Wednesday, February 25, 2009

Silver and Gold Prices are Presenting Y'all With a Rare Buying Opportunity - Watch, and Don't Miss It

Gold Price Close Today : $965.70
Change: -3.40 or -0.4%

Silver Price Close Today : 13.875
Change: -12 cents or -0.9%

Gold Silver Ratio: 69.60
Change: 0.354 or 0.5%

Dow Industrial: 7,270.89
Change: -80.05 or -1.1%

US Dollar Index Today: 87.78
Change: 0.95 or 1.1%

Silver and gold prices continued correcting today. The Gold Price dropped 3.40 to close at US$965.70 at the Comex close (12:30 Central time), but dropped US$15 in the aftermarket, on no news that I saw. Gold must reckon here with a correction to US$925 - US$890. I expect this weakness will pass quickly, say, two or three weeks at most.

The Silver Price dropped only 12 cents today to $13.8750, but shaved off another 23.5 cents in the aftermarket to $13.64. The same normal, natural correction has hit both metals. Silver has strong support at 13.50,13.20,12.80,12.50, 12.00 and 11.00.

Silver and Gold Prices are presenting y'all with a rare buying opportunity. Watch, and don't miss it.

The Gold/Silver Ratio should rise to 72, maybe as high as 74 again. If it hits 74, swap more gold for silver.

US DOLLAR INDEX rose 95 basis points today, but this volatility resembles the flipping of a big bass after you net him and throw him in the bottom of the boat. It's a grand show, but he ain't going nowhere.

STOCKS dropped 200 points today, but came back (perhaps thanks to the Nice Government men) to down merely 80.05. Banks' status is poisoning the entire market. Poisoning. There is only one solution for America and the world: the banks must be destroyed, and silver an gold money re-established. Everything else is merely installing new carpet on the Graf Zeppelin.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger

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.