Gold Price Close Today : 880.00
Gold Price Close Yesterday: 889.20
Change: -9.20 or -1.0%
Silver Price Close Today : 16.499
Silver Price Close Yesterday: 16.627
Change: -12.8 cents or -0.8%
US Dollar Index Today: 72.91
US Dollar Index Yesterday: 73.25
Change: -0.34 or -0.5%
SILVER and GOLD PRICES were both depressed today, waiting for the Committee Comrades to deliver their voice from on high. In the aftermarket the silver price rose 20 cents and the gold price rose $5 on relief from the Fed's announcement.
If this is not a good place to buy silver and gold, I don't know what would be. There's support all the way to $16.11. Same goes for gold: buy on this dip. Yes, this back and forth chop is frustrating, but you'll see it as long as this corrective triangle lasts. Be patient: Atlanta wasn't built in a day. It took decades to make a mess like that. Okay, so maybe that wasn't the happiest choice of metaphors. I just do what I can.
What planet do Busted Ben Bernanke and his Goofy Governors live on? In their statement today they opined, "The committee expects inflation to moderate later this year and next year." Duhhh, Gee, Ben, where duz inflashun kum frum? I dunno, jus' drops outta da sky, I guess.
Anyway, they left interest rates alone, until they panic again. The market interpreted that as a betrayal of the dollar so the US DOLLAR INDEX sank 34 points. Great work, Ben, protecting the dollar's purchasing power for the American citizen! Thanks! Hit me again, with a hammer this time, because it feels so good! US dollar index sank, in fact, below 73. Wretched, but it can recover.
And STOCKS! Did Big Ben's move ever help the stock market! The Dow rose -- get this -- four point four points! Yes! Isn't that thrilling? What a man.
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.