Friday, July 11, 2008

This Move in Gold and Silver Will Leave You Disbelieving and Gasping - You Will Underestimate it at Every Turn

Gold Price Close Today : 959.50
Gold Price Close 3rd July: 931.90
Change: 27.60 or 2.5%

Silver Price Close Today : 18.745
Silver Price Close 3rd July: 18.285
Change: 46.00 cents or 3.0%

US Dollar Index Today: 71.891
US Dollar Index Close 3rd July: 72.715
Change: -0.824 or -1.1%

If markets follow through on Monday their work begun today, then things are coming unravelled for the financial system & the US dollar.

STOCKS had a strange day that could have been manipulation or a market ready to rally. Dow made a new low at 10977.68, then about 2:45 (?) "somebody" started buying and it closed the day down only 128.48 points (at 11,100.54) rather than down 250 points. I reckon that's some kind of success. Forget all my pointless talk about a shallow rally, stocks are getting ready to be flushed down the pipes. Get OUT of stocks.

DOW IN GOLD DOLLARS broke to a new low since the 8/1999 high, G$239.15 (11.569 oz)

US DOLLAR INDEX closed barely above 72 after dipping below that level. Now in the aftermarket (6:00 p.m. CDT) it's trading at 71.89. A lower opening on Monday sends the dollar down to 60, or even 55. Get OUT of dollar paying investment -- CDs, annuities, bank deposits, life insurance, & hedge your pension some way with silver & gold.

SILVER and GOLD PRICES ended my suspense today by closing much higher, and through resistance at $945 & $18.25 - $18.35. The gold price closed up $18.60 at $959.50 and the silver price up 50 cents at $18.745 cents. That's it, we're off to the races. This move in gold and silver will leave you disbelieving & gasping. You will underestimate it at every turn.

There are times when a market is "high" that you don't want to buy it. At other times when a market is high, you DO want to buy because it is going HIGHER. Silver and gold just broke out after a long correction: buy the breakout.

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.