Gold Price Close Today : 713.30
Change: -20.00 or -2.7%
Silver Price Close Today : 9.5
Change: 4.8 cents or -0.5%
Gold Silver Ratio: 75.08
Change: -2.497 or -3.2%
US Dollar Index Today: 85.22
Change: -0.39 or 1.1%
Yes, yes, I know that I have been urging y'all to buy silver and gold since this monstrous decline started, but I have been neither as crazy or as wrong as I looked. Deliveries for physical silver & gold have now stretched out to ten (10) weeks for what we can get. For 100 oz. silver bars, silver American Eagles, gold American Eagles -- well, you'll be lucky to get any of that by late February or March. So if you bought earlier, you paid more, but you have it by now, or are close to having it.
If today wasn't a bottom in silver & gold prices, I have no idea where they will bottom -- $6 & US$600? Who knows? I don't take any price at face value any longer, don't trust the integrity of any market, so all I can do is use rational & charting guidelines as a guess and go with it. If that turns out wrong, well, we took a long shot in the dark. Better than standing stupified in the dark waiting to be et by a monster.
US DOLLAR INDEX faltered today, dropping 38 basis points to 85.216. It has been moving straight up, & I remind y'all that nothing rises straight up for long, except those helium balloons you bought at the fair when you were a kid, & even those didn't make it to the moon, regardless what your mom told you when you turned loose of yours.
The Gold Price today closed down $20 at US$713.30 and the silver price up 4.80 at 950, an odd non-confirmation. In the after-market the silver price rose nearly 20 cents and the gold price about 9 bucks.
Smile, & keep your powder dry. Ordinary life will return.
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.
