Gold Price Close Today : $916.40
Change: -5.20 or -0.6%
Silver Price Close Today : $12.685
Change: -22 cents or -1.7%
Gold Silver Ratio: 72.24
Change: 0.829 or 1.2%
Dow Industrial: 7,395.70
Change: 178.73 or 2.5%
US Dollar Index Today: 86.87
Change: -0.13 or -0.1%
'Twas a day not remarkable, & less interesting for the sunshine and sweet air outside. STOCKS kept on climbing, now above 7,250, another confirmation a rally has begun. Don't let the rally mentality seduce your eyes off the long term. This is a bear market rally only.
US DOLLAR INDEX fell below 87 today to close at 86.871. I expect that break will bring on much more downside.
The GOLD PRICE dropped another $5.20 today to $916.40. The SILVER PRICE fell 22 cents to $12.685. Both remain in the trading range I laid out yesterday, so this is no dramatic development.
Y'all will just have to patiently wait out this range trading. Use any declines to buy more silver and gold.
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.