Gold Price Close Today : 735.90
Change: 3.30 or 0.5%
Silver Price Close Today : 9.310
Change: -24 cents or -2.5%
Gold Silver Ratio: 79.04
Change: 2.332 or 3.0%
Dow Industrials: 7,997.28
Change: -427.47 or -5.1%
US Dollar Index Today: 87.75
Change: 0.54 or 0.6%
Oooo . . . Today was a scary one. Stocks? Scary. The Dow dropped below 8000, and even a few points demoralizes buyers. It dropped today 427 points to stop at 7,997.28. S&P fell worse, down 52.54 points to 806.58. This is the third drop toward this same area, & truth to tell, markets only very rarely make triple bottoms. On third tries they usually break through. The Dow in Gold Dollars (DiG$) closed way down today at G$224.67 (10.867 oz) dropping through support toward the October low. Rest of November won't bring comfort to stock investors.
The US DOLLAR INDEX rose today, 54 Basis points, to 87.75. Ponder -- it remains below 88, which has stymied it so far twice, and looks ready to break down again. When it does, it will be Katy bar the door for silver and gold prices. Speaking of silver and gold, gold was firmer today and silver was mushier. Yesterday silver rose while gold fell slightly, today that was reversed. This bespeaks some confusion in the market. The big sellers have shot their wad without being able to break the market further.
Sellers are disappearing. Both silver and gold charts are beginning to display marks of rounding bottoms. If you haven't already bought, buy now. On the nervous side, I don't welcome the $38 & $34 drops in platinum & palladium today. Maybe other markets are bracing themselves for a stock drop?
On this date in 1919 the U.S. Senate rejected the Treaty of Versailles (& the League of Nations). That was before they had learned their globalist duty, back when they still had spines.
On this day in 1993, on the other hand, the US Senate voted for the North American "Free Trade" Agreement (NAFTA), doing its utmost to reduce the American economy to 5th World status. What a difference a spine makes!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at:"
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.