Gold Price Close Today : 992.30
Gold Price Close Yesterday: 978.80
Change: 13.5 or 1.2%
Silver Price Close Today : 20.339
Silver Price Close Yesterday : 19.911
Change: 42.8 cents or 2.2%
US Dollar Index Today: 73.2
Change: -0.45 or -0.6%
Today for the very first time in history the GOLD PRICE traded above US$1,000, hitting a high of US$1,000.10. It gained 13.50 to close at a new high, US$992.30. It's going higher, at least another $38 & probably much higher than that.
The SILVER PRICE, however, closed at $20.339, up 42.8¢, but not a new high. (Standing silver price high is $20.688). This action is wonderful, but the silver price needs to move to a new high tomorrow, along with the gold price, to cement these gains and show that the small corrections has been completed. Otherwise there might be one more shocking leg down. It appears, however, that silver & gold prices are on the road to blowing off. Where the top lies, nobody knows.
Now turn this over in your mind: these silver and gold prices are merely the beginning of a bull market that will last another 7 or 8 years.
The Gold/Silver Ratio dropped again today, and is signaling that a trough should hit in five or so weeks.
Check out a yearly chart & y'all will see that the Dow Jones Industrial Average has broken down from a plain Head & Shoulders top formation, & has rallied back up to the neckline, & fallen off again. That neckline stands about 12,700, so unless a rally climbs over that line, the Dow's doom is sealed: very much lower.
Clearly, the policy of the Fed, the US government, and whoever pulls their strings is to let the US DOLLAR depreciate. Today the dollar index plunged to yet another new low, 71.795, losing nearly 50 basis points today after losing 88 beeps yesterday. At 50 beeps a day, the dollar will only need another 142 days to reach zero. Are you listening, Nice Government Men?
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.