Gold Price Close Today : 935.10
Change: -4.00 or -0.4%
Silver Price Close Today : 13.230
Change: 2.7 cents or 0.2%
Gold Silver Ratio Today: 70.68
Change: -0.448 or -0.6%
Dow Industrial: 8,711.82
Change: 95.61 or 1.1%
US Dollar Index: 79.214
Change: -0.22 or -0.3%
As suspected, the GOLD PRICE backed off a little today before leaping that $940 hurdle. On Comex it closed down $4 at US$935.10. As long as it closes above $928, it's just noise. Look for a leap over US$940 tomorrow. Can US$1,000 gold be far behind?
The SILVER PRICE rose 2.7 cents to close at $13.23 on Comex. This is nice, sweet, but not meaningful. Silver must clear $13.80, soon, and I doubt not that it will.
Keep on buying silver & gold. Much higher prices coming soon. Get out of stocks and US Dollar denominated investments.
US DOLLAR INDEX kept on falling today, down another 21.6 basis points to 79.213. By now the Nice Government Men charged with manipulating the markets must be in a real bind. If they raise the dollar's value, it crashes stocks. If they lower the dollar's value, it sucks confidence away from the already wobbly dollar. What's a fascist apparatchik to do? Favour one for a while, and then the other. Right now it's stocks' turn. A close below 79 takes the dollar index down 200 or so basis points. Be watching.
STOCKS rose again today, the Dow by 95.61 to 8,711.82 and the S&P500 by 8 to 940.74. This will probably be the last party rebound rally I was expecting earlier in the year, and will run to 9,000 or 9,700. Wake up! This is y'all's last chance to sell stocks and put the proceeds into silver and gold. Better grab it.
For those who wondered but didn't write, a "shoat" is a young weaned pig, around here 25 - 80 lb.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
© 2009, The Moneychanger. May not be republished in any form, including electronically, without our express permission.
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.