Gold Price Close Today : $924.60
Change: -5.20 or -0.6%
Silver Price Close Today : $12.910
Change: -32 cents or -2.4%
Gold Silver Ratio: 71.62
Change: -1.339 or -1.9%
Dow Industrial: 7,216.97
Change: 0.50 or 0.0%
US Dollar Index Today: 87.06
Change: -0.19 or -0.2%
Now it seems my enthusiasm last week was premature. We're liable to have several weeks of frustrating back and forth trading, with a low range of $12.00- $12.40 for silver and $850 - $890 for gold, and a high of $13.50 and $940. Closes above those highs mean they have broken out, closes below the lows mean deeper correction. Everything inbetween is just noise.
Keep buying silver & gold on dips. Strongly possible they will NOT get near lows cited above.
Stocks lost a few points today, but are building or still higher moves. If you still have stocks, look to sell them from 9400 to 9800.
The dollar index continues to confirm a down trend, down 19 basis points today to 87.06. No reason to expect the dollar to turn around, but a close above 90.50 would signal an upside breakout. Below 87, the market pulls the plug.
Outside it's 65 degrees, sunny, smells like spring, bees are working the little ground flowers, birds are singing, one of our sows had another litter of pigs, & none of my mind is on markets. The mamma of those pigs is a rare Tennessee Red Leopard pig, & of her 11 piglets, three are the unique Tennessee Tiger-striped Red Leopard, a breed found only in one farm in Tennessee.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
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.
