Gold Price Close Today : 906.10
Gold Price Close Yesterday : 900.70
Change: 5.40 or 0.6%
Silver Price Close Today : 16.735
Silver Price Close Yesterday : 16.508
Change: 22.7 cents or 1.4%
US Dollar Index Today: 76.89
US Dollar Index Yesterday: 76.14
Change: 0.76 or 1.0%
By its close the GOLD PRICE didn't break out of the $905-$906 resistance, but in the aftermarket it's trading at $911.20. Low today hit $895.90, but gold bounced right back from that to close the day up $5.40. Big move up coming, and an open tomorrow above $910 should carry to a much higher close. Right now 895 is very important support, but I reckon tomorrow y'all will be looking more up to resistance than down to support.
I've been looking at some SILVER PRICE indicators that made me blurt out, "Oh, my goodness!" Looking at the differences between the various moving averages, all three that I occasionally check have turned up. Last two times they did that was exactly before silver erupted.
But back on earth, today's close still didn't break silver out. We need 16.95 to do that. I will be mildly surprised and blush twice if y'all don't see that tomorrow.
Buy more silver. Lots more.
My, oh, my, that Dow in Gold Dollars just looks like it could keep on falling forever, even though I "know" it ought at least rally a little here after such a long fall. Closed today at G$279.42 (13.517 oz), not quite at the all time low of G$276.13 (13.586 oz), but close.
The Dow today took stocks up 47.39 whole points to close at 12,247.49; S&P500 closed at 1336.91, up 10.46. Looks like it's building a little shelf around 12,200 - 12,250. Dow should throw itself a little counter-trend rally here. If so, swap stocks for silver & gold.
The second biggest story today, after gold & silver, was the US DOLLAR INDEX, which rose 78.6 basis points to stop at 76.894. That's not quite a breakout, but does carry the Dollar Index up to its downtrend line. A breakthrough tomorrow would send the dollar climbing a ways. "A ways" is Tennessean for "to 77.854, maybe 78." Likely to happen tomorrow.
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.
