Gold Price Close Today : $905.10
Change: 16.90 or 1.9%
Silver Price Close Today : $12.140
Change: 18.2 cents or 1.5%
Gold Silver Ratio: 74.56
Change: 0.279 or 0.4%
Dow Industrial: 8,149.80
Change: -225.65 or -2.7%
US Dollar Index Today: 85.29
Change: 0.72 or 0.9%
I've been wondering all week why silver was refusing to follow gold and drop. Today, gold explained. After dropping for five days, gold today turned around and performed the first half of a key reversal (break into new low ground with a higher close on the day, followed by a higher close next day).
After a low today at 873.95, gold closed higher at 905.10. Then in the aftermarket it climbed another 3.50. Silver closed higher than yesterday, at 12.14 (up 18.2 cents then jumped to a new high in the aftermarket. Whatever it means, at least silver and gold ought to rise further tomorrow. Gold needs to close above US908.50 tomorrow (last high) to put the second half of the key reversal into place. Silver and gold prices were strong today in the face of US Dollar Index strength as well.
If it weren't for the Nice Government Men on the Plunge Protection Team, I don't reckon anybody at all would be buying stocks. They have a good day, rise a couple of hundred points even, then fall back that much or more next day. Natural markets don't act this way. Y'all smell something?
The Experts Speak: "When the US govenrment stops wasting our resources by trying o maintain the price of gold, its price will sink to . . . $6 an ounce rather than the currency $35 an ounce." -- Henry Reuss, Chmn. Of the Joint Economic Committee of Congress, 25 Nov. 1967.
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.
