Gold Price Close Today : 939.10
Change: -14.40 or -1.5%
Silver Price Close Today : 13.735
Change: -25.0 cents or -1.8%
Platinum Price Close Today: 1199.80
Change: 34.90 or 3.0%
Palladium Price Close Today: 259.45
Change: 0.95 or 0.4%
Gold Silver Ratio Today: 68.37
Change: 0.193 or 0.3%
Dow Industrial: 9,082.89
Change: -25.62 or -0.3%
US Dollar Index: 78.91
Change: 0.28 or 0.4%
Today I have to write at 1:40 p.m. CST instead of closes, as I must leave early.
As I expected yesterday, the GOLD PRICE dropped today, but by more than expected, down $14.40 to US$939.10. The size of the drop hints at the weakness at US$955. As long as gold remains above US$930, it ought to resume its uptrend shortly.
Gold sneezes, silver gets pneumonia. The SILVER PRICE dropped 25 cents today to $13.7350, bouncing off $14.00. As long as silver remains above $13.25, uptrend remains.
The US DOLLAR INDEX's small move up today, 27.8 basis points to 78.908, argues that gold's drop today was not occasioned by US dollar strength. I am more concerned that gold is not progressing against currencies across the board than I am about the US dollar.
STOCKS here before the close are down slightly. Dow is down 25.62 to 9,082.89 and SAP down 4.19 to 978.06. Do y'all feel like markets are becoming a casino? Hard to make sense out of anything when the world is lurching from crisis to crisis, pushing governments and central banks from radical intervention to never-before-imagined intervention.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
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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.
