Gold Price Close Today : 928.00
Gold Price Close Yesterday: 919.50
Change: 8.50 or 0.9%
Silver Price Close Today : 17.998
Silver Price Close Yesterday: 17.671
Change: 32.7 cents or 1.9%
US Dollar Index Today: 71.89
US Dollar Index Close Yesterday: 72.44
Change: -0.55 or -0.8%
SILVER and GOLD PRICES exploded today again. The GOLD PRICE closed at US$928, up $8.50 and past all that resistance from $905 to $925. The gold price today has recovered 48.7% of its fall from US$1,003.20 to US$848.90. That makes the past 2 days performance a bit tricky, because the upward correction could spend itself here. Possible, but not likely. The bottom has already occurred (in my opinion) on 1 May.
The SILVER PRICE has risen more than a dollar in the past two days. Trading today showed $17.60 as a firm floor. At $17.998, the silver price has recovered 58% of its fall from $20.574 to $16.121. Silver has now arrived at "fish or cut bait" time. Understanding that after a buck rise in two days the silver price may relax tomorrow, still, a close over $18 will send the silver price shooting up for the final hurdle, $18.75. And, silver looks ready to do just that. The silver price could be knocking on $19 by Friday.
My, my, the whole financial world seems to have come unstuck at the same time. The US Dollar dropped another 54 basis points today for a total over 100 basis points in two -- yes, two -- days. Looks like it has another couple dozen stories to fall before it hits dirt. Today it's trading at 71.892 while Nymex September Crude Oil is selling at 133.83 a barrel. If the US DOLLAR INDEX cannot hold on above 71.25, then it has begun another leg down.
STOCKS have dropped 427 points in two days, measured by the Dow, while the S&P500 today fell below the psychologically sensitive 1,400 mark. Stocks won't stop before Dow 12,200, most likely. Messy business. Makes it appear their rally has ended.
DOW IN GOLD DOLLARS has just collapsed in the last two days, down G$16.99 (0.820 oz.), from G$297.59 (14.396 oz) to G$280.7 (13.579 oz.). Aren't you glad you sold your stocks & put the proceeds into silver and gold?
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.
