Gold Price Close Today : $846.20
Change: 9.30 or 1.1%
Silver Price Close Today : $10.829
Change: 10 cents or 0.1%
Gold Silver Ratio: 78.14
Change: 0.787 or 1.0%
Dow Industrials: 8,519.69
Change: -59.42 or -0.6%
US Dollar Index Today: 81.24
Change: -0.06 or -0.1%
Stocks are still mired in the swamp, but the rallying dollar lost its mojo today against silver and gold.
The GOLD PRICE closed today up $9.30 at $846.20, still trying to break through the $850 barrier. The SILVER PRICE rose a penny to close at $10.8290. No big shakes there.
Expect silver and gold to trade sideways until the end of the year. The dollar is trying to rally, and a lot of investors are holding their breath ahead of next year, uncertain what to do, hoping the government and the Fed can pull a rabbit out of the hat, but disbelieving -- about like an 11-year old looking at Santa Claus.
After the first of the year Stocks ought to stage a four-month rally. US DOLLAR INDEX slowed nearly to a stop today, at around 81.25. Dollar's rally was strictly of the corrective type, so Dollar will resume its plunge shortly, probably around the beginning of 2009.
Our office will be closed for needful repairs from 24 December through 2 January 2009. During that time we will not be returning voice mails or writing trades. However,you can e-mail us if you like.
I will try to get one last commentary out before year end. May God bless you all with peace and goodwill, at Christmastime and always. Today is the Winter Solstice in the Northern Hemisphere, the shortest day in the year and the day the sun appears at its furthest south in the sky. Go ahead -- light your Yule log tonight!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at:"
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.
