Gold Price Close Today : 891.70
Change: 12.20 or 1.4%
Silver Price Close Today : 16.173
Change: 43.9 cents or 2.8%
US Dollar Index Today: 75.86
Change: -0.60 or -0.8%
Many think that the Gold Price is finished or peaking, but I think they're flat wrong. Yes, I understand that it made a new all-time high today, but remains strong as 8 acres of garlic, and way shy of my minimum target of $980. Close today was $891.70, up a huge $12.20, and it rose more in the aftermarket to $892.40.
Silver Prices little by little, line by line, are gaining on gold. Today's $16.25 high was two cents shy of the November high. Will it fail tomorrow to break through that barrier? No, I don't think so, although I confess I feel somewhat lonely with that opinion. The silver price is about to break out & stagger every onlooker with its performance. Above this silver price stands resistance at $18 and then $25. Right, looks crazy but 'tis true.
We are now in outer space, & anything can happen.
If silver & gold prices rise again tomorrow, keep on buying. This is not the time to sell gold and silver.
The US DOLLAR spilled its basket again today, dropping 60 basis points to close well below 76 at 75.863. That's below the 50 DMA (76.21). Chart suggests it MAY have bottomed but wholly without enthusiasm.
This is really getting entertaining. The Dow today sank till about 12:30, then got a sudden goose -- faded again down to 12,700, then the sudden goose. Ended the day up 117.78 at 12,853.09. Not too subtle, Nice Government Men. Ominously, the Dow in Gold Dollars (the Dow valued in gold) closed the day down G$1.33 at G$297.97 (14.414 oz), still unable to regain the ground above G$300.
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.