Gold Price Close Today : $913.10
Gold Price Close Yesterday: $880.00
Change: $33.10 or 3.8%
Silver Price Close Today : $17.12
Silver Price Close Yesterday: $16.499
Change: 62 cents or 3.8%
US Dollar Index Today: 72.49
US Dollar Index Yesterday: 72.91
Change: -0.41 or -0.6%
In yesterday's aftermarket the SILVER PRICE had already risen 20 cents and GOLD PRICE six or seven bucks. This morning they exploded. The silver price finished the day up 62 cents, and the gold price up a whopping $33.10. However, let us not be coy. Thrilling as this show is, it meaneth naught unless gold can close through the last high at US$928 and silver can best $18.24. True, on the charts both broke out to the upside today past the dropping trendlines, but the old lows must be beaten to confirm.
What I like least is that gold/silver ratio behaving so strangely. Gold is definitely leading this move, but silver is -- literally -- moving in lock step. What is driving gold? How much fear is stirring out there? In whom? What are they afraid of? There's something bad we don't know about yet, a new crisis or vast extension of the old one.
I can only hope y'all have been paying attention these last few years, and have protected yourselves by buying silver & gold. It's not too late yet.
I reckon the question mark has left the stock market as of today. The Dow has sunk lower than its January 08 low, that is, to a new low for the move since it peaked last October. In dollar terms the Dow sank 3.03%, but that examples how we are lied to. In GOLD terms, the Dow in Gold dollars sank 6.5% today, and in silver the Dow in Silver Ounces sank 6.55%. Don't reckon you'll hear that on CBS, MSNBC, Fox, or National Proletarian Radio's Marketplace.
Dow target (assuming this is not simply the last washout of weakness before a rally) is 10,700. If that can't hold, then 9,750.
Back on 17 March, the DiG
The US DOLLAR INDEX has fallen to its bottom Bollinger Band. It must turn up here or die. Man, that Burpin' Ben Bernanke knows how to run a central bank, don't he?
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. low for the move was G$247.14 (11.955 oz). Today it closed at G$259.30 (12.543oz.), barely G$10 (0.500 oz) above the last low close. The Dow in Silver has behaved the same way. I would swap stocks for silver or gold, now, while there's still time.
The US DOLLAR INDEX has fallen to its bottom Bollinger Band. It must turn up here or die. Man, that Burpin' Ben Bernanke knows how to run a central bank, don't he?
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.
