Gold Price Close Today : 964.20
Change: -3.30 or -0.3%
Silver Price Close Today : 14.753
Change: 6.5 cents or 0.4%
Platinum Price Close Today: 1288.00
Change: 13.00 or 1.0%
Palladium Price Close Today: 277.35
Change: -4.00 or -1.4%
Gold Silver Ratio Today: 65.36
Change: -0.514 or -0.8%
Dow Industrial: 9,280.97
Change: -39.22 or -0.4%
US Dollar Index: 77.58
Change: -0.14 or -0.2%
Last three days the US DOLLAR INDEX has been bouncing off 77.5 - 77.6. Today it tried to break through that at 77.428 but failed. Tomorrow it will probably succeed.
STOCKS did not like something today. Probably need a rest after failing twice to breach 9,325 Dow. Tomorrow they should dip further, but rally remains in force.
GOLD'S floor moved up today with a 956.95 low, but it spent most of the day above 962. High was 967.92, Comex close was US$964.20, down 3.30. Expect sideways or lower gold prices tomorrow. The larger rally is still going, this is merely a small correction.
SILVER today was bound in the range 14.60 - 14.80. It just couldn't pierce 14.80. Silver could get a 3 day reaction down from here before it mounts another attack on 14.80. Comex silver closed at 14.753, up 6.5 cents.
US DOLLAR depends for its value upon confidence. Yes, it is a confidence game. What grabs my attention by the throat is how many serious people are telling me they no longer trust the US dollar and must get out of it. Friends, this is new. Never heard this before last fall. US regime is losing its core support.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
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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.
