Gold Price Close Today : 1,620.40
Gold Price Close 23-Sep : 1,637.70
Change : -17.30 or -1.1%
Silver Price Close Today : 3004.1
Silver Price Close 23-Sep : 3006
Change : -1.90 or -0.1%
Gold Silver Ratio Today : 53.940
Gold Silver Ratio 23-Sep : 54.48
Change : -0.54 or -1.0%
Silver Gold Ratio : 0.01854
Silver Gold Ratio 23-Sep : 0.01836
Change : 0.00018 or 1.0%
Dow in Gold Dollars : $ 139.22
Dow in Gold Dollars 23-Sep : $ 135.96
Change : $ 3.26 or 2.4%
Dow in Gold Ounces : 6.735
Dow in Gold Ounces 23-Sep : 6.577
Change : 0.16 or 2.4%
Dow in Silver Ounces : 363.28
Dow in Silver Ounces 23-Sep : 358.33
Change : 4.95 or 1.4%
Dow Industrial : 10,913.38
Dow Industrial 23-Sep : 10,771.48
Change : 141.90 or 1.3%
S&P 500 : 1,131.42
S&P 500 23-Sep : 1,136.00
Change : -4.58 or -0.4%
US Dollar Index : 78.572
US Dollar Index 23-Sep : 78.356
Change : 0.216 or 0.3%
Platinum Price Close Today : 1,527.00
Platinum Price Close 23-Sep : 1,610.40
Change : -83.40 or -5.2%
Palladium Price Close Today : 611.00
Palladium Price Close 23-Sep : 641.10
Change : -30.10 or -4.7%
GOLD and SILVER are bewildered and indecisive. Yesterday gold fell 60 cents and silver rose 38.8c, today silver fell 43.1c to 3004.1c while gold rose $4.90 to $1,620.40. Gold's range was 1.75%, from 1634.15 to $1,606.93. Silver range was 5%, from 3116c to 2968.5c. Silver was jumpy and hard to trade, kept drifting below 3000c and hitting 10c air pockets.
The Gold Price did nothing today to resolve the ambiguity it left us in yesterday. Like a coil, its range is tightening and tightening, meaning selling pressure and buying pressure are about evenly matched here, but both are pushing with all their might. Like evenly match wrestlers (real wrestlers, not the TV masqueraders), one or the other will break the hold. Frankly, for the very short term, next week, it could go either way. A rally to $1,700 - $1,725 would not surprise me, but I still have to stand on my watchtower, looking for lower prices.
Here are the boundaries for gold: short term range is bounded by 1640 and 1580. Longer term, it's bounded by $1,675 (let's say $1,725 for genuine believability) and $1,540. A breach of those levels will speed it along in the direction of the breakout.
For the Silver Price, the boundaries are 3125c to 2900c short term, and 3350c and 2600c longer term.
What about other considerations? The Gold Price has already hit its 150 day moving average (now $1,580.35), a frequent limit to gold corrections, and bounced off. $1,550 offers strong lateral support, but $1,435 is stronger.
The Silver Price today hit and smashed its 300 dma (3164c)which in the past has generally contained declines, although silver might trade below that mark for a little while. If the strong support at $2600 doesn't hold, then reckon with 2500c, even 2000c.
Better get your balance. For the next 3 - 6 months a deflation scare will be all the talk of the Mighty on the TV, etc. Dollar will rally, stocks will swoon, silver and gold will slug along, maybe trend down. All the talk will be of deflation, while in fact the chance that the monetary institutional set up of the US government, central bank, and financial system will fall into real deflation is somewhat smaller than the chance of my being crowned King and Chief Chicken Catcher of Umbazziland. Once the deflation scare catches hold, the Bernancubus and his running dogs in Europe and elsewhere will puke out money like Old Faithful. So y'all keep your eyes on the horizon, not the road right in front of your car hood, and know that this precious metals bull market remains intact.
Gold/Silver ratio, by the way, rose this week and we are still targetting 57.5 for a swap from gold to silver.
Despite a very rough week for silver and gold, at week's end the scores haven't changed very much.
"Buy the rumor, sell the news," counsels the market proverb. News came this week with the German Bundestag agreeing to back the bail-out for Europe's rotten sovereign debt, demonstrating that the banks own as many German politicians as they do American. The rumor of that event drove stocks up this week. When the news came they'd done it, twas time to sell stocks. They fell again today to prove it to you.
One of my oldest friends and mentors, EH, reminded me today, in the teeth of the new Bimbo Financial Journalists and other newly discovered investing geniuses commenting on TV, to compare gold's performance against stocks. This arises because these lamebrains keep on propagandizing a non-existent bull market in stocks, and prophesying the end of gold. Let us therefore drag out the dusty and uncomfortable facts:
Gold from 12/31/10 to 9/30/11, up 14%; stocks, down 5.7%.
Gold from 9/30/10 to 9/30/11, up 23.9%; stocks, up a mighty 1.2%.
Let us hear no more bloviating from the financial parvenus and pimps.
Stocks today lost 1.38% or 153.98 points to close dead on Dow 11,000. S&P500 lost 17.98 or 1.55% to close 11,142.42.
I may be no more than a natural born durned fool from Tennessee, but leastways I have enough math to cipher percentages, even if I ain't no TV commentator with a pretty face and a low cut blouse or and ugly face and a shirt and tie.
Dow has been trending downward -- lower highs, lower lows, for the education of TV financial journalists -- since Monday. Dow in the last week and a half has traded DOWN through the short term (since August) uptrend line which experience saith portendeth lower prices.
STOCKS -- they are the wooden minnow baiting the hook for Investors.
US DOLLAR INDEX continues to rally, never mind how hard the Nice Government Men from Fed and Treasury try to slap it down. This week it successfully posted a rounding bottom, scooping down from Monday's 78.80 high and trading right now at 78.792.
The wretched Euro gapped down again today in its slide to perdition, or 1.3000, whichever comes first. Closed 1.3388, down 1.51% and a new low for the move. Somebody oughta FIRE those European NGM, cause they ain't doing their job. Nipponese Yen appears tamed today, at least closing at 129.79c/Y100 (Y77/$1) below its 20 dma (130.08) and right at the top border of an even-sided triangle.
Y'all enjoy your holiday!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose.
Friday, September 30, 2011
Thursday, September 29, 2011
Unless the Gold Price Batters Through that $1,620 Ceiling and the Silver Price Through 3100c, Lower Prices Lay in Store
Gold Price Close Today : 1615.50
Change : (0.60) or 0.0%
Silver Price Close Today : 30.472
Change : 0.388 or 1.3%
Gold Silver Ratio Today : 53.02
Change : -0.704 or -1.3%
Silver Gold Ratio Today : 0.01886
Change : 0.000247 or 1.3%
Platinum Price Close Today : 1528.00
Change : -3.00 or -0.2%
Palladium Price Close Today : 623.00
Change : 0.00 or 0.0%
S&P 500 : 1,160.40
Change : 9.34 or 0.8%
Dow In GOLD$ : $142.73
Change : $ 1.90 or 1.3%
Dow in GOLD oz : 6.904
Change : 0.092 or 1.3%
Dow in SILVER oz : 366.04
Change : 0.04 or 0.0%
Dow Industrial : 11,153.98
Change : 143.08 or 1.3%
US Dollar Index : 77.93
Change : 0.078 or 0.1%
Metals put in a mixed close day. The GOLD PRICE gained a microscopic 60 cents to close Comex at $1,615.50 while the SILVER PRICE gained 38.8c to close 3047.2c, but didn't break through 3100c resistance or even 3050c, although in the aftermarket it has climbed to 3072.5c.
Ambivalence, ambivalence, all is ambivalence! The SILVER PRICE has established support at 2900c, but cannot climb through 3100c. The GOLD PRICE has some sort of floor at 1580, but cannot break through the $1,620 ceiling. All this has unfolded against a background of lower highs and lower lows, i.e., a downtrend.
Thus we must conclude that unless the GOLD PRICE batters through that $1,620 ceiling and the SILVER PRICE through 3100c, lower prices lay in store. However I caution that gold and silver could still rally up to the bottom of that consolidation area, about $1,750, seem strong as a garlic milkshake, then step into an elevator shaft.
Be patient, be patient. Buy some if you just can't stand the wait, but be patient.
What doth one say about a market that rises to a high of 11,269, then gives up 40% of that 259 point gain to close at only 11,153.98, up 1.3%? One sayeth, "The Dow is tapped out." S&P500 rose a feebler 9.34 (0.81%) to close 1,160.40.
All this, remember, was riding the crest of the euphoric wave pouring out of Euroland because the German Bundestag voted today to sell out Germany to the banks, i.e., back the
Bucket for Sovereign Debt a.k.a. euro bailout fund hung with the cosmically impossible name of European Financial Stability Facility. Sounds like some place you'd get your oil changed when your Volvo engine's running too hot.
Durned if the eurocrats aren't getting away with turning the crisis to their advantage and increasing their centralized tyranny!
It is historically ironic that Germany now has all she fought for in two world wars, but without the bloodshed: the Fourth Reich. I went to school in Germany and am a great admirer of German culture and civilization, except for the Nazi aberration. Remember that the German Empire began to be built on the ruins of Rome with Charlemagne (768-814 a.d.) and was officially founded as the First Reich with the crowning of Otto I in 962. (Remember that the Franks like Charlemagne were really Germans who settled in France, so ultimately the French are really Germans, or the Germans are French, and I'm my own grandpa.) The First Reich lasted until Francis II abdicated in 1806. The Second Reich came with the founding of the Prussian empire upon the defeat of the French (those "other" Germans) in 1871 with Wilhelm I. That Reich ended in 1918 when Wilhelm II "the Incompetent" abdicated. Then the Nazis came along and, as they always so skillfully did, co-opted existing symbols while filling them with wholly new meaning. (Think of the Hakenkreuz or swastika used to replace the Christian cross.) Anyway, the Nazis proclaimed the Third Reich, and that ended with Hitler in 1945. Later skilful German statesmen worked to set up a European political order that would be peaceful and prosperous, but somewhere along the way that metastasized into the European bureaucracy. Bottom line is, today the Germans are the lynchpin, not to say the rulers, of the Eurozone. The ancient Reich has been revived. And in Asia, the Japanese have hegemony in the "Greater East Asia Co-Prosperity Sphere" they sought to establish by force 1905 - 1945. Ironically enough, most of the big German and Japanese corporations from those "bad" years are still around, Mitsubishi, e.g., making cars instead of Zero fighter planes, Krupp, Siemens, etc. Governments and dictatorships may come and go, but corporations are forever. The US won the war, while the corporations stole the peace.
Whoa! Sorry, I got clean off point. Back to today's markets.
US DOLLAR INDEX was 77.93 when I began writing this, up only 7.8 basis points, but now is trading over 78 at 78.028, up 0.23%. SOMEbody (read: Nice Government Men) keeps slapping the dollar down every time it pokes its uppity head above 78. That won't last forever, and the dollar will move higher. Poor, pitiful Euro rose a little today, 0.38%, to 1.3593, ready to begin its next plunge. Yen dropped 0.34% to 130.18c/Y100 (Y76.81/$1). Japanese NGM have still not chastised and tamed their wayward currency.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don't.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Change : (0.60) or 0.0%
Silver Price Close Today : 30.472
Change : 0.388 or 1.3%
Gold Silver Ratio Today : 53.02
Change : -0.704 or -1.3%
Silver Gold Ratio Today : 0.01886
Change : 0.000247 or 1.3%
Platinum Price Close Today : 1528.00
Change : -3.00 or -0.2%
Palladium Price Close Today : 623.00
Change : 0.00 or 0.0%
S&P 500 : 1,160.40
Change : 9.34 or 0.8%
Dow In GOLD$ : $142.73
Change : $ 1.90 or 1.3%
Dow in GOLD oz : 6.904
Change : 0.092 or 1.3%
Dow in SILVER oz : 366.04
Change : 0.04 or 0.0%
Dow Industrial : 11,153.98
Change : 143.08 or 1.3%
US Dollar Index : 77.93
Change : 0.078 or 0.1%
Metals put in a mixed close day. The GOLD PRICE gained a microscopic 60 cents to close Comex at $1,615.50 while the SILVER PRICE gained 38.8c to close 3047.2c, but didn't break through 3100c resistance or even 3050c, although in the aftermarket it has climbed to 3072.5c.
Ambivalence, ambivalence, all is ambivalence! The SILVER PRICE has established support at 2900c, but cannot climb through 3100c. The GOLD PRICE has some sort of floor at 1580, but cannot break through the $1,620 ceiling. All this has unfolded against a background of lower highs and lower lows, i.e., a downtrend.
Thus we must conclude that unless the GOLD PRICE batters through that $1,620 ceiling and the SILVER PRICE through 3100c, lower prices lay in store. However I caution that gold and silver could still rally up to the bottom of that consolidation area, about $1,750, seem strong as a garlic milkshake, then step into an elevator shaft.
Be patient, be patient. Buy some if you just can't stand the wait, but be patient.
What doth one say about a market that rises to a high of 11,269, then gives up 40% of that 259 point gain to close at only 11,153.98, up 1.3%? One sayeth, "The Dow is tapped out." S&P500 rose a feebler 9.34 (0.81%) to close 1,160.40.
All this, remember, was riding the crest of the euphoric wave pouring out of Euroland because the German Bundestag voted today to sell out Germany to the banks, i.e., back the
Bucket for Sovereign Debt a.k.a. euro bailout fund hung with the cosmically impossible name of European Financial Stability Facility. Sounds like some place you'd get your oil changed when your Volvo engine's running too hot.
Durned if the eurocrats aren't getting away with turning the crisis to their advantage and increasing their centralized tyranny!
It is historically ironic that Germany now has all she fought for in two world wars, but without the bloodshed: the Fourth Reich. I went to school in Germany and am a great admirer of German culture and civilization, except for the Nazi aberration. Remember that the German Empire began to be built on the ruins of Rome with Charlemagne (768-814 a.d.) and was officially founded as the First Reich with the crowning of Otto I in 962. (Remember that the Franks like Charlemagne were really Germans who settled in France, so ultimately the French are really Germans, or the Germans are French, and I'm my own grandpa.) The First Reich lasted until Francis II abdicated in 1806. The Second Reich came with the founding of the Prussian empire upon the defeat of the French (those "other" Germans) in 1871 with Wilhelm I. That Reich ended in 1918 when Wilhelm II "the Incompetent" abdicated. Then the Nazis came along and, as they always so skillfully did, co-opted existing symbols while filling them with wholly new meaning. (Think of the Hakenkreuz or swastika used to replace the Christian cross.) Anyway, the Nazis proclaimed the Third Reich, and that ended with Hitler in 1945. Later skilful German statesmen worked to set up a European political order that would be peaceful and prosperous, but somewhere along the way that metastasized into the European bureaucracy. Bottom line is, today the Germans are the lynchpin, not to say the rulers, of the Eurozone. The ancient Reich has been revived. And in Asia, the Japanese have hegemony in the "Greater East Asia Co-Prosperity Sphere" they sought to establish by force 1905 - 1945. Ironically enough, most of the big German and Japanese corporations from those "bad" years are still around, Mitsubishi, e.g., making cars instead of Zero fighter planes, Krupp, Siemens, etc. Governments and dictatorships may come and go, but corporations are forever. The US won the war, while the corporations stole the peace.
Whoa! Sorry, I got clean off point. Back to today's markets.
US DOLLAR INDEX was 77.93 when I began writing this, up only 7.8 basis points, but now is trading over 78 at 78.028, up 0.23%. SOMEbody (read: Nice Government Men) keeps slapping the dollar down every time it pokes its uppity head above 78. That won't last forever, and the dollar will move higher. Poor, pitiful Euro rose a little today, 0.38%, to 1.3593, ready to begin its next plunge. Yen dropped 0.34% to 130.18c/Y100 (Y76.81/$1). Japanese NGM have still not chastised and tamed their wayward currency.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don't.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Wednesday, September 28, 2011
For Now Silver and Gold Prices Remain in a Down Trend
Gold Price Close Today : 1616.10
Change : (34.50) or -2.1%
Silver Price Close Today : 30.084
Change : (1.400) or -4.4%
Gold Silver Ratio Today : 53.72
Change : 1.293 or 2.5%
Silver Gold Ratio Today : 0.01862
Change : -0.000459 or -2.4%
Platinum Price Close Today : 1531.00
Change : -35.00 or -2.2%
Palladium Price Close Today : 623.00
Change : -27.00 or -4.2%
S&P 500 : 1,151.06
Change : -24.32 or -2.1%
Dow In GOLD$ : $140.84
Change : $ 0.71 or 0.5%
Dow in GOLD oz : 6.813
Change : 0.034 or 0.5%
Dow in SILVER oz : 366.01
Change : 10.56 or 3.0%
Dow Industrial : 11,010.90
Change : -179.79 or -1.6%
US Dollar Index : 77.92
Change : 0.414 or 0.5%
Sobriety visited the stock market today, and no one was much pleased to meet her.
Dow made raggedy attempts to rise, but about 1:00 Reality and Sobriety began selling, and from there it was all downhill and Katy-bar-the-door. Dow sank 1.61% (179.79 points) to 11,010.90, vomiting back all yesterday's gains and part of the day before's. S&P lost 2.07% (24.32 points) to 1,151.06. Gone are the visions of the Great Bucket taking away all the sovereign debt problems, and returned are the grim facts of economic outlook.
In Europe the eurocrats are leveraging the crisis to further their schemes of centralizing more power. Wow, now there's a surprise.
US DOLLAR INDEX yesterday made the "final kiss good-bye" to its breakout point, and today gained 41.4 basis points (0.5%). Dollar's liable to run strong for a week or so, and today was already tapping on 78. The 50% retracement of the decline that began mid-2010 and bottomed in May 2011 is 80.58.
The Franken-currency, the euro, continues to tumble since falling out of its trading range earlier this month. Today closed down a hair at 1.3545. Count on seeing 1.3000, and wait on 1.2000. Japanese yen remains on the upward side of a breakout and above its 20 dma. Closed today at 130.66c/Y100 (Y73.53=$1).
It's a good thing markets are so tough to parse, otherwise the Riviera would be chockablock with successful investors and the room prices would skyrocket. But as it is, just about the time you think you understand what the market is doing, it pulls out the rug and your forehead dives into the concrete.
Take SILVER and GOLD. They fell today, right sharply. Silver lost 140c, most of yesterday's 157c gain, to close at 3008.4c. Oddly enough, Friday's close was 3006c, about the same. Gold closed Comex at $1,616.10, down $34.50. Clearly, resistance at $1,675 yesterday has proven victorious, but gold couldn't be broken below $1600 -- today's low hit $1,598.60.
So you look at that and the last few day's trading, and naturally your little mind extends that fall indefinitely out into the future. But the premium on US 90% silver coin rose yesterday, and today again. Now wholesalers are buying 90% at 85c an ounce under spot and selling at 25c over. Look over your shoulder, too, at that Gold/Silver Ratio, which broke out over 45.50 resistance and has traded as high as 54.481.
These things argue AGAINST lower prices. The SILVER PRICE defended 2950c today, too, and if it can hold that, then Monday becomes a spike bottom. The GOLD PRICE defended the $1,600 level in like manner. So far, so good, but the past 3 days action also might be a reaction to a low, rolling over and turning down once again.
As I said, if this was easy, we'd all be living on the Riviera, smoking two dollar seegars, drinking Ripple, eating gooey-center bon-bons and driving big Chevys. Scoping these markets is all the more tricky because so many huge traders use computer programs, which exacerbates, accelerates, and exasperates every move up or down.
But I am anticipating. For now SILVER and GOLD PRICES remain in a down trend and have done nothing to contradict that. Be patient, keep your money dry and ready to buy more silver and gold.
I apologize that our phones have been so jammed since Friday that we have not been able to return calls timely. Please forgive us. For those of you who want to swap GOLD for SILVER at our trigger point 57.5, I suggest that rather than try to reach us while everybody in the world wants to make a trade or ask a question, you enter an open order with us. That way when the market hits the trigger, we enter the order, but you need to understand that an open order is just like entering an order with us by phone. Unless you call and terminate it before the market hits the trigger price, we will enter the order and cannot later change or cancel it. To enter an open order you must make a $200 deposit, refunded when the order is entered or if you terminate the order before it is entered.
For a letter that explains all this and offers a form for the open order, please send us an email at with "Open Order Letter" in the subject line.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don't.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose.
Change : (34.50) or -2.1%
Silver Price Close Today : 30.084
Change : (1.400) or -4.4%
Gold Silver Ratio Today : 53.72
Change : 1.293 or 2.5%
Silver Gold Ratio Today : 0.01862
Change : -0.000459 or -2.4%
Platinum Price Close Today : 1531.00
Change : -35.00 or -2.2%
Palladium Price Close Today : 623.00
Change : -27.00 or -4.2%
S&P 500 : 1,151.06
Change : -24.32 or -2.1%
Dow In GOLD$ : $140.84
Change : $ 0.71 or 0.5%
Dow in GOLD oz : 6.813
Change : 0.034 or 0.5%
Dow in SILVER oz : 366.01
Change : 10.56 or 3.0%
Dow Industrial : 11,010.90
Change : -179.79 or -1.6%
US Dollar Index : 77.92
Change : 0.414 or 0.5%
Sobriety visited the stock market today, and no one was much pleased to meet her.
Dow made raggedy attempts to rise, but about 1:00 Reality and Sobriety began selling, and from there it was all downhill and Katy-bar-the-door. Dow sank 1.61% (179.79 points) to 11,010.90, vomiting back all yesterday's gains and part of the day before's. S&P lost 2.07% (24.32 points) to 1,151.06. Gone are the visions of the Great Bucket taking away all the sovereign debt problems, and returned are the grim facts of economic outlook.
In Europe the eurocrats are leveraging the crisis to further their schemes of centralizing more power. Wow, now there's a surprise.
US DOLLAR INDEX yesterday made the "final kiss good-bye" to its breakout point, and today gained 41.4 basis points (0.5%). Dollar's liable to run strong for a week or so, and today was already tapping on 78. The 50% retracement of the decline that began mid-2010 and bottomed in May 2011 is 80.58.
The Franken-currency, the euro, continues to tumble since falling out of its trading range earlier this month. Today closed down a hair at 1.3545. Count on seeing 1.3000, and wait on 1.2000. Japanese yen remains on the upward side of a breakout and above its 20 dma. Closed today at 130.66c/Y100 (Y73.53=$1).
It's a good thing markets are so tough to parse, otherwise the Riviera would be chockablock with successful investors and the room prices would skyrocket. But as it is, just about the time you think you understand what the market is doing, it pulls out the rug and your forehead dives into the concrete.
Take SILVER and GOLD. They fell today, right sharply. Silver lost 140c, most of yesterday's 157c gain, to close at 3008.4c. Oddly enough, Friday's close was 3006c, about the same. Gold closed Comex at $1,616.10, down $34.50. Clearly, resistance at $1,675 yesterday has proven victorious, but gold couldn't be broken below $1600 -- today's low hit $1,598.60.
So you look at that and the last few day's trading, and naturally your little mind extends that fall indefinitely out into the future. But the premium on US 90% silver coin rose yesterday, and today again. Now wholesalers are buying 90% at 85c an ounce under spot and selling at 25c over. Look over your shoulder, too, at that Gold/Silver Ratio, which broke out over 45.50 resistance and has traded as high as 54.481.
These things argue AGAINST lower prices. The SILVER PRICE defended 2950c today, too, and if it can hold that, then Monday becomes a spike bottom. The GOLD PRICE defended the $1,600 level in like manner. So far, so good, but the past 3 days action also might be a reaction to a low, rolling over and turning down once again.
As I said, if this was easy, we'd all be living on the Riviera, smoking two dollar seegars, drinking Ripple, eating gooey-center bon-bons and driving big Chevys. Scoping these markets is all the more tricky because so many huge traders use computer programs, which exacerbates, accelerates, and exasperates every move up or down.
But I am anticipating. For now SILVER and GOLD PRICES remain in a down trend and have done nothing to contradict that. Be patient, keep your money dry and ready to buy more silver and gold.
I apologize that our phones have been so jammed since Friday that we have not been able to return calls timely. Please forgive us. For those of you who want to swap GOLD for SILVER at our trigger point 57.5, I suggest that rather than try to reach us while everybody in the world wants to make a trade or ask a question, you enter an open order with us. That way when the market hits the trigger, we enter the order, but you need to understand that an open order is just like entering an order with us by phone. Unless you call and terminate it before the market hits the trigger price, we will enter the order and cannot later change or cancel it. To enter an open order you must make a $200 deposit, refunded when the order is entered or if you terminate the order before it is entered.
For a letter that explains all this and offers a form for the open order, please send us an email at
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose.
From whatever Low Silver and Gold Prices Eventually Make, they Will Rocket Back to Double, Triple, or Quadruple that Low
Gold Price Close Today : 1,650.60
Change : 58.10 or 3.5%
Silver Price Close Today : 31.49
Change : 1.57 or 5.0%
Platinum Price Close Today : 1,574.00
Change : 27.10 or 1.7%
Palladium Price Close Today : 649.00
Change : 22.55 or 3.5%
Gold Silver Ratio Today : 52.42
Change : -0.81 or 0.98%
Dow Industrial : 11,043.86
Change : 272.38 or 2.5%
US Dollar Index : 78.12
Change : -0.14 or -0.2%
Think of a waterfall. The water flows over the edge of a cliff, plummets to a pool below, splashes high up from the pool, then falls again to a lower pool.
That pretty well describes and forecasts waterfall declines in markets, such as what y'all saw in SILVER and GOLD PRICES the last four days. When anything falls that far that straight down, it is bound to bounce. The bounce may last quite a while, the bounce may look stronger than a garlic milkshake, but it fails at last.
I confess I am no more than a natural born fool from Tennessee, and fools -- the better fools, anyhow -- know enough to doubt themselves. Thus I might be wrong and there may be no lower prices in the futures than those already observed, but fool that I am, I still expect to see them.
And bad as I got whipped by swapping out of SILVER into GOLD too soon, I am willing to risk waiting too long now by shooting for a higher target (57.5:1) than today's 51.638. May be wrong, but at least I won't be whipping myself for being rash.
In a bounce worthy of Superman, the GOLD PRICE today shot up $57.90 (3.6%) to $1,650.60 at Comex close. High was $1,676.65, low $1,630.89.
Hard for me to judge the 5 day chart and say whether the rise has ended or not, but plain enough is mighty resistance beginning at $1,700 and rising above like the Great Wall of China. This can go on for weeks with great frustration, trading sideways, rallying, fading, rallying again. Y'all need great patience, and 'twill pay off.
The SILVER PRICE out-did GOLD by rising 5.25% (157c) to close Comex at 3149.7c. High, however, was 3347c, so SILVER gave back about half its gains. Stiffest resistance awaits silver at 3400c, then 3600c.
One complication of waiting for lower SILVER PRICES is what happened in 2008. While the paper price dropped to 880c, the price for physicals never dropped below 1200c. Shortages emerged, and people just asked higher and higher premiums for whatever silver they had. Still, I have to wait for lower prices. I understand this will win me no bonus points with the silver and gold cheerleaders, but the chart says what it says.
Do not misunderstand anything I have written above. You are watching a major correction in silver and gold, but not by any means the end of the bull market. From whatever low they eventually make, they will rocket back to double, triple, or quadruple that low. That's why this correction offers you such a rare opportunity to shoot fish in a rain barrel.
About palladium: it broke about $700 then fell to $605. Today it closed at $648. Platinum broke about $1750, and yesterday's low was $1,475.30. Today it recovered to $1,558. None of this is helpful to silver and gold.
Stocks staged a love fest around the globe yesterday and today, which only demonstrates that the public is even brain-deader and brain-washeder than ever I suspected. Looking for that story that affected the market last night, I went home and got on the internet. Y'all know what the cause of all this stock-buying euphoria was?
A bucket.
Yep, a bucket. The bucket is a dodge the banks and central banks and government -- working together in one vast, loving, and larcenous partnership -- use to solve the crisis after the banks blow up a bubble, and to shuck the loss off on taxpayers.
Think of the early 1990s. Savings and Loans went on a lending spree, bubbled the real estate market, then it crashed and what on earth can we do with all these rotten loans?
A bucket. The Resolution Trust Corporation.
The government/banks create a bucket (a.k.a. Special Purpose Vehicle, Sublime Lending "Facility", or other hogwash) into which they can throw all the bubble's rotting offal, the toxic assets worth 10c on the dollar that the banks must carry on their balance sheets. They throw all the toxic assets into the bucket to buy time, then work them off little by little, usually picking the taxpayers' pockets in the process. Presto! The banks can sell their offal at 75c or 100c on the dollar to the bucket and clean up their balance sheets and the Taxpayers can pay. Normally this is done with such pompous sleight of hand, propaganda, and posturing that even the people being cheated -- the entire commonwealth -- think the banks are doing 'em a favor.
So last night I was surprised to learn that all the hoo-hoo in stocks apparently had been built on limp rumors of a bucket for the European sovereign debt crisis. Friends, this is thin gruel, because this mess has become too big for that bucket. Besides, it's full of holes.
I reckon they'll find out in a few days, and when the news of the bucket (as opposed to the rumor) hits the electrons, stocks will suddenly, rapidly, bloodily re-align themselves with reality.
Dow today rose 1.33% or 146.83 points to close at 11,190.69. S&P500 added 12.43 points (1.07%) to close 1,175.38. Considering the high came at 11,369, the Dow's grip wasn't too tight. Lots of resistance at 11,300-11,400.
Stocks -- the e. coli in your Investment Shopping Basket.
On 27 September 1964 the Warren Commission issued its report on John F. Kennedy's assassination a year earlier. The report concluded that Lee Harvey Oswald had acted alone, then sealed all the documents for 50 years. Right. The Tooth Fairy had intended to join him, but she backed out at the last minute
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Change : 58.10 or 3.5%
Silver Price Close Today : 31.49
Change : 1.57 or 5.0%
Platinum Price Close Today : 1,574.00
Change : 27.10 or 1.7%
Palladium Price Close Today : 649.00
Change : 22.55 or 3.5%
Gold Silver Ratio Today : 52.42
Change : -0.81 or 0.98%
Dow Industrial : 11,043.86
Change : 272.38 or 2.5%
US Dollar Index : 78.12
Change : -0.14 or -0.2%
Think of a waterfall. The water flows over the edge of a cliff, plummets to a pool below, splashes high up from the pool, then falls again to a lower pool.
That pretty well describes and forecasts waterfall declines in markets, such as what y'all saw in SILVER and GOLD PRICES the last four days. When anything falls that far that straight down, it is bound to bounce. The bounce may last quite a while, the bounce may look stronger than a garlic milkshake, but it fails at last.
I confess I am no more than a natural born fool from Tennessee, and fools -- the better fools, anyhow -- know enough to doubt themselves. Thus I might be wrong and there may be no lower prices in the futures than those already observed, but fool that I am, I still expect to see them.
And bad as I got whipped by swapping out of SILVER into GOLD too soon, I am willing to risk waiting too long now by shooting for a higher target (57.5:1) than today's 51.638. May be wrong, but at least I won't be whipping myself for being rash.
In a bounce worthy of Superman, the GOLD PRICE today shot up $57.90 (3.6%) to $1,650.60 at Comex close. High was $1,676.65, low $1,630.89.
Hard for me to judge the 5 day chart and say whether the rise has ended or not, but plain enough is mighty resistance beginning at $1,700 and rising above like the Great Wall of China. This can go on for weeks with great frustration, trading sideways, rallying, fading, rallying again. Y'all need great patience, and 'twill pay off.
The SILVER PRICE out-did GOLD by rising 5.25% (157c) to close Comex at 3149.7c. High, however, was 3347c, so SILVER gave back about half its gains. Stiffest resistance awaits silver at 3400c, then 3600c.
One complication of waiting for lower SILVER PRICES is what happened in 2008. While the paper price dropped to 880c, the price for physicals never dropped below 1200c. Shortages emerged, and people just asked higher and higher premiums for whatever silver they had. Still, I have to wait for lower prices. I understand this will win me no bonus points with the silver and gold cheerleaders, but the chart says what it says.
Do not misunderstand anything I have written above. You are watching a major correction in silver and gold, but not by any means the end of the bull market. From whatever low they eventually make, they will rocket back to double, triple, or quadruple that low. That's why this correction offers you such a rare opportunity to shoot fish in a rain barrel.
About palladium: it broke about $700 then fell to $605. Today it closed at $648. Platinum broke about $1750, and yesterday's low was $1,475.30. Today it recovered to $1,558. None of this is helpful to silver and gold.
Stocks staged a love fest around the globe yesterday and today, which only demonstrates that the public is even brain-deader and brain-washeder than ever I suspected. Looking for that story that affected the market last night, I went home and got on the internet. Y'all know what the cause of all this stock-buying euphoria was?
A bucket.
Yep, a bucket. The bucket is a dodge the banks and central banks and government -- working together in one vast, loving, and larcenous partnership -- use to solve the crisis after the banks blow up a bubble, and to shuck the loss off on taxpayers.
Think of the early 1990s. Savings and Loans went on a lending spree, bubbled the real estate market, then it crashed and what on earth can we do with all these rotten loans?
A bucket. The Resolution Trust Corporation.
The government/banks create a bucket (a.k.a. Special Purpose Vehicle, Sublime Lending "Facility", or other hogwash) into which they can throw all the bubble's rotting offal, the toxic assets worth 10c on the dollar that the banks must carry on their balance sheets. They throw all the toxic assets into the bucket to buy time, then work them off little by little, usually picking the taxpayers' pockets in the process. Presto! The banks can sell their offal at 75c or 100c on the dollar to the bucket and clean up their balance sheets and the Taxpayers can pay. Normally this is done with such pompous sleight of hand, propaganda, and posturing that even the people being cheated -- the entire commonwealth -- think the banks are doing 'em a favor.
So last night I was surprised to learn that all the hoo-hoo in stocks apparently had been built on limp rumors of a bucket for the European sovereign debt crisis. Friends, this is thin gruel, because this mess has become too big for that bucket. Besides, it's full of holes.
I reckon they'll find out in a few days, and when the news of the bucket (as opposed to the rumor) hits the electrons, stocks will suddenly, rapidly, bloodily re-align themselves with reality.
Dow today rose 1.33% or 146.83 points to close at 11,190.69. S&P500 added 12.43 points (1.07%) to close 1,175.38. Considering the high came at 11,369, the Dow's grip wasn't too tight. Lots of resistance at 11,300-11,400.
Stocks -- the e. coli in your Investment Shopping Basket.
On 27 September 1964 the Warren Commission issued its report on John F. Kennedy's assassination a year earlier. The report concluded that Lee Harvey Oswald had acted alone, then sealed all the documents for 50 years. Right. The Tooth Fairy had intended to join him, but she backed out at the last minute
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don't.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Monday, September 26, 2011
Rare Opportunity to Buy Silver and Gold at Fire-Sale Rates
Gold Price Close Today : 1592.70
Change : (45.00) or -2.7%
Silver Price Close Today : 29.929
Change : (0.131) or -0.4%
Gold Silver Ratio Today : 53.22
Change : -1.265 or -2.3%
Silver Gold Ratio Today : 0.01879
Change : 0.000436 or 2.4%
Platinum Price Close Today : 1562.00
Change : -48.40 or -3.0%
Palladium Price Close Today : 632.00
Change : -9.10 or -1.4%
S&P 500 : 1,162.95
Change : 26.52 or 2.3%
Dow In GOLD$ : $143.34
Change : $ 7.39 or 5.4%
Dow in GOLD oz : 6.934
Change : 0.358 or 5.4%
Dow in SILVER oz : 369.00
Change : 10.67 or 3.0%
Dow Industrial : 11,043.86
Change : 272.38 or 2.5%
US Dollar Index : 77.95
Change : 0.646 or 0.8%
I reckon mobs of silver and gold investors out there are chewing their fingernails down to the quick, but they could spare themselves a lot of blood loss if they'd lift up their heads and look around. 'Tain't the end of the world, let alone the end of the bull market. 'Tis a routine correction - a large one, but routine as a bull market unfolds.
Dollar index today rose through 78 and closed at 78.50. Then something happened in the aftermarket, I don't know whether it was a news item or just the herd stampeding the other way, and the dollar sank back to 77.95, which was still higher than Friday. Dollar will rise further. Euro rose to 1.3451 at close today, up 0.37%, but in aftermarket trading stands at 1.3365. Doomed. Yen rose 0.44% to 130.97 cents/Y100 (Y76.35=$1). Trying to rise.
The Tooth Fairy visited the stock market today and raised the Dow 272.38 points (2.53%) to 11,043.86. S&P500 also rose 2.33% or 26.52 points to 1,162.95. Technically looks like Thursday and Friday formed a rounding bottom, and it rose today to the 11,100 point where it broke down Wednesday. Must prove itself by crossing that barrier.
STOCKS -- Wall Street's way of harvesting Main Street.
GOLD and SILVER markets today hardly can be described. I came in and silver was at 2884, I grabbed phones and started answering and before I could cover what I'd sold SILVER had climbed 100c. Today's low came at 2604c, but about 3:00 a.m. our time. Nobody got it there. High on silver was 3078c, and after closing Comex down 13.1c at 2992.9c, it's trading in the aftermarket at 3062c. What chaps me most of all is the premium on US 90% rising, 50c/oz. at a lick at the end of the day. Back in 2008, y'all may remember, same thing happened when all forms of physical silver just disappeared.
The GOLD PRICE lost $45.00 when Comex closed, coming to rest at $1,592.70. High was 1,637.65, low (again, at 3:00 a.m.) at $1,532.45. In the aftermarket it climbed to $1,623.65.
Hogwash. It's neither normal nor sensible, but then sometimes markets aren't either.
Here's what's most occupying my mind. The gold/silver ratio as a percentage of its 20 day moving average yesterday touched 120%, highest it has ever been, far's as my file runs to 1998. Today it fell a little, to 116.8%. Generally that's a very reliable indicator, 115% at bottoms and 88 - 92% at tops.
What does that mean? That we may have seen the high in the gold/silver ratio. However, as violent as this day's trading was, I want to give SILVER and GOLD PRICES another little while to fall. I may end up eating gravel, but the rational side of my brain keeps telling me to wait just a little.
Another thing nagging at me is that the SILVER PRICE has dropped below its 300 day moving average, a rare occurrence. Now it might stay below that 300dma for two or three weeks, but crossing it almost always says, the bottom is near.
SILVER and GOLD PRICES could drop more. My rational mind and the charts tell me that. But my intuition keeps on asking where all that buying was coming from today. A 70 cent silver rise and $31 silver rise in the aftermarket is right stout, no matter how you cut it.
Gently, gently I am starting to buy. Just can't help it, I'm too nervous about silver and gold. Nervous, too, about the unfolding crisis. Of this much I am sure: you are now watching a rare opportunity to buy silver and gold at fire-sale rates.
Friday after markets closed Comex announced it was raising margins on silver and gold contracts. No doubt somebody got that news before the press release and sold in anticipation. But the stories metastisizing on the internet that this proves a conspiracy are just silly. Commodity markets are run for the benefit of the market makers, and it's not in their interest for investors to go bankrupt. They raise margins on EVERY hot market.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don't.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose.
Change : (45.00) or -2.7%
Silver Price Close Today : 29.929
Change : (0.131) or -0.4%
Gold Silver Ratio Today : 53.22
Change : -1.265 or -2.3%
Silver Gold Ratio Today : 0.01879
Change : 0.000436 or 2.4%
Platinum Price Close Today : 1562.00
Change : -48.40 or -3.0%
Palladium Price Close Today : 632.00
Change : -9.10 or -1.4%
S&P 500 : 1,162.95
Change : 26.52 or 2.3%
Dow In GOLD$ : $143.34
Change : $ 7.39 or 5.4%
Dow in GOLD oz : 6.934
Change : 0.358 or 5.4%
Dow in SILVER oz : 369.00
Change : 10.67 or 3.0%
Dow Industrial : 11,043.86
Change : 272.38 or 2.5%
US Dollar Index : 77.95
Change : 0.646 or 0.8%
I reckon mobs of silver and gold investors out there are chewing their fingernails down to the quick, but they could spare themselves a lot of blood loss if they'd lift up their heads and look around. 'Tain't the end of the world, let alone the end of the bull market. 'Tis a routine correction - a large one, but routine as a bull market unfolds.
Dollar index today rose through 78 and closed at 78.50. Then something happened in the aftermarket, I don't know whether it was a news item or just the herd stampeding the other way, and the dollar sank back to 77.95, which was still higher than Friday. Dollar will rise further. Euro rose to 1.3451 at close today, up 0.37%, but in aftermarket trading stands at 1.3365. Doomed. Yen rose 0.44% to 130.97 cents/Y100 (Y76.35=$1). Trying to rise.
The Tooth Fairy visited the stock market today and raised the Dow 272.38 points (2.53%) to 11,043.86. S&P500 also rose 2.33% or 26.52 points to 1,162.95. Technically looks like Thursday and Friday formed a rounding bottom, and it rose today to the 11,100 point where it broke down Wednesday. Must prove itself by crossing that barrier.
STOCKS -- Wall Street's way of harvesting Main Street.
GOLD and SILVER markets today hardly can be described. I came in and silver was at 2884, I grabbed phones and started answering and before I could cover what I'd sold SILVER had climbed 100c. Today's low came at 2604c, but about 3:00 a.m. our time. Nobody got it there. High on silver was 3078c, and after closing Comex down 13.1c at 2992.9c, it's trading in the aftermarket at 3062c. What chaps me most of all is the premium on US 90% rising, 50c/oz. at a lick at the end of the day. Back in 2008, y'all may remember, same thing happened when all forms of physical silver just disappeared.
The GOLD PRICE lost $45.00 when Comex closed, coming to rest at $1,592.70. High was 1,637.65, low (again, at 3:00 a.m.) at $1,532.45. In the aftermarket it climbed to $1,623.65.
Hogwash. It's neither normal nor sensible, but then sometimes markets aren't either.
Here's what's most occupying my mind. The gold/silver ratio as a percentage of its 20 day moving average yesterday touched 120%, highest it has ever been, far's as my file runs to 1998. Today it fell a little, to 116.8%. Generally that's a very reliable indicator, 115% at bottoms and 88 - 92% at tops.
What does that mean? That we may have seen the high in the gold/silver ratio. However, as violent as this day's trading was, I want to give SILVER and GOLD PRICES another little while to fall. I may end up eating gravel, but the rational side of my brain keeps telling me to wait just a little.
Another thing nagging at me is that the SILVER PRICE has dropped below its 300 day moving average, a rare occurrence. Now it might stay below that 300dma for two or three weeks, but crossing it almost always says, the bottom is near.
SILVER and GOLD PRICES could drop more. My rational mind and the charts tell me that. But my intuition keeps on asking where all that buying was coming from today. A 70 cent silver rise and $31 silver rise in the aftermarket is right stout, no matter how you cut it.
Gently, gently I am starting to buy. Just can't help it, I'm too nervous about silver and gold. Nervous, too, about the unfolding crisis. Of this much I am sure: you are now watching a rare opportunity to buy silver and gold at fire-sale rates.
Friday after markets closed Comex announced it was raising margins on silver and gold contracts. No doubt somebody got that news before the press release and sold in anticipation. But the stories metastisizing on the internet that this proves a conspiracy are just silly. Commodity markets are run for the benefit of the market makers, and it's not in their interest for investors to go bankrupt. They raise margins on EVERY hot market.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose.
Friday, September 23, 2011
Be Calm, Hold Your Silver and Gold Positions
Gold Price Close Today : 1,637.70
Gold Price Close 16-Sep : 1,812.10
Change : -174.40 or -9.6%
Silver Price Close Today : 3006
Silver Price Close 16-Sep : 4078.1
Change : -1072.10 or -26.3%
Gold Silver Ratio Today : 54.48
Gold Silver Ratio 16-Sep : 44.43
Change : 10.05 or 22.6%
Silver Gold Ratio : 0.01836
Silver Gold Ratio 16-Sep : 0.02250
Change : -0.00415 or -18.4%
Dow in Gold Dollars : $ 135.96
Dow in Gold Dollars 16-Sep : $ 131.29
Change : $ 4.67 or 3.6%
Dow in Gold Ounces : 6.577
Dow in Gold Ounces 16-Sep : 6.351
Change : 0.23 or 3.6%
Dow in Silver Ounces : 358.33
Dow in Silver Ounces 16-Sep : 282.22
Change : 76.12 or 27.0%
Dow Industrial : 10,771.48
Dow Industrial 16-Sep : 11,509.09
Change : -737.61 or -6.4%
S&P 500 : 1,136.00
S&P 500 16-Sep : 1,216.01
Change : -80.01 or -6.6%
US Dollar Index : 78.356
US Dollar Index 16-Sep : 76.623
Change : 1.73 or 2.3%
Platinum Price Close Today : 1,610.40
Platinum Price Close 16-Sep : 1,805.90
Change : -195.50 or -10.8%
Palladium Price Close Today : 641.10
Palladium Price Close 16-Sep : 732.90
Change : -91.80 or -12.5%
When I saw today's prices, I rushed back to send y'all a commentary. Since I claim to be nothing more than a natural born fool from Tennessee, I might not have anything to say worth hearing. Might just add more fog to an already foggy situation, but here goes.
No way to tell what final straw will break a market's back. Markets are human phenomena, and who knows what causes crowds to panic? Stocks, silver, and gold were all set to drop and the US dollar to rise. Something pushed them over the edge.
Bloomberg News, which always tells the truth (when it's convenient), said today US stocks fell for their biggest weekly loss since 2008. In four days stocks lost $1.1 trillion in value. Wednesday and Thursday alone the Dow lost 5.9%. Cause they assigned to this effect was the Fed's warning Wednesday that risks to the economy have increased. Right, and fire is hot, too. Clearly, the public perceives that nobody in authority on the North American or European continents has a clue what to do.
Today the Dow dead-cat-bounced to 10,771.48, up 37.65 points or 0.35%, hardly amounting to a rounding error. S&P500 rose 0.61% or 6.87 to 1,136. Today's 10,638 low took the Dow back to its August low, setting it up for a fall THRU that low on Monday. Point and Figure chart gives a target of 9,600 [sic]. Big break. Follow thru Monday will confirm whether it will fall much further, but I don't know how you could draw any other conclusion.
Stocks -- as much fun as pouring vinegar on a broken tooth.
Thursday the US DOLLAR INDEX broke through 78 resistance and rose 118.5 basis points to 78.489. Today it rose pennies to 78.50, but the trend is confirmed. Dollar index has now (1) broken through its upper trading channel line, (2) traded through its 200 day moving average, now 76.10), and (3) broken above 78, a height not seen since last February. Man'd be a fool to stand in the way of this. Dollar is rallying, and may reach 81.50 OR EVEN MUCH HIGHER. That throws a headwind into the paths of silver and gold.
This will keep up until falling stocks and screams of deflation scare Ben the Bernancubus so badly that he pumps out more dollars.
What y'all must not do is lose your head while everybody else is panicking. Don't become confused, mistaking short term moves for long term changes. NOTHING HAS CHANGED. SYSTEM IS UNALTERED. The Keynesian fools (takes a fool to know one) in government and central banking will keep on applying the same failed "cures" and keep on avoiding any real medicine. Thus after a correction, silver and gold will come roaring back.
Euro bounced a little today, up 0.23% to close at 1.3491 on its way to 1.2000 [sic]. Watch and see if it doesn't. If the yen can remain above 130c (Y76.9 = $1) it will prove a breakout and move even higher.
Danger with looking at past performance is that your mind inevitably forces that pattern onto today's movements, so that you expect things to follow the past exactly. Doesn't work that way: it only gives us a general comparison.
With that waning, let's look at how GOLD and SILVER PRICES acted back in 2008. Remember that the mortgage bubble popped then, precipitating a banking crisis in the US, like that today in European banks with sovereign debt. GOLD topped 18 March 2008 at $1,003.20, then
** The GOLD PRICE fell to a correction low 1 May at $848.90
** Climbed to a correction high of $977.70 on 15 July,
** broke down at about $900 on 4 August, and
** waterfalled to $786 (down 14.5%) by 18 August
** went lower, then rose to $900 on 22 September, and
** fell to a final bottom at $704.90 on 13 November, down 30%
from the March peak.
** from the August break to the November low 97 days passed. The SILVER PRICE topped 5 March 2008 at 2068.50c, then
**fell to a 1 May correction low at 1612c
** rose to 14 July at 1917.5c, then dropped gently and
** broke on 6 August at 1650c into a waterfall
** plunging to 1049c (down 36.4% in that break) on 11 Sept,
** dropped more, then rose to 1345.8c on 26 September, and
** fell to double bottoms 28 Oct and 13 Nov. at 880c,
down 57.5% from the March peak.
** From the August break to the November low, 98 days elapsed.
SILVER and GOLD will not repeat these exact numbers, but should follow that same general pattern. Tops in 2011 came in May, and events have not played out exactly the same. This time gold's first correction recovery high (top of B wave) ran much higher than the previous $1,577 peak, but once again silver's recovery has not been nearly as vigorous as gold's.
Okay, smart guy, if all this is so, why didn't you tell us before? Because I couldn't be sure metals were following the same pattern until they broke this week. More than that, scared money was running into gold, driving it up all summer.
Big question to deal with now is whether this is a relatively minor correction, or whether it will correct the entire move from the 2008 lows to the 2011 highs.
Not so fast, Jack! Gold's $1,637.70 closing price today was only about 15% lower than its peak -- not a major correction yet. Today's silver close, 3006c, is 38.1% lower than its 4858 peak last day of April. Not huge for silver. Yet this waterfall makes me expect lower prices still. Based on 2008's performance, a bottom can be expected sometime in December, if silver and gold are following that 2008 track.
Most of all, 2008 offered us a gigantic opportunity to swap gold for for silver when the ratio reached 83.5. Applying that 2008 correction of the gold/silver ratio from 46.677 to 83.5 or 179% of the low, the ratio this time around would reach 57.24. Whoa! Today's ratio was 54.481, taking it higher faster than expected. That reminds me that this correction ought not to take as long as 2008's because the market is in a later, more violent and speedier stage of development.
So we will want to trade gold for silver very shortly. Watch it every day. That break through 45 in the ratio over the last 2 days will send it rocketing upward.
Today's market in gold was raw, bloody carnage. Comex gold dropped $101.70 (5.8%) to $1,637.70, on top of losing $66.40 yesterday, a total of 9.5% in two days.
Low today came at $1,629.50. Targets are the 150 day moving average, which has contained every decline in the last year. It's now at $1,573. Another target is the 200 dma at $1,522.65. The 150 dma nests with lateral support about $1,575. If gold falls through $1,478, it could drop to $1,432.50, down about 25% from its $1,920 high.
The SILVER PRICE lost 674c today or 17.7%. I don't recall seeing any drop that large in since 1980. That was added to a 9.7% loss yesterday, or 27.4% in the past two days.
Silver has broken to a new lower low in the correction from its end-April high. May intraday low was 3230c. Low today was 2999c, and Comex close came at 3006c.
What about targets? Silver has dropped through its 300 day moving average (now 3143c), which hasn't happened since 2008. Lateral support stands at 2630c, the February 2011 low, then at a congestion area about 1950c - 2000c. A 57.5% correction repeating 2008's performance would take silver to 2064.7c. The area from 3127c to 2630c offers considerable support. Point and Figure target is 1600c.
Again I warn y'all not to lose your heads. Be calm, hold your silver and gold positions, alertly watch for the opportunity to swap gold for silver and to buy more gold and silver at panic prices. Lift your eyes up to the horizon, look at the long term, not at the bumpy road right in front of your hood, otherwise you'll run off the road into an oak tree.
It's been a hard week. Y'all go home, kiss your wife or husband and your children, and think about this:
"Behold, it is good and comely for one to eat and to drink and to enjoy the good of all his labor that he takes under the sun all the days of his life, which God giveth him: for it is his portion.
"Live joyfully with the wife whom thou lovest all the days of thy vanity . . . For that is thy portion in this life, and in thy labour which thou takest under the sun."
Y'all enjoy your weekend!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose.
Gold Price Close 16-Sep : 1,812.10
Change : -174.40 or -9.6%
Silver Price Close Today : 3006
Silver Price Close 16-Sep : 4078.1
Change : -1072.10 or -26.3%
Gold Silver Ratio Today : 54.48
Gold Silver Ratio 16-Sep : 44.43
Change : 10.05 or 22.6%
Silver Gold Ratio : 0.01836
Silver Gold Ratio 16-Sep : 0.02250
Change : -0.00415 or -18.4%
Dow in Gold Dollars : $ 135.96
Dow in Gold Dollars 16-Sep : $ 131.29
Change : $ 4.67 or 3.6%
Dow in Gold Ounces : 6.577
Dow in Gold Ounces 16-Sep : 6.351
Change : 0.23 or 3.6%
Dow in Silver Ounces : 358.33
Dow in Silver Ounces 16-Sep : 282.22
Change : 76.12 or 27.0%
Dow Industrial : 10,771.48
Dow Industrial 16-Sep : 11,509.09
Change : -737.61 or -6.4%
S&P 500 : 1,136.00
S&P 500 16-Sep : 1,216.01
Change : -80.01 or -6.6%
US Dollar Index : 78.356
US Dollar Index 16-Sep : 76.623
Change : 1.73 or 2.3%
Platinum Price Close Today : 1,610.40
Platinum Price Close 16-Sep : 1,805.90
Change : -195.50 or -10.8%
Palladium Price Close Today : 641.10
Palladium Price Close 16-Sep : 732.90
Change : -91.80 or -12.5%
When I saw today's prices, I rushed back to send y'all a commentary. Since I claim to be nothing more than a natural born fool from Tennessee, I might not have anything to say worth hearing. Might just add more fog to an already foggy situation, but here goes.
No way to tell what final straw will break a market's back. Markets are human phenomena, and who knows what causes crowds to panic? Stocks, silver, and gold were all set to drop and the US dollar to rise. Something pushed them over the edge.
Bloomberg News, which always tells the truth (when it's convenient), said today US stocks fell for their biggest weekly loss since 2008. In four days stocks lost $1.1 trillion in value. Wednesday and Thursday alone the Dow lost 5.9%. Cause they assigned to this effect was the Fed's warning Wednesday that risks to the economy have increased. Right, and fire is hot, too. Clearly, the public perceives that nobody in authority on the North American or European continents has a clue what to do.
Today the Dow dead-cat-bounced to 10,771.48, up 37.65 points or 0.35%, hardly amounting to a rounding error. S&P500 rose 0.61% or 6.87 to 1,136. Today's 10,638 low took the Dow back to its August low, setting it up for a fall THRU that low on Monday. Point and Figure chart gives a target of 9,600 [sic]. Big break. Follow thru Monday will confirm whether it will fall much further, but I don't know how you could draw any other conclusion.
Stocks -- as much fun as pouring vinegar on a broken tooth.
Thursday the US DOLLAR INDEX broke through 78 resistance and rose 118.5 basis points to 78.489. Today it rose pennies to 78.50, but the trend is confirmed. Dollar index has now (1) broken through its upper trading channel line, (2) traded through its 200 day moving average, now 76.10), and (3) broken above 78, a height not seen since last February. Man'd be a fool to stand in the way of this. Dollar is rallying, and may reach 81.50 OR EVEN MUCH HIGHER. That throws a headwind into the paths of silver and gold.
This will keep up until falling stocks and screams of deflation scare Ben the Bernancubus so badly that he pumps out more dollars.
What y'all must not do is lose your head while everybody else is panicking. Don't become confused, mistaking short term moves for long term changes. NOTHING HAS CHANGED. SYSTEM IS UNALTERED. The Keynesian fools (takes a fool to know one) in government and central banking will keep on applying the same failed "cures" and keep on avoiding any real medicine. Thus after a correction, silver and gold will come roaring back.
Euro bounced a little today, up 0.23% to close at 1.3491 on its way to 1.2000 [sic]. Watch and see if it doesn't. If the yen can remain above 130c (Y76.9 = $1) it will prove a breakout and move even higher.
Danger with looking at past performance is that your mind inevitably forces that pattern onto today's movements, so that you expect things to follow the past exactly. Doesn't work that way: it only gives us a general comparison.
With that waning, let's look at how GOLD and SILVER PRICES acted back in 2008. Remember that the mortgage bubble popped then, precipitating a banking crisis in the US, like that today in European banks with sovereign debt. GOLD topped 18 March 2008 at $1,003.20, then
** The GOLD PRICE fell to a correction low 1 May at $848.90
** Climbed to a correction high of $977.70 on 15 July,
** broke down at about $900 on 4 August, and
** waterfalled to $786 (down 14.5%) by 18 August
** went lower, then rose to $900 on 22 September, and
** fell to a final bottom at $704.90 on 13 November, down 30%
from the March peak.
** from the August break to the November low 97 days passed. The SILVER PRICE topped 5 March 2008 at 2068.50c, then
**fell to a 1 May correction low at 1612c
** rose to 14 July at 1917.5c, then dropped gently and
** broke on 6 August at 1650c into a waterfall
** plunging to 1049c (down 36.4% in that break) on 11 Sept,
** dropped more, then rose to 1345.8c on 26 September, and
** fell to double bottoms 28 Oct and 13 Nov. at 880c,
down 57.5% from the March peak.
** From the August break to the November low, 98 days elapsed.
SILVER and GOLD will not repeat these exact numbers, but should follow that same general pattern. Tops in 2011 came in May, and events have not played out exactly the same. This time gold's first correction recovery high (top of B wave) ran much higher than the previous $1,577 peak, but once again silver's recovery has not been nearly as vigorous as gold's.
Okay, smart guy, if all this is so, why didn't you tell us before? Because I couldn't be sure metals were following the same pattern until they broke this week. More than that, scared money was running into gold, driving it up all summer.
Big question to deal with now is whether this is a relatively minor correction, or whether it will correct the entire move from the 2008 lows to the 2011 highs.
Not so fast, Jack! Gold's $1,637.70 closing price today was only about 15% lower than its peak -- not a major correction yet. Today's silver close, 3006c, is 38.1% lower than its 4858 peak last day of April. Not huge for silver. Yet this waterfall makes me expect lower prices still. Based on 2008's performance, a bottom can be expected sometime in December, if silver and gold are following that 2008 track.
Most of all, 2008 offered us a gigantic opportunity to swap gold for for silver when the ratio reached 83.5. Applying that 2008 correction of the gold/silver ratio from 46.677 to 83.5 or 179% of the low, the ratio this time around would reach 57.24. Whoa! Today's ratio was 54.481, taking it higher faster than expected. That reminds me that this correction ought not to take as long as 2008's because the market is in a later, more violent and speedier stage of development.
So we will want to trade gold for silver very shortly. Watch it every day. That break through 45 in the ratio over the last 2 days will send it rocketing upward.
Today's market in gold was raw, bloody carnage. Comex gold dropped $101.70 (5.8%) to $1,637.70, on top of losing $66.40 yesterday, a total of 9.5% in two days.
Low today came at $1,629.50. Targets are the 150 day moving average, which has contained every decline in the last year. It's now at $1,573. Another target is the 200 dma at $1,522.65. The 150 dma nests with lateral support about $1,575. If gold falls through $1,478, it could drop to $1,432.50, down about 25% from its $1,920 high.
The SILVER PRICE lost 674c today or 17.7%. I don't recall seeing any drop that large in since 1980. That was added to a 9.7% loss yesterday, or 27.4% in the past two days.
Silver has broken to a new lower low in the correction from its end-April high. May intraday low was 3230c. Low today was 2999c, and Comex close came at 3006c.
What about targets? Silver has dropped through its 300 day moving average (now 3143c), which hasn't happened since 2008. Lateral support stands at 2630c, the February 2011 low, then at a congestion area about 1950c - 2000c. A 57.5% correction repeating 2008's performance would take silver to 2064.7c. The area from 3127c to 2630c offers considerable support. Point and Figure target is 1600c.
Again I warn y'all not to lose your heads. Be calm, hold your silver and gold positions, alertly watch for the opportunity to swap gold for silver and to buy more gold and silver at panic prices. Lift your eyes up to the horizon, look at the long term, not at the bumpy road right in front of your hood, otherwise you'll run off the road into an oak tree.
It's been a hard week. Y'all go home, kiss your wife or husband and your children, and think about this:
"Behold, it is good and comely for one to eat and to drink and to enjoy the good of all his labor that he takes under the sun all the days of his life, which God giveth him: for it is his portion.
"Live joyfully with the wife whom thou lovest all the days of thy vanity . . . For that is thy portion in this life, and in thy labour which thou takest under the sun."
Y'all enjoy your weekend!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose.
Gold Price Lost $174.60 or -10.7% and the Silver Price Lost $10.73 or -35.7% This Week
Gold Price Close Today : 1,637.50
Gold Price Close 16-Sep : 1,812.10
Change : -174.60 or -10.7%
Silver Price Close Today : 30.05
Silver Price Close 16-Sep : 40.78
Change : -10.73 or -35.7%
Platinum Price Close Today : 1,613.20
Platinum Price Close 16-Sep : 1,813.90
Change : -200.70 or -12.4%
Palladium Price Close Today : 640.75
Palladium Price Close 16-Sep : 731.20
Change : -90.45 or -14.1%
Gold Silver Ratio Today : 54.49
Gold Silver Ratio 16-Sep : 44.44
Change : 10.06 or 1.23%
Dow Industrial : 10,733.83
Dow Industrial 16-Sep: 11,509.09
Change : -775.26 or -7.2%
US Dollar Index : 78.38
US Dollar Index 16-Sep : 76.24
Change : 2.14 or 2.7%
Franklin Sanders will not be writing commentary today, he will return on Monday the 26th of September.
Gold Price Close 16-Sep : 1,812.10
Change : -174.60 or -10.7%
Silver Price Close Today : 30.05
Silver Price Close 16-Sep : 40.78
Change : -10.73 or -35.7%
Platinum Price Close Today : 1,613.20
Platinum Price Close 16-Sep : 1,813.90
Change : -200.70 or -12.4%
Palladium Price Close Today : 640.75
Palladium Price Close 16-Sep : 731.20
Change : -90.45 or -14.1%
Gold Silver Ratio Today : 54.49
Gold Silver Ratio 16-Sep : 44.44
Change : 10.06 or 1.23%
Dow Industrial : 10,733.83
Dow Industrial 16-Sep: 11,509.09
Change : -775.26 or -7.2%
US Dollar Index : 78.38
US Dollar Index 16-Sep : 76.24
Change : 2.14 or 2.7%
Franklin Sanders will not be writing commentary today, he will return on Monday the 26th of September.
Wednesday, September 21, 2011
Watch that $1,770 Gold Price Support - If that Breaks, Look for $1,705 Next
Gold Price Close Today : 1,805.50
Change : -1.10 or -0.1%
Silver Price Close Today : 40.42
Change : .34 or 0.8%
Platinum Price Close Today : 1,788.20
Change : 6.30 or 0.4%
Palladium Price Close Today : 711.10
Change : -4.90 or -0.7%
Gold Silver Ratio Today : 44.67
Change : -0.41 or 0.99%
Dow Industrial : 11,408.66
Change : 7.65 or 0.1%
US Dollar Index : 77.03
Change : -0.06 or -0.1%
On Thursday and Friday, 22 and 23 September, I will be travelling and so will not be sending out commentaries. God willing, I will return on Monday, 26 September.
TODAY something odd happened to the US dollar. It reached support at 76.80, then Comrade Chairman Ben Bernancubus announced that the Fed will shift its US treasury debt holdings to longer term bonds. The Nice Government Men will buy $400 billion of 6 to 30 year bonds over the next 9 months, while selling an equal amount of 3-year or less debt. Object of this manipulation is to push down long term interest rates, flooding the market with artificially cheap money which under their Keynesian thinking means that business will flourish. It won't, as even this natural born fool from Tennessee could tell them, it will only prolong the waste and pain and waste more precious resources. These people ain't got the brains God gave a screwdriver.
The Fed's announcement -- or alien messages from outer space -- sent the dollar index gapping up and it is now trading at 77.304, up 27.4 basis points but most important of all, tapping on that 77.40 resistance that has stymied it this week. Dollar is going higher, count on it, hard as the NGM try to keep it down.
Naturally the Euro dropped 0.42% to 1.3659, on its way to 1.3000. Yen gained 0.36% to 130.58c/Y100 (Y76.58/$1). Fed's move hasn't helped the program of raising the euro very much. What a bunch of goofs. It's like watching the movie, "Three Stooges Run the Central Bank."
And the Three Stooges helped the stock market today, too. Dow lost a modest 283.82 (2.49%), holding on most of the day but then sinking like a rock in a churn after the Fed announcement. Dow closed 11,124.84, while the S&P fell even further, 2.94% (35.33) to 1,166.76. If every doctor was as skilful as Dr. Ben, we'd have a building boom in this country -- building cemeteries.
I don't know why the GOLD PRICE fell today -- dollar up, gold down? Technically it's already in a decline, so most likely it's merely following through to the downside. Gold closed down $1.10 at $1,805.80 on Come, but in the aftermarket has lost nearly $20 to trade at $1,786.90.
Gold's five day chart has strong support at $1,780 and stronger still at $1,770. Picture's not as clear as you might think, as yesterday's action looks like an impulsive move up, and today's might be merely a correction to yesterday.
Awww, stop over-complicating things! Watch that $1,770 support. If that breaks, look for $1,705 next. Overhead GOLD would have to earnestly challenge $1,920 to reverse course. No point in talking about upside, though, until and unless gold first clears its 20 day moving average at $1,822.
SILVER backtalked gold today, rising 33.6c on Comex to 4042.3c while gold fell. Never quite know what to make out of those bi-metallic closes, because sometimes they foretell a strong up day. Yet that usually comes after they've been attacked for a few days and dropped.
Just staring at the chart, today struck silver a deep wound. Since Monday's 3900c low the SILVER PRICE has climbed all the way to 4068c, but after that Fed announcement silver just fainted dead away, dropping to 3957c. Keep you eye on silver's behavior at 3900c. If it falls through that, we have to reckon with 3700, even 3675c.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Change : -1.10 or -0.1%
Silver Price Close Today : 40.42
Change : .34 or 0.8%
Platinum Price Close Today : 1,788.20
Change : 6.30 or 0.4%
Palladium Price Close Today : 711.10
Change : -4.90 or -0.7%
Gold Silver Ratio Today : 44.67
Change : -0.41 or 0.99%
Dow Industrial : 11,408.66
Change : 7.65 or 0.1%
US Dollar Index : 77.03
Change : -0.06 or -0.1%
On Thursday and Friday, 22 and 23 September, I will be travelling and so will not be sending out commentaries. God willing, I will return on Monday, 26 September.
TODAY something odd happened to the US dollar. It reached support at 76.80, then Comrade Chairman Ben Bernancubus announced that the Fed will shift its US treasury debt holdings to longer term bonds. The Nice Government Men will buy $400 billion of 6 to 30 year bonds over the next 9 months, while selling an equal amount of 3-year or less debt. Object of this manipulation is to push down long term interest rates, flooding the market with artificially cheap money which under their Keynesian thinking means that business will flourish. It won't, as even this natural born fool from Tennessee could tell them, it will only prolong the waste and pain and waste more precious resources. These people ain't got the brains God gave a screwdriver.
The Fed's announcement -- or alien messages from outer space -- sent the dollar index gapping up and it is now trading at 77.304, up 27.4 basis points but most important of all, tapping on that 77.40 resistance that has stymied it this week. Dollar is going higher, count on it, hard as the NGM try to keep it down.
Naturally the Euro dropped 0.42% to 1.3659, on its way to 1.3000. Yen gained 0.36% to 130.58c/Y100 (Y76.58/$1). Fed's move hasn't helped the program of raising the euro very much. What a bunch of goofs. It's like watching the movie, "Three Stooges Run the Central Bank."
And the Three Stooges helped the stock market today, too. Dow lost a modest 283.82 (2.49%), holding on most of the day but then sinking like a rock in a churn after the Fed announcement. Dow closed 11,124.84, while the S&P fell even further, 2.94% (35.33) to 1,166.76. If every doctor was as skilful as Dr. Ben, we'd have a building boom in this country -- building cemeteries.
I don't know why the GOLD PRICE fell today -- dollar up, gold down? Technically it's already in a decline, so most likely it's merely following through to the downside. Gold closed down $1.10 at $1,805.80 on Come, but in the aftermarket has lost nearly $20 to trade at $1,786.90.
Gold's five day chart has strong support at $1,780 and stronger still at $1,770. Picture's not as clear as you might think, as yesterday's action looks like an impulsive move up, and today's might be merely a correction to yesterday.
Awww, stop over-complicating things! Watch that $1,770 support. If that breaks, look for $1,705 next. Overhead GOLD would have to earnestly challenge $1,920 to reverse course. No point in talking about upside, though, until and unless gold first clears its 20 day moving average at $1,822.
SILVER backtalked gold today, rising 33.6c on Comex to 4042.3c while gold fell. Never quite know what to make out of those bi-metallic closes, because sometimes they foretell a strong up day. Yet that usually comes after they've been attacked for a few days and dropped.
Just staring at the chart, today struck silver a deep wound. Since Monday's 3900c low the SILVER PRICE has climbed all the way to 4068c, but after that Fed announcement silver just fainted dead away, dropping to 3957c. Keep you eye on silver's behavior at 3900c. If it falls through that, we have to reckon with 3700, even 3675c.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Tuesday, September 20, 2011
Must-hold Gold Price Support Remains $1,765 Critical Resistance Above is $1,825
Gold Price Close Today : 1806.90
Change : 30.20 or 1.7%
Silver Price Close Today : 40.087
Change : 0.969 or 2.5%
Gold Silver Ratio Today : 45.07
Change : -0.345 or -0.8%
Silver Gold Ratio Today : 0.02219
Change : 0.000168 or 0.8%
Platinum Price Close Today : 1782.00
Change : 8.00 or 0.5%
Palladium Price Close Today : 720.00
Change : 6.00 or 0.8%
S&P 500 : 1,202.09
Change : -2.00 or -0.2%
Dow In GOLD$ : $130.52
Change : $ (2.12) or -1.6%
Dow in GOLD oz : 6.314
Change : -0.102 or -1.6%
Dow in SILVER oz : 284.60
Change : -6.85 or -2.4%
Dow Industrial : 11,408.66
Change : 7.65 or 0.1%
US Dollar Index : 76.99
Change : -0.154 or -0.2%
On Thursday and Friday, 22 and 23 September, I will be travelling and so will not be sending out commentaries. God willing, I will return on Monday, 26 September.
What does IMF-imposed austerity look like? Here's a hint from an astute friend in Greece. I asked him if the Greek government would default, since he had several months ago written that default was a question of when, not if. He wrote:
"We have already been under a 'controlled bankruptcy state' for a few months.
"We are now watching the epilogue of the Greek drama, and I think it will not last much longer. Actually, it can't. Practically.
" * The state has imposed ridiculous anti-constitutional taxes in order to fill fiscal holes, people simply cannot pay any more.
" * Real unemployment (part-time jobs do not count) is 30% already.
" * One out of two Greek families is touching the "being poor" limit.
" * The prime minister declared that the government intends for every family to have at least one family member with a job. (!)
" * Our economy is wrecked, we do not produce, only import.
" * There are cuts everywhere, life is getting more expensive, but salaries get lower. Imagine life getting about 7-8% more expensive in a year and salaries/retirements to get cut about 20%. Add to this some outrageous "special" taxes. People simply cannot take it.
"I cannot estimate how far this can go, soonest is by the end of this year, latest seems sometime within the next year."
Just apply those same "austerity measures" to yourself right here. Is anybody surprised that Greeks have been pulling their money out of the banks and buying gold?
Another 7-league boot fell late yesterday when Italian government debt was downgraded from A+ to A rating. Italian government blustered, but nobody was much surprised. Euro actually rose, a classic case of buy the rumor, sell the news.
What frustrates me so much is that none of these measures make even baby steps toward reforming these economies. Nobody ever addresses the presuppositions underlying their failures, namely, that governments OUGHT to run economies, that prosperity can be accomplished by government spending and borrowing (government and private), that borrowing, flipping burgers, and selling each other computer programs can really replace PRODUCTION, real production, in an economy. Wealth of the world begins with the things men take out of the ground. As that processes thru the economy, it creates income for all who handle it. But what happens when production is shipped overseas? How is the lost income replaced? Our Rulers answer is, borrowing. Ask the Greeks how well that works. Mercy, ask the Americans!
Nice Government Men were busy painting the tape today. All the stock indices dropped slightly, while the Dow alone gained an insignificant 7.65 points (0.07%) to close 11,408.66. S&P lost 2 (0.17%) to close 1,202.09.
Dow tried all day to get through the same 11,550 resistance that stymied it on Friday, but in vain. Wasted a lot of buying power trying, though, and has traced out on a 5-day chart something that looks remarkably like a double top. Longer term chart is choppy and indecisive, but looks to be meditating another, larger drop.
US dollar index fell 15.4 basis points today (0.2%) to 76.992, yet it remains above its 20 day moving average (75.51) and 50 dma (74.9) and 200 dma (76.12). That, and a stirring rise in the last 3 weeks pretty well defines a rally.
The Franken-currency, the euro, rose 0.68% to 1.3699 today. Meaningless. It's falling down the wall like some alien slime monster in a Grade B movie from the 1950s, with little hope of rallying any time soon. Yen is giving the Nice Government Men fits, refusing to get with the program and fall. Closed today at 130.86c/Y100 (Y76.42 = $1).
The GOLD PRICE is playing the same tricks on us it played in mid-August when it posted a downward key reversal and upside key reversal back to back. Yesterday's break should have taken it lower, but instead it gained $30.20 today (versus losing $35.80 yesterday) to close Comex at $1,806.90.
The breakdown thru the uptrend line remains, but today the GOLD PRICE closed smack under it. It can clamber above that line, it will scramble for higher ground. Gold abideth still beneath its 20 dma ($1,823.20), and that wide spread between the 50 dma ($1,737.19) and the 200 dma ($1,517.89) is begging to be narrowed. Momentum, in other words, points down but gold keeps on refusing to give up and drop.
Must-hold support remains $1,765. Critical resistance above is $1,825. Break either of those lines, and gold will travel much further in the direction of the break.
The SILVER PRICE built on yesterday's bounce off 3900c support and reached as high as 4026. Like gold, silver contradicted yesterday's 167.1c loss by regaining 96.9c and closing Comex at 4008.7c. It weakened off in the aftermarket, however, to 3975c, not an encouraging move.
Even tho the SILVER PRICE rose today, it remains BELOW its rising trend line, which of course constitutes a breakdown. It also lingers below its 20 dma (4116c) and even 50 dma (4032c). Absent a rise shooting through 4250 and then 4400c, silver will see lower prices.
Having said all that, I still note that a crisis and panic is slowly sizzling in Europe while the cooks are out on the porch smoking and piddling. That panic could catch fire and burn out of control at any time, so don't get too cocksure that silver and gold will fall sharply. If that crisis fizzles instead of sizzles, they'll drop. Otherwise fear will keep buoying them up,.
Must hold support for silver is 3875c.
On 20 September 1873 began the Panic of 1873, which introduced a severe international economic depression that lasted until 1879. Not much to anybody's surprise, it was caused by speculation financed by the banks. It began with the demonetization of silver in the US ("The Crime of '73") and following demonetization by the new German empire. Wild optimism in Germany and Austria with the founding of the new Reich provoked more speculation, and it broke in the US with the failure of the Northern Pacific Railway that declared bankruptcy on 18 September. On 20 September that took down Jay Cooke and Co., a major New York banking establishment that today would be classed as "too big to fail." What lesson can we learn from this? That the so-called business cycle and depressions are really not anything more than a "banking cycle" where the banks pump out credit then withdraw it when the bubble bursts. Where have we heard this story before?
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don't.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Change : 30.20 or 1.7%
Silver Price Close Today : 40.087
Change : 0.969 or 2.5%
Gold Silver Ratio Today : 45.07
Change : -0.345 or -0.8%
Silver Gold Ratio Today : 0.02219
Change : 0.000168 or 0.8%
Platinum Price Close Today : 1782.00
Change : 8.00 or 0.5%
Palladium Price Close Today : 720.00
Change : 6.00 or 0.8%
S&P 500 : 1,202.09
Change : -2.00 or -0.2%
Dow In GOLD$ : $130.52
Change : $ (2.12) or -1.6%
Dow in GOLD oz : 6.314
Change : -0.102 or -1.6%
Dow in SILVER oz : 284.60
Change : -6.85 or -2.4%
Dow Industrial : 11,408.66
Change : 7.65 or 0.1%
US Dollar Index : 76.99
Change : -0.154 or -0.2%
On Thursday and Friday, 22 and 23 September, I will be travelling and so will not be sending out commentaries. God willing, I will return on Monday, 26 September.
What does IMF-imposed austerity look like? Here's a hint from an astute friend in Greece. I asked him if the Greek government would default, since he had several months ago written that default was a question of when, not if. He wrote:
"We have already been under a 'controlled bankruptcy state' for a few months.
"We are now watching the epilogue of the Greek drama, and I think it will not last much longer. Actually, it can't. Practically.
" * The state has imposed ridiculous anti-constitutional taxes in order to fill fiscal holes, people simply cannot pay any more.
" * Real unemployment (part-time jobs do not count) is 30% already.
" * One out of two Greek families is touching the "being poor" limit.
" * The prime minister declared that the government intends for every family to have at least one family member with a job. (!)
" * Our economy is wrecked, we do not produce, only import.
" * There are cuts everywhere, life is getting more expensive, but salaries get lower. Imagine life getting about 7-8% more expensive in a year and salaries/retirements to get cut about 20%. Add to this some outrageous "special" taxes. People simply cannot take it.
"I cannot estimate how far this can go, soonest is by the end of this year, latest seems sometime within the next year."
Just apply those same "austerity measures" to yourself right here. Is anybody surprised that Greeks have been pulling their money out of the banks and buying gold?
Another 7-league boot fell late yesterday when Italian government debt was downgraded from A+ to A rating. Italian government blustered, but nobody was much surprised. Euro actually rose, a classic case of buy the rumor, sell the news.
What frustrates me so much is that none of these measures make even baby steps toward reforming these economies. Nobody ever addresses the presuppositions underlying their failures, namely, that governments OUGHT to run economies, that prosperity can be accomplished by government spending and borrowing (government and private), that borrowing, flipping burgers, and selling each other computer programs can really replace PRODUCTION, real production, in an economy. Wealth of the world begins with the things men take out of the ground. As that processes thru the economy, it creates income for all who handle it. But what happens when production is shipped overseas? How is the lost income replaced? Our Rulers answer is, borrowing. Ask the Greeks how well that works. Mercy, ask the Americans!
Nice Government Men were busy painting the tape today. All the stock indices dropped slightly, while the Dow alone gained an insignificant 7.65 points (0.07%) to close 11,408.66. S&P lost 2 (0.17%) to close 1,202.09.
Dow tried all day to get through the same 11,550 resistance that stymied it on Friday, but in vain. Wasted a lot of buying power trying, though, and has traced out on a 5-day chart something that looks remarkably like a double top. Longer term chart is choppy and indecisive, but looks to be meditating another, larger drop.
US dollar index fell 15.4 basis points today (0.2%) to 76.992, yet it remains above its 20 day moving average (75.51) and 50 dma (74.9) and 200 dma (76.12). That, and a stirring rise in the last 3 weeks pretty well defines a rally.
The Franken-currency, the euro, rose 0.68% to 1.3699 today. Meaningless. It's falling down the wall like some alien slime monster in a Grade B movie from the 1950s, with little hope of rallying any time soon. Yen is giving the Nice Government Men fits, refusing to get with the program and fall. Closed today at 130.86c/Y100 (Y76.42 = $1).
The GOLD PRICE is playing the same tricks on us it played in mid-August when it posted a downward key reversal and upside key reversal back to back. Yesterday's break should have taken it lower, but instead it gained $30.20 today (versus losing $35.80 yesterday) to close Comex at $1,806.90.
The breakdown thru the uptrend line remains, but today the GOLD PRICE closed smack under it. It can clamber above that line, it will scramble for higher ground. Gold abideth still beneath its 20 dma ($1,823.20), and that wide spread between the 50 dma ($1,737.19) and the 200 dma ($1,517.89) is begging to be narrowed. Momentum, in other words, points down but gold keeps on refusing to give up and drop.
Must-hold support remains $1,765. Critical resistance above is $1,825. Break either of those lines, and gold will travel much further in the direction of the break.
The SILVER PRICE built on yesterday's bounce off 3900c support and reached as high as 4026. Like gold, silver contradicted yesterday's 167.1c loss by regaining 96.9c and closing Comex at 4008.7c. It weakened off in the aftermarket, however, to 3975c, not an encouraging move.
Even tho the SILVER PRICE rose today, it remains BELOW its rising trend line, which of course constitutes a breakdown. It also lingers below its 20 dma (4116c) and even 50 dma (4032c). Absent a rise shooting through 4250 and then 4400c, silver will see lower prices.
Having said all that, I still note that a crisis and panic is slowly sizzling in Europe while the cooks are out on the porch smoking and piddling. That panic could catch fire and burn out of control at any time, so don't get too cocksure that silver and gold will fall sharply. If that crisis fizzles instead of sizzles, they'll drop. Otherwise fear will keep buoying them up,.
Must hold support for silver is 3875c.
On 20 September 1873 began the Panic of 1873, which introduced a severe international economic depression that lasted until 1879. Not much to anybody's surprise, it was caused by speculation financed by the banks. It began with the demonetization of silver in the US ("The Crime of '73") and following demonetization by the new German empire. Wild optimism in Germany and Austria with the founding of the new Reich provoked more speculation, and it broke in the US with the failure of the Northern Pacific Railway that declared bankruptcy on 18 September. On 20 September that took down Jay Cooke and Co., a major New York banking establishment that today would be classed as "too big to fail." What lesson can we learn from this? That the so-called business cycle and depressions are really not anything more than a "banking cycle" where the banks pump out credit then withdraw it when the bubble bursts. Where have we heard this story before?
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Gold Price Closed Today at 1,776.40 Down -35.70 or -2.0%
Gold Price Close Today : 1,776.40
Change : -35.70 or -2.0%
Silver Price Close Today : 39.11
Change : -1.67 or -4.3%
Platinum Price Close Today : 1,772.00
Change : -41.90 or -2.4%
Palladium Price Close Today : 710.35
Change : -20.85 or -2.9%
Gold Silver Ratio Today : 45.42
Change : 0.98 or 1.02%
Dow Industrial : 11,509.09
Change : 75.91 or 0.7%
US Dollar Index : 76.60
Change : 0.36 or 0.5%
Vacations are wonderfully refreshing, but they take you out of your own place to another. Places, like women, each have their own peculiar beauty, but no matter how beautiful others may be, you always prefer your own. It's good to be home.
Y'all know already that trying to find information on the Internet resembles trying to drink out of a fire hose. But that's nothing new, it's always been that way, trying to pick the important events & causes from the middling-piddling ones. Great traders, I've heard, find a few very reliable indicators & stick with those, & don't vex themselves trying to find out everything about everything.
Now I'm nothing but a natural born fool from Tennessee & don't claim to be anything more, but even I can see that some things are causes, and some effects. If you can spot those CAUSES, then 'tain't too taxing to forecast the effects.
For instance, an Obama speech is not a cause. Shucks, it ain't even an effect. It's just bloviating, whistling, skizzing, steaming, and smoking, & don't mean as much as a wasp buzzing in a jug. Sounds fierce, but can't hurt nor help nobody.
On th'other hand, the sovereign debt crisis over in Europe is a CAUSE (well, actually it's an EFFECT of central banking, but here lately it's assumed the size of a cause). Last week, S&P announced it was downgrading the credit ratings of two of the biggest French banks because of their exposure to Greek sovereign debt, and it was eyeing with jaundice another big one, BNP. Not only that, it was squinting with suspicion at the big German banks. Just to mix things up real special, the Eurocrats announced they wouldn't give Greece its promised next dose of bail out if Greece didn't get on the stick & fire a hundred thousand or so government "workers" & kiss the dirt and kowtow more earnestly. That provoked the appearance of the NEXT cause.
Five central banks -- the ECB, Fed, Bank o'England, Bank o'Japan, & Swiss National Bank -- announced they were opening the 2nd story window & flinging out dollars for the banks to pick up, seeing as they needed 'em so bad. And they'd make it easy with "repurchase agreement."
Think of it this way: you have a really sorry old Ford car, & you need money really bad. You don't just go down to the car title lender with that thing dusty and dirty. No, first you detail that rascal, to make it look like something. But then you get there, & lo an behold! That usurious scoundrel at the title discount shop just beams and smiles like you had driven up in a new BMW, & he's happy as a beaver in bark to loan you something on your sorry old Ford, but you have to pay him back in 90 days.
In a repurchase agreement, the central banks agree to loan dollars for whatever "collateral" -- sorry Greek debt, rotten Portuguese debt, bad stinking mortgage-backed securities -- the banks want to put up, but at the end of 3 months, the Central Banks get back their US dollars, & the banks get back their sorry paper.
What signifieth this moiling hugger-mugger? Just this: central banks have only two weapons in a crisis, BLARNEY & LIQUIDITY. This re-purchase offer is the liquidity cannon firing. A panic is brewing with a flight to US dollars, so the central banks will temporarily flood the market with dollars to meet the crisis, then soak them back up in 90 days to minimize the damage -- or so they think.
The repurchase offer, complete with public and publicized co-operation among five central banks (the blarney cannon a-blazing away) shouts, screams, & outright hollers that a big panic is loose, & the central banks are desperate to stanch the flow of liquidity out of the system.
Now you can sit there calmly sipping on your High Fructose Corn Syrup drenched fizzy drink if you want, but this leaves me somewhat less than optimistic about the state of the financial system. For me, here's what I'd do:
1. Reduce bank balances to the absolute minimum needed for the next three months.
2. Get at least three months' cash needs in currency. If it costs you $3,000 a month to live, get $9,000 and put it someplace you can reach it 24 hours a day.
3. Put unused cash balances into gold. It may go down, but at least I can get my hands on it, whereas those balances in banks? Well, maybe we'll let you have it, and maybe we won't, if we need it worse than you. Maybe we'll let you have just a little drab and drib of it, with limited withdrawals. & remember, we're the banks, & we've got the government to back us up.
Don't y'all ever forget this: a bank is a thirty-horse, multi-action, sharp-knived, steam-powered threshing machine, & when it gets finished with you, there won't be enough scrimpshions left to cover a pin head with.
But you all go on enjoying your HFCS drink, & don't pay me no mind. I'm just a natural born fool anyway.
D'yall notice that the US dollar index was at 77.193 a week ago Friday, & today it's at 77.146? Now ain't THAT something, what with the whole world pressing into dollars? Nope, that's the result of the central banks' junk-buying drive. Them boys is desperate to keep that dollar down, but that old dog won't hunt. Dollar has broken away and is pounding strenuously on the top of its trading channel. Those central banks will have to sell a powerful lot of dollars to drive it down.
Like the mirror image but worse, that Euro has broken DOWN out of its trading channel, and to make matters worse, it gapped down today. Closed at 1.3685, down 0.79% and falling toward 1.3000 faster than quicksilver can get thru a sifter. Yen closed at 130.57c/Y100 (Y76.6/$1), but wants to rise, too.
Stocks didn't have as much chance today as a fat fly at a frog convention. Dow lost 108.08 (0.94%) to close 11,401.01 and right by its side the S&P500 dropped 11.92 (0.98%) and closed 1,204.09. Dow did barely manage to close above its 20 day moving average (11,291) after it hit it during the day, but it was a day spent wallowing underwater. So 'twas around the world.
Stocks -- better than a government job for guaranteeing your future prosperity.
I like to focus on the tallest cause around, 'cause that usually explains so much. Hence today I'm eyeing the central banks' dollar surprise party. Now if I were the Nice Government Men charged with Saving The World For The Banks, & I was running a special dollar giveaway to stem panic, you don't reckon I'd forget even for a minute to knock down that gold market, do you?
And when I look at that chart, I see that the GOLD PRICE reached $1,826, and then something -- natural forces? Aliens? NGM? -- whacked it back to $1,810. But look here -- when it fell through $1,810, somebody commenced to selling, and lots. Gold tumbled all the way to $1,771.50 like somebody throwing a wrench out of a car window. Time Comex closed it has lost $35.80 to $1,776.70.
But setting my suspicions aside, technically gold has drawn a double top around $1,920, and trended down since the second top, foretelling lower prices. (A close above the 20 dma and lateral support around $1,825 would gainsay that outlook.) Support lies at $1,750, $1,705, and $1,675.
Yet to promote humility and an accurate view of my talents & yours, I hasten to point out that gold (and all other markets) have been so jumpy lately that it's tough to way what they might do. Gold may yet break to new highs -- higher than $1,920 -- before this rally ends and a big correction takes hold, or this might be its beginning.
A friend today sent me a technical article about the diamond formation in gold, but it doesn't look like that sort of topping formation to me. Nor does the rising wedge pointed out in the same article impress me much, and here's why: I learned my lesson about those rising wedges by watching the Dow in the 1990s. The rising wedge is supposed to be bearish, but that Dow would form 'em over and over, then break out UPwards. Can't always trust those rising wedges in a bull market.
But Gold has broken down in the last two days below its rising trend line from the July low at $1,478.30, & that leaves even me a might tetchious. All things taken together, though, I still don't believe this will be a giant correction for gold. I think it's a panic, and you are watching bewilderment, confusion, and fear. I believe gold will still touch $2,100 before this rally ends, but it could well see $1,675 before it does.
Do I NEED to remind y'all that this is a cause not for mourning but for buying more?
Jumpy, jumpy, jumpy! That SILVER today was jumpy.
It opened around 4060c, and held on until 9:30, when somebody turned on the waterfall. It dropped to 3920c, fought its way back to 3970c, then fell down again, losing 167.1c to close Comex at 3911.8c.
But I sure hope you didn't tuck tail and short it then, because in about 20 minutes it leapt back to 3969c. Jumpy, like I say.
Clearly silver has drawn a line in the sand at 3900c, & if it can't hold that it's liable to get sand kicked in its face. Support abounds from 3900c to 3700c, but silver has fallen thru its uptrend line, out of a triangle that whispers a target of 3876c. If the panic in Europe builds enough, it might drive silver down to its 200 dma, now at 3588c.
The bull market in silver & gold remains in full flush of life. Only change is that you are being offered some bargain prices for a while. Watch close and don't miss your chance.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Change : -35.70 or -2.0%
Silver Price Close Today : 39.11
Change : -1.67 or -4.3%
Platinum Price Close Today : 1,772.00
Change : -41.90 or -2.4%
Palladium Price Close Today : 710.35
Change : -20.85 or -2.9%
Gold Silver Ratio Today : 45.42
Change : 0.98 or 1.02%
Dow Industrial : 11,509.09
Change : 75.91 or 0.7%
US Dollar Index : 76.60
Change : 0.36 or 0.5%
Vacations are wonderfully refreshing, but they take you out of your own place to another. Places, like women, each have their own peculiar beauty, but no matter how beautiful others may be, you always prefer your own. It's good to be home.
Y'all know already that trying to find information on the Internet resembles trying to drink out of a fire hose. But that's nothing new, it's always been that way, trying to pick the important events & causes from the middling-piddling ones. Great traders, I've heard, find a few very reliable indicators & stick with those, & don't vex themselves trying to find out everything about everything.
Now I'm nothing but a natural born fool from Tennessee & don't claim to be anything more, but even I can see that some things are causes, and some effects. If you can spot those CAUSES, then 'tain't too taxing to forecast the effects.
For instance, an Obama speech is not a cause. Shucks, it ain't even an effect. It's just bloviating, whistling, skizzing, steaming, and smoking, & don't mean as much as a wasp buzzing in a jug. Sounds fierce, but can't hurt nor help nobody.
On th'other hand, the sovereign debt crisis over in Europe is a CAUSE (well, actually it's an EFFECT of central banking, but here lately it's assumed the size of a cause). Last week, S&P announced it was downgrading the credit ratings of two of the biggest French banks because of their exposure to Greek sovereign debt, and it was eyeing with jaundice another big one, BNP. Not only that, it was squinting with suspicion at the big German banks. Just to mix things up real special, the Eurocrats announced they wouldn't give Greece its promised next dose of bail out if Greece didn't get on the stick & fire a hundred thousand or so government "workers" & kiss the dirt and kowtow more earnestly. That provoked the appearance of the NEXT cause.
Five central banks -- the ECB, Fed, Bank o'England, Bank o'Japan, & Swiss National Bank -- announced they were opening the 2nd story window & flinging out dollars for the banks to pick up, seeing as they needed 'em so bad. And they'd make it easy with "repurchase agreement."
Think of it this way: you have a really sorry old Ford car, & you need money really bad. You don't just go down to the car title lender with that thing dusty and dirty. No, first you detail that rascal, to make it look like something. But then you get there, & lo an behold! That usurious scoundrel at the title discount shop just beams and smiles like you had driven up in a new BMW, & he's happy as a beaver in bark to loan you something on your sorry old Ford, but you have to pay him back in 90 days.
In a repurchase agreement, the central banks agree to loan dollars for whatever "collateral" -- sorry Greek debt, rotten Portuguese debt, bad stinking mortgage-backed securities -- the banks want to put up, but at the end of 3 months, the Central Banks get back their US dollars, & the banks get back their sorry paper.
What signifieth this moiling hugger-mugger? Just this: central banks have only two weapons in a crisis, BLARNEY & LIQUIDITY. This re-purchase offer is the liquidity cannon firing. A panic is brewing with a flight to US dollars, so the central banks will temporarily flood the market with dollars to meet the crisis, then soak them back up in 90 days to minimize the damage -- or so they think.
The repurchase offer, complete with public and publicized co-operation among five central banks (the blarney cannon a-blazing away) shouts, screams, & outright hollers that a big panic is loose, & the central banks are desperate to stanch the flow of liquidity out of the system.
Now you can sit there calmly sipping on your High Fructose Corn Syrup drenched fizzy drink if you want, but this leaves me somewhat less than optimistic about the state of the financial system. For me, here's what I'd do:
1. Reduce bank balances to the absolute minimum needed for the next three months.
2. Get at least three months' cash needs in currency. If it costs you $3,000 a month to live, get $9,000 and put it someplace you can reach it 24 hours a day.
3. Put unused cash balances into gold. It may go down, but at least I can get my hands on it, whereas those balances in banks? Well, maybe we'll let you have it, and maybe we won't, if we need it worse than you. Maybe we'll let you have just a little drab and drib of it, with limited withdrawals. & remember, we're the banks, & we've got the government to back us up.
Don't y'all ever forget this: a bank is a thirty-horse, multi-action, sharp-knived, steam-powered threshing machine, & when it gets finished with you, there won't be enough scrimpshions left to cover a pin head with.
But you all go on enjoying your HFCS drink, & don't pay me no mind. I'm just a natural born fool anyway.
D'yall notice that the US dollar index was at 77.193 a week ago Friday, & today it's at 77.146? Now ain't THAT something, what with the whole world pressing into dollars? Nope, that's the result of the central banks' junk-buying drive. Them boys is desperate to keep that dollar down, but that old dog won't hunt. Dollar has broken away and is pounding strenuously on the top of its trading channel. Those central banks will have to sell a powerful lot of dollars to drive it down.
Like the mirror image but worse, that Euro has broken DOWN out of its trading channel, and to make matters worse, it gapped down today. Closed at 1.3685, down 0.79% and falling toward 1.3000 faster than quicksilver can get thru a sifter. Yen closed at 130.57c/Y100 (Y76.6/$1), but wants to rise, too.
Stocks didn't have as much chance today as a fat fly at a frog convention. Dow lost 108.08 (0.94%) to close 11,401.01 and right by its side the S&P500 dropped 11.92 (0.98%) and closed 1,204.09. Dow did barely manage to close above its 20 day moving average (11,291) after it hit it during the day, but it was a day spent wallowing underwater. So 'twas around the world.
Stocks -- better than a government job for guaranteeing your future prosperity.
I like to focus on the tallest cause around, 'cause that usually explains so much. Hence today I'm eyeing the central banks' dollar surprise party. Now if I were the Nice Government Men charged with Saving The World For The Banks, & I was running a special dollar giveaway to stem panic, you don't reckon I'd forget even for a minute to knock down that gold market, do you?
And when I look at that chart, I see that the GOLD PRICE reached $1,826, and then something -- natural forces? Aliens? NGM? -- whacked it back to $1,810. But look here -- when it fell through $1,810, somebody commenced to selling, and lots. Gold tumbled all the way to $1,771.50 like somebody throwing a wrench out of a car window. Time Comex closed it has lost $35.80 to $1,776.70.
But setting my suspicions aside, technically gold has drawn a double top around $1,920, and trended down since the second top, foretelling lower prices. (A close above the 20 dma and lateral support around $1,825 would gainsay that outlook.) Support lies at $1,750, $1,705, and $1,675.
Yet to promote humility and an accurate view of my talents & yours, I hasten to point out that gold (and all other markets) have been so jumpy lately that it's tough to way what they might do. Gold may yet break to new highs -- higher than $1,920 -- before this rally ends and a big correction takes hold, or this might be its beginning.
A friend today sent me a technical article about the diamond formation in gold, but it doesn't look like that sort of topping formation to me. Nor does the rising wedge pointed out in the same article impress me much, and here's why: I learned my lesson about those rising wedges by watching the Dow in the 1990s. The rising wedge is supposed to be bearish, but that Dow would form 'em over and over, then break out UPwards. Can't always trust those rising wedges in a bull market.
But Gold has broken down in the last two days below its rising trend line from the July low at $1,478.30, & that leaves even me a might tetchious. All things taken together, though, I still don't believe this will be a giant correction for gold. I think it's a panic, and you are watching bewilderment, confusion, and fear. I believe gold will still touch $2,100 before this rally ends, but it could well see $1,675 before it does.
Do I NEED to remind y'all that this is a cause not for mourning but for buying more?
Jumpy, jumpy, jumpy! That SILVER today was jumpy.
It opened around 4060c, and held on until 9:30, when somebody turned on the waterfall. It dropped to 3920c, fought its way back to 3970c, then fell down again, losing 167.1c to close Comex at 3911.8c.
But I sure hope you didn't tuck tail and short it then, because in about 20 minutes it leapt back to 3969c. Jumpy, like I say.
Clearly silver has drawn a line in the sand at 3900c, & if it can't hold that it's liable to get sand kicked in its face. Support abounds from 3900c to 3700c, but silver has fallen thru its uptrend line, out of a triangle that whispers a target of 3876c. If the panic in Europe builds enough, it might drive silver down to its 200 dma, now at 3588c.
The bull market in silver & gold remains in full flush of life. Only change is that you are being offered some bargain prices for a while. Watch close and don't miss your chance.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Friday, September 16, 2011
Gold Price Closed Today at 1,812.10
Gold Price Close Today : 1,812.10
Gold Price Close 09-Sep : 1,856.40
Change : -44.30 or -2.4%
Silver Price Close Today : 40.78
Silver Price Close 09-Sep : 41.57
Change : -0.79 or -1.9%
Platinum Price Close Today : 1,813.90
Platinum Price Close 09-Sep : 1,837.90
Change : -24.00 or -1.3%
Palladium Price Close Today : 731.20
Palladium Price Close 09-Sep : 737.10
Change : -5.90 or -0.8%
Gold Silver Ratio Today : 44.44
Gold Silver Ratio 09-Sep : 44.66
Change : -0.22 or 1.00%
Dow Industrial : 11,509.09
Dow Industrial 09-Sep: 11,295.81
Change : 213.28 or 1.9%
US Dollar Index : 76.24
US Dollar Index 09-Sep : 76.23
Change : 0.01 or 0.0%
Important Note: Franklin Sanders is on vacation until the 19th of September. Franklin's parting commentary can be viewed here : http://silver-and-gold-prices.goldprice.org/2011/09/gold-and-silver-prices-today-proved.html
Gold Price Close 09-Sep : 1,856.40
Change : -44.30 or -2.4%
Silver Price Close Today : 40.78
Silver Price Close 09-Sep : 41.57
Change : -0.79 or -1.9%
Platinum Price Close Today : 1,813.90
Platinum Price Close 09-Sep : 1,837.90
Change : -24.00 or -1.3%
Palladium Price Close Today : 731.20
Palladium Price Close 09-Sep : 737.10
Change : -5.90 or -0.8%
Gold Silver Ratio Today : 44.44
Gold Silver Ratio 09-Sep : 44.66
Change : -0.22 or 1.00%
Dow Industrial : 11,509.09
Dow Industrial 09-Sep: 11,295.81
Change : 213.28 or 1.9%
US Dollar Index : 76.24
US Dollar Index 09-Sep : 76.23
Change : 0.01 or 0.0%
Important Note: Franklin Sanders is on vacation until the 19th of September. Franklin's parting commentary can be viewed here : http://silver-and-gold-prices.goldprice.org/2011/09/gold-and-silver-prices-today-proved.html
Tuesday, September 13, 2011
Gold Price Closed Today at $1,826.80 up $16.90 or 0.9%
Gold Price Close Today : 1,826.80
Change : 16.90 or 0.9%
Silver Price Close Today : 41.12
Change : .96 or 2.3%
Platinum Price Close Today : 1,813.50
Change : 4.10 or 0.2%
Palladium Price Close Today : 727.00
Change : 16.75 or 2.3%
Gold Silver Ratio Today : 44.43
Change : -0.64 or 0.99%
Dow Industrial : 11,105.85
Change : 44.73 or 0.4%
US Dollar Index : 77.11
Change : -0.04 or -0.1%
Important Note: Franklin Sanders is on vacation until the 19th of September. Franklin's parting commentary can be viewed here : http://silver-and-gold-prices.goldprice.org/2011/09/gold-and-silver-prices-today-proved.html
Change : 16.90 or 0.9%
Silver Price Close Today : 41.12
Change : .96 or 2.3%
Platinum Price Close Today : 1,813.50
Change : 4.10 or 0.2%
Palladium Price Close Today : 727.00
Change : 16.75 or 2.3%
Gold Silver Ratio Today : 44.43
Change : -0.64 or 0.99%
Dow Industrial : 11,105.85
Change : 44.73 or 0.4%
US Dollar Index : 77.11
Change : -0.04 or -0.1%
Important Note: Franklin Sanders is on vacation until the 19th of September. Franklin's parting commentary can be viewed here : http://silver-and-gold-prices.goldprice.org/2011/09/gold-and-silver-prices-today-proved.html
Monday, September 12, 2011
The Gold Price Closed at 1809.90 Down 46.50 or 2.6%
Gold Price Close Today : 1,809.90
Change : -46.50 or -2.6%
Silver Price Close Today : 40.16
Change : -1.41 or -3.5%
Platinum Price Close Today : 1,809.40
Change : -28.50 or -1.6%
Palladium Price Close Today : 710.25
Change : -26.85 or -3.8%
Gold Silver Ratio Today : 45.07
Change : 0.41 or 1.01%
Dow Industrial : 10,992.13
Change : -303.68 or -2.8%
US Dollar Index : 77.15
Change : 0.92 or 1.2%
Important Note: Franklin Sanders is on vacation until the 19th of September. Franklin's parting commentary can be viewed here : http://silver-and-gold-prices.goldprice.org/2011/09/gold-and-silver-prices-today-proved.html
While Franklin Sanders is away we will be documenting some of the many charts, calculators, and tools available on goldprice.org and silverprice.org. There are so many of them and we are developing new features all the time, that many of our visitors probably don't know they exist. If you have any questions on how to use any of our charts or feedback please feel free to contact us:
[email protected]
Today we are featuring another one of our popular charts. The Live Gold Price Chart which updates in real time and is our best chart for serious gold traders and those wishing to do their own technical analysis using up to the second data. The quality of this chart and the features it provides, is why many of our visitors have told us they consider this to be the best gold chart online.
The Live Gold Price Chart has become an essential tool for gold traders and gold investors around the world. There are no fees to use the charts and they provide you with unlimited access to real time and historical gold price and silver price charts. If you are looking for up to the second updates on the gold price then this is the chart for you.
This chart require java so make sure you have downloaded the latest version here. If you are still having trouble with the chart please let us know and we will help resolve any issues.
You can look at gold and silver in USD, AUD, CAD, GBP, CHF, EUR, JPY. We also provide, platinum and palladium prices, USD Index, Crude Oil Price, EUR/USD, and 28 other major currency rates.
There is a large range of time frames including tick by tick, 1, 5, 10, 15, 30 minutes, 1, 2, 4, 8 hours, daily, weekly and monthly with USD gold price data going back to 1995.
There is a range of chart types including the popular bar and line charts. One of the simplest yet most useful tools of the Live Gold Price chart is the ability to add your own trend lines and trend channels on the charts at any time frame. You can also add horizontal lines to monitor past support and resistance levels.
Another great feature is the ability to compare to different instruments on the same chart, to do this simply right click the chart area and select overlay from the menu, then the instrument you want to compare.
There is the ability to add Fibonacci retracement and many other types of lines and over 50 different studies you can add to the charts including moving averages, bollinger bands and many more.
The Live Gold Price chart is also available in 10 national currencies.
For more information on how to use these powerful charts please take a look at the Live Gold Price Manual. If you have any questions on how to use these charts or any of the charts on goldprice.org please let us know. Also if you experience any troubles viewing the chart.
[email protected]
Change : -46.50 or -2.6%
Silver Price Close Today : 40.16
Change : -1.41 or -3.5%
Platinum Price Close Today : 1,809.40
Change : -28.50 or -1.6%
Palladium Price Close Today : 710.25
Change : -26.85 or -3.8%
Gold Silver Ratio Today : 45.07
Change : 0.41 or 1.01%
Dow Industrial : 10,992.13
Change : -303.68 or -2.8%
US Dollar Index : 77.15
Change : 0.92 or 1.2%
Important Note: Franklin Sanders is on vacation until the 19th of September. Franklin's parting commentary can be viewed here : http://silver-and-gold-prices.goldprice.org/2011/09/gold-and-silver-prices-today-proved.html
While Franklin Sanders is away we will be documenting some of the many charts, calculators, and tools available on goldprice.org and silverprice.org. There are so many of them and we are developing new features all the time, that many of our visitors probably don't know they exist. If you have any questions on how to use any of our charts or feedback please feel free to contact us:
[email protected]
Today we are featuring another one of our popular charts. The Live Gold Price Chart which updates in real time and is our best chart for serious gold traders and those wishing to do their own technical analysis using up to the second data. The quality of this chart and the features it provides, is why many of our visitors have told us they consider this to be the best gold chart online.The Live Gold Price Chart has become an essential tool for gold traders and gold investors around the world. There are no fees to use the charts and they provide you with unlimited access to real time and historical gold price and silver price charts. If you are looking for up to the second updates on the gold price then this is the chart for you.
This chart require java so make sure you have downloaded the latest version here. If you are still having trouble with the chart please let us know and we will help resolve any issues.
You can look at gold and silver in USD, AUD, CAD, GBP, CHF, EUR, JPY. We also provide, platinum and palladium prices, USD Index, Crude Oil Price, EUR/USD, and 28 other major currency rates.
There is a large range of time frames including tick by tick, 1, 5, 10, 15, 30 minutes, 1, 2, 4, 8 hours, daily, weekly and monthly with USD gold price data going back to 1995.
There is a range of chart types including the popular bar and line charts. One of the simplest yet most useful tools of the Live Gold Price chart is the ability to add your own trend lines and trend channels on the charts at any time frame. You can also add horizontal lines to monitor past support and resistance levels.
Another great feature is the ability to compare to different instruments on the same chart, to do this simply right click the chart area and select overlay from the menu, then the instrument you want to compare.
There is the ability to add Fibonacci retracement and many other types of lines and over 50 different studies you can add to the charts including moving averages, bollinger bands and many more.
The Live Gold Price chart is also available in 10 national currencies.
For more information on how to use these powerful charts please take a look at the Live Gold Price Manual. If you have any questions on how to use these charts or any of the charts on goldprice.org please let us know. Also if you experience any troubles viewing the chart.
[email protected]
Friday, September 09, 2011
Gold Price Close Today at 1,856.40 Silver Price Closed Today at $41.57
Gold Price Close Today : 1,856.40
Gold Price Close 02-Sep : 1,873.70
Change : -17.30 or -0.9%
Silver Price Close Today : 41.57
Silver Price Close 02-Sep : 43.02
Change : -1.45 or -3.5%
Platinum Price Close Today : 1,837.90
Platinum Price Close 02-Sep : 1,884.80
Change : -46.90 or -2.6%
Palladium Price Close Today : 737.10
Palladium Price Close 02-Sep : 781.10
Change : -44.00 or -6.0%
Gold Silver Ratio Today : 44.66
Gold Silver Ratio 02-Sep : 43.55
Change : 1.10 or 1.03%
Dow Industrial : 11,295.81
Dow Industrial 02-Sep: 11,493.57
Change : -197.76 or -1.8%
US Dollar Index : 76.23
US Dollar Index 02-Sep : 74.49
Change : 1.74 or 2.3%
Important Note: Franklin Sanders is on vacation until the 19th of September. Franklin's parting commentary can be viewed here : http://silver-and-gold-prices.goldprice.org/2011/09/gold-and-silver-prices-today-proved.html
While Franklin Sanders is away we will be documenting some of the many charts, calculators, and tools available on goldprice.org and silverprice.org. There are so many of them and we are developing new features all the time, that many of our visitors probably don't know they exist. If you have any questions on how to use any of our charts or feedback please feel free to contact us:
[email protected]
Today we are featuring some of our most popular charts. The 3 day chart is great for looking at the short term movements in the gold and silver price. The 3 day charts include the daily high and low price in the top left and the price change in $ and the % change for the last 3 days in the top right.
All of these charts we are documenting today are available on our SPOT GOLD page http://goldprice.org/spot-gold.html. You can find a link to this page in the menu of the website or by clicking on the 24 hour chart at the top of the front page. The SPOT GOLD page updates automatically every minute, so there is no need to refresh the page in your browser to get the latest gold price.
Gold Price Close 02-Sep : 1,873.70
Change : -17.30 or -0.9%
Silver Price Close Today : 41.57
Silver Price Close 02-Sep : 43.02
Change : -1.45 or -3.5%
Platinum Price Close Today : 1,837.90
Platinum Price Close 02-Sep : 1,884.80
Change : -46.90 or -2.6%
Palladium Price Close Today : 737.10
Palladium Price Close 02-Sep : 781.10
Change : -44.00 or -6.0%
Gold Silver Ratio Today : 44.66
Gold Silver Ratio 02-Sep : 43.55
Change : 1.10 or 1.03%
Dow Industrial : 11,295.81
Dow Industrial 02-Sep: 11,493.57
Change : -197.76 or -1.8%
US Dollar Index : 76.23
US Dollar Index 02-Sep : 74.49
Change : 1.74 or 2.3%
Important Note: Franklin Sanders is on vacation until the 19th of September. Franklin's parting commentary can be viewed here : http://silver-and-gold-prices.goldprice.org/2011/09/gold-and-silver-prices-today-proved.html
While Franklin Sanders is away we will be documenting some of the many charts, calculators, and tools available on goldprice.org and silverprice.org. There are so many of them and we are developing new features all the time, that many of our visitors probably don't know they exist. If you have any questions on how to use any of our charts or feedback please feel free to contact us:
[email protected]
Today we are featuring some of our most popular charts. The 3 day chart is great for looking at the short term movements in the gold and silver price. The 3 day charts include the daily high and low price in the top left and the price change in $ and the % change for the last 3 days in the top right.
All of these charts we are documenting today are available on our SPOT GOLD page http://goldprice.org/spot-gold.html. You can find a link to this page in the menu of the website or by clicking on the 24 hour chart at the top of the front page. The SPOT GOLD page updates automatically every minute, so there is no need to refresh the page in your browser to get the latest gold price.
3 day Spot Gold Price Chart - Available at http://goldprice.org/spot-gold.html in 27 national currencies in ounces, grams and kilos.
3 day Spot Gold Silver Chart - Available at http://goldprice.org/spot-gold.html in 17 national currencies in ounces and kilos.
3 day Gold Silver Ratio Chart - Available at http://goldprice.org/spot-gold.html The Silver Gold Ratio Chart is also available.
60 Day Gold Price Chart - Available at http://goldprice.org/spot-gold.html in 27 national currencies in ounce, grams and kilos. Other time frames available include 30, 60 days, 6 months, 1, 2, 5, 10 15, 20, 30 years and all data which goes back to 1973.
60 Day Silver Price Chart - Available at http://goldprice.org/spot-gold.html in 17 national currencies in ounces and kilos. Other time frames available include 30, 60 days, 6 months, 1, 2, 5, 10 15, 20, 30 years and all data which goes back to 1973.
Thursday, September 08, 2011
Gold and Silver Prices Today Proved that You'd Better Not Turn Your Back on Them or Short Them
Gold Price Close Today : 1854.40
Change : 40.20 or 2.2%
Silver Price Close Today : 42.479
Change : 0.907 or 2.2%
Gold Silver Ratio Today : 43.65
Change : 0.015 or 0.0%
Silver Gold Ratio Today : 0.02291
Change : -0.000008 or 0.0%
Platinum Price Close Today : 1861.70
Change : 39.90 or 2.2%
Palladium Price Close Today : 757.20
Change : 3.75 or 0.5%
S&P 500 : 1,186.25
Change : -12.37 or -1.0%
Dow In GOLD$ : $126.10
Change : $ (3.96) or -3.0%
Dow in GOLD oz : 6.100
Change : -0.191 or -3.0%
Dow in SILVER oz : 266.29
Change : -8.29 or -3.0%
Dow Industrial : 11,311.82
Change : -103.04 or -0.9%
US Dollar Index : 76.24
Change : 0.775 or 1.0%
This will be my last commentary until I return from vacation on 19 September. I'll miss y'all. goldprice.org will publish daily closing prices during Franklin's vacation.
GOLD and SILVER PRICES today proved that you'd better not turn your back on them or short them. Confirms my suspicion hinted at yesterday that this will NOT prove a deep or long correction. SILVER and GOLD PRICES will begin rallying again, soon.
Euro finally tanked today, now at 1.3892, down 1.15%. On its way to 1.2000. Whole continent coming apart, especially Greece. May manage to cobble it together, but the eurocrats aren't working toward it speedily.
US DOLLAR INDEX is breaking through top of resistance at 72, now 72.242, up 77.5 basis points or 1%. Rally has begun, but be not fooled, be not gulled, be not seduced. Huge head and shoulders $ index target points to 39 [sic]. It may tarry, but it will come.
Stocks have sunk here at 2:55 to 11,311.82, down 103.04. S&P 500 down 12.37, at 1,186.25.
Stocks -- the key to prosperity (a couple of decades from now).
The GOLD PRICE rose $40.20 to close Comex at $1,854.40, then has risen another $14 in the aftermarket to $1,868.50. Plainly gold does not want to tarry below $1,820. Watch that level, and $1,800, but looks like it will move sideways a day or two, await the O'Bama's bloviating, then rally again. Close above $1,920 will carry it to $2,100.
The SILVER PRICE rose 90.7c, as the gold/silver ratio and silver's barely lower close yesterday hinted to us. Closed Comex at 4247.9c, with a 4262 high. Again, no great correction will happen here before silver rallies once again. Must hold 4050c to make that come true.
Grasp this, remember this, never forget this: SILVER and GOLD PRICES are in a bull market, stocks and the dollar in a bear market. Silver and gold tomorrow will be worth more than silver and gold today; stocks and dollars tomorrow will be worth LESS than stocks and dollars today. Align your assets accordingly, or suffer with the deceived masses waiting for Washington to save them.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don't.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Change : 40.20 or 2.2%
Silver Price Close Today : 42.479
Change : 0.907 or 2.2%
Gold Silver Ratio Today : 43.65
Change : 0.015 or 0.0%
Silver Gold Ratio Today : 0.02291
Change : -0.000008 or 0.0%
Platinum Price Close Today : 1861.70
Change : 39.90 or 2.2%
Palladium Price Close Today : 757.20
Change : 3.75 or 0.5%
S&P 500 : 1,186.25
Change : -12.37 or -1.0%
Dow In GOLD$ : $126.10
Change : $ (3.96) or -3.0%
Dow in GOLD oz : 6.100
Change : -0.191 or -3.0%
Dow in SILVER oz : 266.29
Change : -8.29 or -3.0%
Dow Industrial : 11,311.82
Change : -103.04 or -0.9%
US Dollar Index : 76.24
Change : 0.775 or 1.0%
This will be my last commentary until I return from vacation on 19 September. I'll miss y'all. goldprice.org will publish daily closing prices during Franklin's vacation.
GOLD and SILVER PRICES today proved that you'd better not turn your back on them or short them. Confirms my suspicion hinted at yesterday that this will NOT prove a deep or long correction. SILVER and GOLD PRICES will begin rallying again, soon.
Euro finally tanked today, now at 1.3892, down 1.15%. On its way to 1.2000. Whole continent coming apart, especially Greece. May manage to cobble it together, but the eurocrats aren't working toward it speedily.
US DOLLAR INDEX is breaking through top of resistance at 72, now 72.242, up 77.5 basis points or 1%. Rally has begun, but be not fooled, be not gulled, be not seduced. Huge head and shoulders $ index target points to 39 [sic]. It may tarry, but it will come.
Stocks have sunk here at 2:55 to 11,311.82, down 103.04. S&P 500 down 12.37, at 1,186.25.
Stocks -- the key to prosperity (a couple of decades from now).
The GOLD PRICE rose $40.20 to close Comex at $1,854.40, then has risen another $14 in the aftermarket to $1,868.50. Plainly gold does not want to tarry below $1,820. Watch that level, and $1,800, but looks like it will move sideways a day or two, await the O'Bama's bloviating, then rally again. Close above $1,920 will carry it to $2,100.
The SILVER PRICE rose 90.7c, as the gold/silver ratio and silver's barely lower close yesterday hinted to us. Closed Comex at 4247.9c, with a 4262 high. Again, no great correction will happen here before silver rallies once again. Must hold 4050c to make that come true.
Grasp this, remember this, never forget this: SILVER and GOLD PRICES are in a bull market, stocks and the dollar in a bear market. Silver and gold tomorrow will be worth more than silver and gold today; stocks and dollars tomorrow will be worth LESS than stocks and dollars today. Align your assets accordingly, or suffer with the deceived masses waiting for Washington to save them.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
© 2011, 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.
Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
Subscribe to:
Posts (Atom)