Gold Price Close Today : 902.80
Gold Price Close Last Friday : 918.40
Change: -15.60 or -1.7%
Silver Price Close Today : 17.098
Silver Price Close Last Friday : 17.075
Change: 2.3 cents or 0.1%
US Dollar Index Today: 76.040
US Dollar Index Last Friday: 76.651
Change: -0.611 or -0.8%
Both SILVER & GOLD PRICES spent the week treading water in a correction. Behold, however, that gold prices stayed above $900 & silver prices above $17. My charts still convince me that this rally has much further to run. Silver has begun to outperform gold -- the really crazy, wild part of the rally.
The Gold/Silver ratio fell this week. People have been asking whether there is still time to swap gold for silver to position themselves for this drop in the ratio. Clearly, the trade doesn't promise as much profit from a 52.82 ratio as it did from a 59 ratio, but I am almost persuaded that this fall will drag the ratio below 40, which would make even swaps out of gold at 52.8 return about 23% gross, maybe 20% net. Call us at (888) 218-9226 if you want to do a swap, but do it fast. (Please mention goldprice.org when you call)
The US Dollar index closed the week above 76, which is progress. Not much progress, but progress, still. Unless silver & gold prices fail & tap out early in the week, next week they should make strong gains.
Choke! The Platinum Price rose 10.3% this week, while its little brother the Palladium Price rose 2.3%. Thin markets + supply interrupted by South African power supply shortages = big price rise. Look for higher prices still - no stockpiles.
The Dow Jones Industrial Average has built a -- kinda, sorta -- base above 12,000, but it looks more like a three wave correction of the foregoing fall. DJIA remains below its 200 & 50 day moving averages. I know not what others may say, but as for me -- it looks like its about the plunge the depths.
I hope y'all have already sold your stocks. Often late at night when it's quiet I think about all those folks who have IRAs & 401(k)s & retirement plans all invested in stocks, & how even tho they've lost 75% against gold & silver since 2001, they're still clinging to those stocks because their broker (who makes money selling them stocks) keeps telling them they need to have a "diversified" portfolio. By the time they wake up, their "diversified" portfolio will have dried up & blown away. I wonder if those folks then will take their stockbrokers & decorate lampposts with them? Of course by then, it won't salve much but vengeance --all their money will have been "diversified" out of their portfolios.
Y'all! Travelling is not for me. The communists at the airport all but strip search you. About half the people look & act like barbarians or strip teasers. I saw people with enough bolts, wires, studs, & bangles through their lips, tongues, ears, & other places that they could qualify as scrap metal dealers.
If I had money to invest, I tell you what I'd invest in: a mirror factory. It's obvious to me that the US of A is suffering a major, widespread shortage of mirrors, cause if these folks could see themselves before they left the house, they'd go out wearing burlap bags over their heads or not at all. (Where's the door? I want out of here!)
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.
