Gold Price Close Today : 945.10
Gold Price Close Yesterday: 928.70
Change: 16.40 or 1.8%
Silver Price Close Today : 18.305
Silver Price Close Yesterday: 17.830
Change: 47.5 cents or 2.7%
US Dollar Index Today: 71.42
US Dollar Index Yesterday: 72.02
Change: -0.60 or -0.8%
Today was a touchback day, when markets that yesterday broke out (gold prices, silver prices, even stocks) touched back to find their feet before they move forward.
The GOLD PRICE gave up $5.30 today, but remained above that $925-$930 resistance/support. It closed about a dollar below the 50 DMA. Leaves you gnawing on your nails up to your elbows, but it's all right. Tomorrow the gold price will challenge $950.
The SILVER PRICE dropped 1.80 cents to 1828.70, but this was to be expected. Tomorrow silver should rise again. I would buy silver and gold. Higher silver and gold prices, much higher, are coming soon.
Stocks didn't actually decline, they just stopped to breathe -- and breathe hard they must, contemplating the 12,750 fence they so far have been unable to climb. Here's something that gives you faith in the unmanipulated purity of the stock market. Yesterday, on the day when the oil price hit a new all time high of US$115, the Dow Transportation average rose 190 points! Wow. They must not use gasoline or diesel, those transportation stocks. People make fun of my pointing to the Nice Government Men behind the curtain as "conspiracy theory", but how do they explain such anomalous and self-contradictory movements? Nature? Aliens? The market? Yet for all the NGM's resuscitation, the stock market keeps sagging. Stay out of stocks, get out of stocks.
The US DOLLAR INDEX rose today 28 basis points. No point in commenting on it. If it breaks out downside there's no telling where it will end, and upside it has to beat 72.50. In between is just marking time.
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 $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.
