Gold Price Close Today : $763.80
Change: -5.00 or -0.7%
Silver Price Close Today : $9.491
Change: -7.3 cents or -0.8%
Gold Silver Ratio: 80.48
Change: -0.091 or -0.1%
Dow Industrials: 8,376.08
Change: -215.61 or -2.5%
US Dollar Index Today: 86.54
Change: -0.32 or -0.4%
The GOLD PRICE closed today right on its 17 day moving average, down $5.00 at $763.80. The SILVER PRICE stands a little below its 17 DMA, down 7.3 cents at $9.491. These days with smaller and smaller moves in gold and silver point to a big move coming soon, up or down. I expect it to move up. Slow markets stay slow just long enough to lull you into inattention, then take off.
The Big Three automaker commissars are testifying and lobbying congress today. Anybody want to take bets that they will not get their 55 jillion dollar bailout? Hey, hey, I also have a 200 pound anvil here. Want to bet that I can climb up on the roof, throw it off, and it will float away into the sky?
Stock market is really working its fans over. Perhaps it has not yet seen its bottom. 200+ points a day moves wear on the nerves.
US DOLLAR INDEX fell 32 basis points today, but without helping silver or gold at all. Dollar is in another downtrend.
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.