not one to toot my own horn, but what's one little toot going to hurt, now and then? I told y'all the SILVER PRICE & GOLD PRICE would be higher today, &, I suspect, will keep climbing all week.
Today in gold & silver felt like those days when gold was flirting with 800 (only a few short weeks ago, recall)when 'twould be knocked down right before the end of the day to the 790s, then work its way higher, even above 800, in the aftermarket. For the first time in cosmic history, gold closed over US$900 today, at 901.60.
Silver also posted a new high close at 1632.50 cents. In just six trading days, silver has added nearly a dollar,98 cents, or about 6.5%. This rise has not ended. In fact, now that gold has pierced & beaten back the US$900 boogeyman, the followers will swarm in like poor relatives to Howard Hughes' funeral.
Gold & silver will keep on rising, with a minimum gold target of US$980. Silver could stop at 1800, or push right on through to 2500. Sound crazy, don't I, but I'm just as sane as a cold shower on a sober morning.
The GOLD/SILVER RATIO has inched down, & should be preparing itself for a breathtaking sprint past gold -- should be. Let's watch.
The US DOLLAR INDEX, the clown of international currencies, sank today well below the 76 mark to close at 75.61, and lower than the last low close 6 days ago. Should the buck not scrabble & catch hold here (can you hear the gravel flicking down the rock face over the edge of the cliff?) 'twill sink back to the last low at 75, even below 75. Never mind the fainting spells & other hysteria, later this year we should see a dollar rally.
The Dow & S&P500 & other STOCK indices rose today, but then, who would that surprise, after such a long losing streak. Not yet decided is whether stocks have made an interim bottom for a counter-trend rally, or whether without intermission, let, or hindrance they will continue to sink toward the earth's core. I am opinionless, because it matters not to one who long ago sold stocks & put the proceeds into silver & gold, as I heartily recommend y'all do as soon as possible.
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.