Gold Price Close Today : 946.10
Gold Price Close Yesterday : 934.60
Change: 11.50 or 1.2%
Silver Price Close Today : 17.94
Silver Price Close Yesterday : 17.74
Change: 19.5 cents or 1.1%
US Dollar Index Today: 75.61
US Dollar Index Yesterday: 76.13
Change: -0.52 or -0.7%
Fulfilling my yesterday's expectation, the GOLD PRICE closed today more than 2% above its previous high close, at $946.10, up $11.50. Only question now is, "How high will the gold price go?" Let me speculate, with perfect irresponsibility. Without much trouble I can work out a target of $1030 - $1060, but when gold gets worked up & spikes, anything can happen. So US$1,100 to $US1,200 are possible. Gold Prices should probably reach $1,000 within a fortnight (two weeks to you Yanks).
For the first time since December 1980 (27-1/2 years ago) the SILVER PRICE traded above $18 today, at $18.06. Breakout is now confirmed beyond all doubting, and the silver price is moving into the hyperbolic part of its rise. 'Twill pass gold like the roadrunner passes the coyote.
Both silver & gold continue to rise away from their breakouts in Euro and in Yen terms. Metals are now steaming ahead in terms of all major trashy fiat national currencies. Surely, surely, veritas filia temporis -- truth is the daughter of time.
The PLATINUM PRICE has sort of stalled -- above US$2,100, if you can call that stalled -- while the PALLADIUM PRICE has made good on its earlier threat to begin closing the gap with platinum. The palladium price closed over US$500 at $512.90 today.
What headaches the Nice Government Men must be having! The US DOLLAR INDEX today fell below 76 -- by 52 big basis points, to close at 75.61. But lo! It remaineth above its low.
Fulfilling its warning earlier this week, the Dow in Gold Dollars broke to a new low today at G$268.41 (12.984 oz). Stocks have now lost 71% of their value against gold since their 1999 peak. Dow in Silver Ounces made a new low, too. It's fallen 73% since its 2001 high. Yet people still argue with me when I recommend they sell stocks & buy silver & gold. I don't understand. Another 7 years or more of famine in the stock market looms ahead.
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.
