Gold Price Close 23-Nov : 1,695.90
Change : 51.10 or 3.0%
Silver Price Close Today : 3262.1
Silver Price Close 23-Nov : 3188.4
Change : 73.70 or 2.3%
Gold Silver Ratio Today : 53.554
Gold Silver Ratio 23-Nov : 53.190
Change : 0.36 or 0.7%
Silver Gold Ratio : 0.01867
Silver Gold Ratio 23-Nov : 0.01880
Change : -0.00013 or -0.7%
Dow in Gold Dollars : $ 142.22
Dow in Gold Dollars 23-Nov : $ 137.51
Change : $ 4.72 or 3.4%
Dow in Gold Ounces : 6.880
Dow in Gold Ounces 23-Nov : 6.652
Change : 0.23 or 3.4%
Dow in Silver Ounces : 368.46
Dow in Silver Ounces 23-Nov : 353.81
Change : 14.65 or 4.1%
Dow Industrial : 12,019.42
Dow Industrial 23-Nov : 11,280.90
Change : 738.52 or 6.5%
S&P 500 : 1,244.28
S&P 500 23-Nov : 1,164.41
Change : 79.87 or 6.9%
US Dollar Index : 78.637
US Dollar Index 23-Nov : 79.088
Change : -0.451 or -0.6%
Platinum Price Close Today : 1,547.70
Platinum Price Close 23-Nov : 1,552.10
Change : -4.40 or -0.3%
Palladium Price Close Today : 642.50
Palladium Price Close 23-Nov : 587.25
Change : 55.25 or 9.4%
I keep looking at the GOLD PRICE and SILVER PRICE and closes this week, and my suspicion rises like a Tyrannosaurus rex when he's hungry. Monday and Tuesday before the Fed's trick gold traded in an identical range, virtually to the penny. Then it jumped $32.10, but struggleth still to pierce $1,750.
Now if I were the Nice Government Men -- and I thank God I am not -- I would try to stifle gold in anticipation of the Swap Initiative. And of course, tis always easiest to do that by hitting silver with large selling.
So Tuesday when the GOLD PRICE rose slightly ($2.60), silver dropped 30.8c. Next day came the announcement and gold leapt $32.10 while silver vaulted 87.8c.
Does any of that look suspicious to y'all, or am I just a paranoid-conspiracy-theorist-seeing-evil- government-agents-behind-every-market-move?
Mercy, it don't matter two hoots and a holler, because the dimwits trying to manipulate the market will never succeed at it, more than a day or two at a time. If they are so powerful and were really able to keep the gold price down, why has gold risen from $252 in 2001 to $1,745 today and silver from 401c to 3262.1c today?
Yeah, boy, they're as adept at that as they are at delivering mail.
GOLD closed today up $11.70 to $1,747.00 while silver fell off 7.4c to 3262.1. Now that might be manipulation and conspiracy, but it might merely represent longs taking profits on silver at week's end.
Lines are plainly drawn in the sand. Gold must pierce $1,750, silver must pierce 3300c, then 3400c. Down below gold must not drop lower than $1,720 or silver lower than 3150c.
I am still hesitating to decide, but as day passes day it looks less and less like silver and gold will hit lower lows than those we've seen.
Lift up your eyes to the horizon, and think. The GOLD PRICE and SILVER PRICE are rising, all else falling. If the US government and the Fed wants to offer you a SUBSIDY to buy silver and gold by driving the price down temporarily, why wouldn't you take the subsidy and buy?
I based this week's scorecard on last Wednesday's closes, since last Friday was a holiday. What leaps at your eyeballs first? Stocks jumped nearly 7% this week, thanks to the Fed's propaganda move, the swap initiative. The quotation above shows you what I think of that, namely, it will accomplish no more than a brief flash in the pan, then stocks will fall to lower levels than they enjoyed before the Fed's trick. Count on that.
The Fed's dog and pony show didn't hurt silver and gold, either, up 2.3% and 3% respectively. Clearly, very few in the public have yet realized what central banks are doing to them, since the Fed has now joined them all in a cartel to inflate even more -- proving once again, as if any of y'all were blind, stupid, and deaf enough to have missed all the previous occasions when they've demonstrated the same, that they have no other remedy but to inflate. And as long as they inflate, silver and gold will keep on rising and the economy will keep on dying.
Dow closed at 12,019.42 today, grinding lower all day to end at 0.61 points down. S&P500 dropped 0.3 to 1,244.28. Overhead 12,200 is resistance, below support lies at 11,200. That latter will be the next level broken.
US DOLLAR INDEX dropped with the Fed's announcement, but has recovered. Today it rose 30.9 basis points (0.4%) to 78.637. The top of the foregoing trading channel comes in today about 77.50. Truly, though, I will count the dollar as rising and likely to rise much more, as long as it remains above 78.50.
There might be some undertaking more inefficient, froward, and moronic that a central bank, but it hasn't been seen since the Soviet Union collapsed.
Fed's dancy-dance did almost nothing for the Euro. It rose two days, then today gave back almost 100% of the gain. Closed 1.3394, down 0.52%, and still sinking like a lump in a churn.
Yen remains under the thumb of the Nice Government Men. Closed today at 128.320c/Y100 (Y77.94/$1).
Y'all enjoy your weekend!
- 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 bubble has burst, primary trend down.
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.
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.
