Gold Price Close Today : 937.60
Gold Price Close Friday : 944.7
Change: -7.10 or -0.8%
Silver Price Close Today : 18.080
Silver Price Close Friday : 18.025
Change: 0.055 cents or 0.3%
US Dollar Index Today: 75.50
US Dollar Index Friday: 75.542
Change: -0.04 or -0.1%
The GOLD PRICE is experiencing engine trouble trying to pierce $945 - $950, but silver is not bothered at all. Today the gold price fell $7.10 to $937.60, but has traded a dollar or so higher in the aftermarket.
The SILVER PRICE added 5.5 cents today to close at $18.08, then traded up to $18.12 after the market closed. Above $18.00 there's no resistance until silver reaches the $20s.
It's possible that silver & gold prices might correct from here, but I don't think so. I think the shorts returned from their Long Island villas today & put their positions back on, & that was the most damage they could do. Tomorrow gold will flex its muscles again. It goes without saying (then why am I?) that silver will outperform gold.
Danger points where metal must hold support is $920 for gold and $17.90 for silver. My upward targets remain US$1,060.00 for gold and well over $21 for silver. That should happen before the whole rally ends by mid-June.
Stocks rise, stocks fall, it is the dance of the do-dos, without strength or meaning. Swap stocks for silver & gold. Use any stock rally to do it.
The US DOLLAR INDEX continues to languish around 75.50 whither it fell last week. Now it finds itself unable to pick itself up and make another try for 76. No news here, just the dollar index's long bottoming attempt.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
http://the-moneychanger.com/
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.
