Gold Price Close Today : 889.60
Gold Price Close Yesterday: 862.30
Change: 27.3 or 3.1%
Silver Price Close Today : 16.030
Silver Price Close Yesterday: 15.570
Change: 46 cents or 2.9%
US Dollar Index Today: 76.32
US Dollar Index Close Yesterday: 77.03
Change: -0.71 or -0.9%
SILVER & GOLD PRICES had made up all of yesterday's losses by the time markets opened this morning. That clears up the chart -- yesterday ended the last downwave of the correction -- & sets up silver and gold prices for a wild ride on wave 3 up. Hang on to your cars, Tourists, because this roller coaster is climbing!
Technically, as long as the GOLD PRICE holds $860 & the SILVER PRICE holds $15.50 they remain in their uptrend. First silver target aims for $21.00, then $24.00. The gold price is still aiming at least at $980.
Odd -- have y'all noticed the way silver & gold are sticking to each other like two flies that fell in a glue pot? The ratio hardly changes. From this point the ratio ought to break down as silver passes & outpaces gold. Ought to.
My granddaddy taught me that when you find yourself in a hole, first thing you do is stop digging. This, of course, cannot be taught to goverments & their flunkies, so this morning with the stock market's Wheaties Bustin' Ben Bernanke's Fed announced a surprise, never-before-seen-before-breakfast 3/4% rate cut. Even from Tennessee you could hear all the currency & stock traders spewing milk & Wheaties all over the kitchen as they grabbed their coats & rushed to work to short dollars & stocks.
Whooooo -- they also bought gold & silver.
What moved the Mighty Bernanke Superbanker to such unbankerly abandon? Why, tumbling stock markets around the globe. Shanghai down 7.2% Tuesday, 13% for the year; Hong Kong crashing -8.7%, down 22% for the year; Australia dropped 7.1%, the Nikkei burned up 5.6%, while the Indian Sensex opened down 10%, traded as low as -13%, then ended down only 5%. Oh, how great the pain, all courtesy of the US, it's criminal bankers, & their government thugs (a.k.a. the Nice Government Men). Great job, boys! Keep on digging that hole!
Thanks to Big Ben, the US Dollar puked back all 63 basis points it had climbed yesterday. Hang the dollar, we've gotta save our cronies on Wall Street! Folks, my friend RL the Super-technician remarked today that history would note this as the "Day the Hyper-inflation Began." God have mercy on all of us.
If you had not yet sold your stocks, watch for any rebound, which ought to come soon, & sell then. Put the proceeds into silver & gold -- this bull market has only barely begun.
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.