Monday, July 21, 2008

We Ought to See Gold and Silver Prices Surge in the Next Couple of Days

Gold Price Close Today : 963.10
Change: 5.80 or 0.6%

Silver Price Close Today : 18.360
Change: 23 cents or 1.3%

US Dollar Index Today: 72.18
Change: 0 or 0.0%

SILVER and GOLD PRICES hit a short term bottom on Friday. $18.04 and US$950 seem to have been the lows. Their uptrends are intact from the June bottoms, and both metals remain above their 50 and 200 day moving averages.

We ought to see gold and silver prices surge in the next couple of days, then back off once more before the final push that will carry the gold price through US$1,000.00 We could see that price by mid-August.

Y'all ought to be using every day of price weakness to buy more silver and gold.

Today the Dow appears to have rolled over toward the downside for the short term, but over the next month or so might rally -- not that such charm could entice me to buy or hold stocks. It only give y'all a chance to dump your stocks and put the proceeds in silver & gold.

The US DOLLAR INDEX remains in the same downtrend it has wallowed in since the June intraday high at 74.31. It must climb above 72.35 to break out of that channel. I can find no inspiration in the Dollar's chart.

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.