Gold Price Close Today : 926.10
Change: 3.50 or 0.4%
Silver Price Close Today : $12.965
Change: -1 cents or -0.1
Gold Silver Ratio: 71.43
Change: 0.325 or 0.5%
Dow Industrial: 7,713.41
Change: 104.49 or 1.2%
US Dollar Index Today: 85.54
Change: -0.05 or -0.1%
SILVER and GOLD PRICES continue confused. The gold price rose $3.50 to US$926.10 while the silver price dropped one cent to $12.965. I would feel better seeing gold over $927.00 and above that resistance, so that I could feel it was out of the woods fully.
If you believe it was an accident that the Euro Central Bank announced today that it had sold 35.5 tonnes of gold and the Gang of 20 meeting began in London today, you are the natural prey of people who sell sky-hooks and the Brooklyn Bridge. TV news early this morning showed mobs outside huge Royal Bank of Scotland building in London, throwing bricks through the windows. Wow, it's like old times in the Anglo Saxon world, except that Americans have grown so effete that they no longer riot when financially raped. Rather, they elect Democrats to continue the raping while they gild it with good intentions.
No good can come of the Gang of 20 meeting, but lots of volatility can hit markets, both before and after. Expect no big changes and no big effects. Their glacial progress always moves toward what hurts us, anyway: globalization, centralization, dehumanization. Who needs 'em?
Friends, y'all had better watch out because there are crooks out there without conscience or number. Yesterday a customer called us to report that a firm with a big Internet presence was offering to sell her Elizabeth sovereigns for $390.00 each. At the same hour we were selling them for $242.00 each. Y'all had better check carefully every offer made to you. Divide cost by content to determine price per ounce.
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.