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. 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

© 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.