Gold Price Close Today : 886.80
Gold Price Close Yesterday: 906.2
Change: -19.40 or -2.1%
Silver Price Close Today : 16.652
Silver Price Close Yesterday: 17.155
Change: -50.3 cents or -2.9%
US Dollar Index Today: 72.54
US Dollar Index Yesterday: 71.84
Change: 0.72 or 1.0%
After a confusing and confounding back & forth, the US DOLLAR INDEX today rose to, yea, even crossed 72.5. Assuming it can hold that gain tomorrow, it should begin a rally that will last several months. A rising dollar and rising stocks -- and who knows what all else -- hammered silver and gold prices today.
The GOLD PRICE posted a low of $882.70, and closed not far from that low at $886.80.
The SILVER PRICE fell as low as $16.63 and closed at $16.6520, down $50.30. And talk about volatility. Of the last 7 trading days, the silver price has moved more than 35 cents all but one, and has moved form than 46 cents on five days -- down over 50 cents each of the last two days. Don't y'all think that about finishes it? The silver price could still drop to $16.30, and on a very bad day $15.20, but turnaround should come soon.
Watch for the gold price to fall as low as $850. The April 1 low was $882.90, so that's another possibility. Just wait until both metals settle down.
Stocks made a minor gain today, back to their last high. More interesting was that stocks made a new high against gold, the Dow in Gold Dollars closing at G$299.52 (14.489 oz). It appears headed for G$305 (15.062 oz).
Time to remind silver and gold investors what the great H.L. Hunt once said: "Never get really elated in victory; when times are tough, never get down." They'll come back. Just be patient.
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.
