Gold Price Close Today : 948.80
Change: -0.40 or 0%
Silver Price Close Today : 18.513
Change: 16.7 cents or 0.9%
US Dollar Index Today: 71.68
Change: 0.31 or 0.4%
SILVER and GOLD PRICES staggered a bit today, confused probably by sellers who think they will resume their corrective downdraft.
Those shorts will tire tomorrow, I suspect, and the gold price will pierce $950. The silver price rose 16.7 cents to close at $18.513. The real target remains at $21, then lift-off.
Keep on buying silver & gold.
The Gold/Silver Ratio made a fast spike high to 54.72, then fell just as fast to close today at 51.4. This screams that silver and gold prices are both going to move much, much higher. We are still waiting for our chance to swap silver for gold, but the correction has delayed it and pushed it off in time.
STOCKS continue to erode, defying the best efforts of Dollar-Bustin' Ben Bernanke to raise them from the dead. Sorry, Ben. A close below January's low would accelerate the debacle. A close above 12,700 would bring on a rally that would last several months, and revive hopes in the hopeless that their stocks will come back to life after all, shortly before their hopes are dashed forever.
The US DOLLAR continues to relentlessly disappoint and move lower. It climbed an impressive 31 basis points today -- impressive, that is, if you don't know that it fell 68 basis points yesterday. Get rid of dollars, get out of dollars, get shut of dollars.
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 $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.