Gold Price Close Today : 907.90
Gold Price Close Friday: 925.60
Change: -17.90 or -1.9%
Silver Price Close Today : 17.425
Silver Price Close Friday: 18.241
Change: -81.6 cents or -4.5%
US Dollar Index Today: 72.38
US Dollar Index Close Last Friday: 73.047
Change: 0.44 or 0.6%
Today's gold and silver trading can be explained in two (2) words: options expiry. The black-shirted thieves who write options attack the price to run it down when they have a big cluster of call options about to expire profitably near market. Or if there is a big cluster of put options at some price near market, they run the price up. Happens nearly every time, and nearly every time they succeed.
Did y'all notice today that the Dow gained a lot, while silver and gold prices lost a lot? Options expiry. When they can move the price, option writers [read: the bullion banks] save themselves zillions.
If that is the reason gold and silver were trashed today, then expect a strong day tomorrow. My interpretation is that we saw a blip only because of options expiry. You will know tomorrow whether that's accurate or not.
Stocks did nothing today. Dollar popped up, but stayed within the same range that has bored us so long. Could be bouncing up off what I was guessing last week was a double bottom.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
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.
