Gold Price Close Today : 1196.20
Change : (4.50) or -0.4%
Silver Price Close Today : 18.146
Change : (0.083) cents or -0.5%
Platinum Price Close Today : 1543.60
Change : -1.10 or -0.1%
Palladium Price Close Today : 475.70
Change : -1.80 or -0.4%
Gold Silver Ratio Today : 65.92
Change : 0.053 or 0.1%
Dow Industrial : 10,644.25
Change : -54.50 or -0.5%
US Dollar Index : 8.85
Change : 0.135 or 1.5%
GOLD trading today had an artificial and contrived feel to it. Okay, don't blame it on the Nice Government Men. Let's look at it another way. The little peak Friday at $1,210 was corrected back to $1,195 support today. My data says that the gold price touched $1,190.78 at its low, but I never saw that. By the daily chart it happened from 8:00 to 10:00, then gold moved up in a clear five wave pattern with a screaming rise from $1,197 to $1,207 in about ten minutes. Balance of the day it backed off a bit, but never lower than 1202. Also, it touched off $1,202 twice, validating that support. Appears to me the gold price has found its feet and should rise tomorrow.
SILVER posted today's low at 17.95about 8:30 a.m. then spent the day rising in a clear pattern.
More paint work on the tape: Today silver closed down 8.3c at 1814.6c and gold closed at $1,196.20, down 4.50. These were the Comex closes. In the after market gold jumped to $1,204.50 and silver to 1833.5c. Silly, just silly, it is so bogus.
Bottom line is that silver and gold have completed a correction and now will begin rising again. The longer you wait, the more they will cost.
STOCKS today vindicated my forecast weakness when they fell to the bottom boundary of their upward wedge formation. Argghh! The upward wedge foretells a downside breakdown, but today's move did not violate that bottom boundary -- not enough for a breakdown. So we may see another spike up, but the time bomb is already ticking, never fear. Stay away from stocks, sell any you still own.
US DOLLAR INDEX rallied today from the get-go, and by 10:30 had climbed to 81.53 from yesterday's 80.70. About then the world woke up and began selling the dollar. It sank to about 81.25 and suddenly somebody pulled the plug --bang. Down it came to 80.65 in about 10 minutes, but recovered enough to trade now at 80.846, up 13.5 basis points from yesterday.
There's more: the Dollar's MACD barely turned up today. It's trading at the bottom of its Bollinger Band. The dollar is trying to bottom, trying, trying. As long as it holds 80, it will still be in that process.
SPECIAL OFFER:
Doing an inventory I found two items I rarely sell because of their high premiums, namely, 1/10 Maple Leaves and 1/10 American Eagles. I want to sell them, so will make this deal. I will sell either for $137.00 each, but won't mix them. In other words, you have to buy all 1/10 Maples or all 1/10 American Eagles. To mix them, you'll have to buy a lot of one and a lot of the other.
Minimum order is a lot of Twenty (20) pieces, or 20 x $137 = $2,740. Spot gold basis is $1,204.20.
You may order more than 20 pieces of either, but only in increments of ten (10), so I will sell you 20 or 30, or 50, but not 24 or 37.
Add $25.00 per order for shipping.
First come, first served, and no re-orders at these prices. Last person to order will get an odd number because I have 99 ea. 1/10 Maple Leaves and 132 ea. 1/10 American Eagles.
Ordering Instructions:
1. You may order by e-mail only to [email protected] .
Your email MUST include your complete name, address, and phone number please mention you saw this offer on goldprice.org. We cannot ship to you without your address. Sorry, we cannot ship outside the United States.
2. Orders are on a first-come, first-served basis until supply is exhausted.
3. "First-come, first-served" means that we will enter the orders in the order that we receive them by email.
4. If your order is filled , we will email you a confirmation. If you do not receive a confirmation, you order was not filled.
5. You will need to send payment by personal check or bank wire (either one is fine) within 48 hours. It just needs to be in the mail, not in our hands, in 48 hours.
6. We will allow fourteen (14) days for personal checks to clear before we ship. If your hurry is greater than that, you can send a bank wire. Once we ship, the post office takes four to fourteen days to get the registered mail package to you. All in all, you'll see your order in about one month.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2010, 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. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don't.
