Gold Price Close Today : 927.30
Gold Price Close Yesterday: 931.90
Change: -4.60 or -0.5%
Silver Price Close Today : 17.833
Silver Price Close Yesterday: 18.285
Change: -44.7 cents or -2.4%
US Dollar Index Today: 72.72
US Dollar Index Yesterday: 72.72
Change: 0.00 or 0.0%
Wham! The GOLD PRICE fell 4.60 today to 927.30 and the silver price fell 44.7 cents to $17.833. End of the world? Well, think about it. In the forgoing five days, the silver price had gained $1.834. In the same five days the gold price had broken through its old high. Is it any surprise that it touches back to that breakout point? Shouldn't be.
The SILVER PRICE will have to work to climb back to $18.24, but the gold price has held on. We may see a cat fight this week to hold on to these levels, but I cannot shake the notion that gold and silver prices are headed much higher. I would buy dips like this like a country boy buys bananas -- with both hands.
Whoo! That stock market looked sick today. The Dow made three tries early on to break through 11,400, then gave up and wilted to 11,120. About 3:00 p.m. "somebody" (Nice Government Men?) came in buying heavily, but as quickly as it ran up over 11,300, it sank back. However, the NASDAQ Comp rose 13.14 points. That reminds us that a short, shallow rally might happen any time, reacting against the fall so far, but the big trend remains down.
Today the US DOLLAR INDEX stayed flat. Well, at least it didn't sink back toward 72. My mind is slowly turning against the dollar's possibility of rallying. Too many lies and false promises.
Here's a Caroline update: on Saturday after her heart surgery the staff had moved her out of critical care and onto the floor, but they had to take her back to Critical Care on Sunday. Today she is doing much better. Susan and I went up to Nashville to see her, and she looked pretty well but was a little groggy from morphine. Blood oxygen levels have risen and they've cut back the oxygen they're giving her. She's pretty feisty. Thanks very much for your kind e-mails and for your prayers. I'm passing them on to Justin and Ellen.
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.