Friday, March 23, 2012

The Gold Price Close Up 0.4 Percent for the Week at $1,655.50 Must Hold Above the $1,627 Support

Gold Price Close Today : 1,662.30
Gold Price Close 16-Mar : 1,655.50
Change : 6.80 or 0.4%

Silver Price Close Today : 3224.8
Silver Price Close 16-Mar : 3257.3
Change : -32.50 or -1.0%

Gold Silver Ratio Today : 51.547
Gold Silver Ratio 16-Mar : 50.824
Change : 0.72 or 1.4%

Silver Gold Ratio : 0.01940
Silver Gold Ratio 16-Mar : 0.01968
Change : -0.00028 or -1.4%

Dow in Gold Dollars : $ 162.67
Dow in Gold Dollars 16-Mar : $ 165.23
Change : $ (2.56) or -1.6%

Dow in Gold Ounces : 7.869
Dow in Gold Ounces 16-Mar : 7.993
Change : -0.12 or -1.6%

Dow in Silver Ounces : 405.63
Dow in Silver Ounces 16-Mar : 406.24
Change : -0.61 or -0.2%

Dow Industrial : 13,080.73
Dow Industrial 16-Mar : 13,232.55
Change : -151.82 or -1.1%

S&P 500 : 1,397.11
S&P 500 16-Mar : 1,404.16
Change : -7.05 or -0.5%

US Dollar Index : 79.366
US Dollar Index 16-Mar : 79.801
Change : -0.435 or -0.5%

Platinum Price Close Today : 1,626.20
Platinum Price Close 16-Mar : 1,672.70
Change : -46.50 or -2.8%

Palladium Price Close Today : 659.20
Palladium Price Close 16-Mar : 697.80
Change : -38.60 or -5.5%

GOLD PRICE surprised everyone today by jumping $20 to close $1,662.30. Short covering before the weekend could account for that, but gold also closed up 0.4% this week, even after some terrible days. The GOLD PRICE has caught on an internal support line, but if it breaks down through $1,627, it will hit the skids. By no means out of danger yet.

SILVER PRICE lost 1% this week, but came back smartly from a 3107c low for the week. This leaves behind a V-bottom, which well might mark the farthest extent of silver's drop. However, more proof is needed. Silver must climb above 3250c then 3300c before it regains credibility. Next week silver must not drop below 3100c, or will pay 3000c a visit.

The end to this correction for the
SILVER and GOLD PRICE is not far away, two weeks at most, I suspect. Yes, we might have seen it already, but we'll know that if we get a confirmation like this: a rise to 3300c, then a fall back to 3150c but no lower.

What an odd week. Silver and gold fell off, but ended the week higher or about even. Stocks proved unable to move higher, and fell back. Dollar still hanging on by fingernails, but platinum and palladium took a huge beating.

The Dow in Gold Dollars (Dow Industrials average valued in gold) did NOT manage to break out this week, which casts more doubt on stocks' rise.

For all the noise about last Friday's high, the Dow couldn't hold on up there and lost 1.1% to end just 80 points above 13,000, at 13,080.73, up 34.59 points (0.27%) on the day. S&P500 remains below the morale-whacking 1,400 line. Gained 4.33 today (0.31%) to close at 1,397.11. Stocks are not far from some sort of high that will remain historic for a long time, that is, they won't get that high again for a long time.

The US DOLLAR INDEX fell today to the bottom of its three week range -- again. Fell 37 basis points (0.48%) to 79.366. That points the dollar's momentum down, as it pushes it below its 50 day moving average (79.46) and its 20 DMA (79.46). For now I can only say, it remains range-bound unless it closes below 79.

Yen bounced up 0.26% today to 121.47. Last three days the yen has gapped up off a bottom and jumped higher. Penetrated but did not close above its 20 DMA. Closed today at 121.47c/Y100 (Y82.32/US$1).

Euro climbed over its 20 DMA (1.3212) to end at $1.3270, up 0.55%. Don't climb on that sinking boat -- the Euro still has $1.2000 in its future.


I don't usually stock the pre-1936 US silver dollars, because they trade at a fairly high premium over their silver content. I also don't like to stock them because they are so lovely that I cannot turn loose of them, and that is not a businesslike sentiment. Over some long time I have accumulated a pile of silver dollars, and I am selling these at 75 cents over the wholesale price, just to see them fly.

I have six lots of them, sold on a first-come, first-served basis. I am sorry, but once these are sold, I cannot re-order at these prices. When they're gone, they're gone.

LOT No. 1, One hundred (100) pre-1905 Morgan silver dollars, various dates and mint marks. The Morgan silver dollar was minted from 1878 through 1904 at San Francisco, New Orleans, Philadelphia, and Carson City. These coins all grade strictly VG (Very Good) or better, and contain 0.765 troy ounce of silver. At $29.75 each, this lot costs $2,975 + $25 shipping, a total of $3,000.00

LOT No. 2, Fifty-six (56) pre-1905 Morgans and Forty-five (45) 1921 Morgans, all strictly VG or better, $29.75 each. This lot of 101 coins costs $3,004.75 + $25 shipping, a total of $3,029.75.

LOT No. 3, One hundred Twenty-four (124) PEACE dollars minted from 1921 - 1935. This design was placed on the dollar to celebrate the end of World War I. All are strictly graded VG or better. At $28.75, this 124 piece lot costs $3,565 plus $25 shipping, a total of $3,590.00.

LOT No. 4, One hundred CULL silver dollars, graded LESS than VG. One reason I don't like to trade in dollars is that so many dealers fudge the grading. You order VG or better, but you get coins that are too worn, rim-dinged, or even holed. These are coins I have culled out for rim dings or scratches or some other flaw that disqualifies them for a strict VG grade, even though otherwise they might grade Extremely Fine (XF) or better. Might be good for barter, because I've never met anybody who wouldn't jump at a silver dollar, even a slick one. At $27.05 each, this lot of 100 cull dollars costs $2,705.00 + $25 shipping, for a total of $2,730.00

LOT No. 5, Ninety-nine (99) CULL silver dollars, graded LESS than VG. At $27.05 each, this lot costs $2,677.95 + $25 shipping or a total of $2,702.95.

LOT No. 6, Forty-eight (48) Brilliant Uncirculated (BU) pre-1905 Morgan silver dollars. These are not certified or slabbed, but they are uncirculated. Each coin grades BU or better, and contains 0.7734 troy ounce of fine silver. At $45 each (one dollar over wholesale) this lot of 48 costs $2,160.00 + $25 shipping for a total of $2,185.00.

Yes, you may order as many lots as you please, but I'm sorry, no re-orders or back-orders at these prices. Offer ends when my supply runs out. All coins are sold "as is."

ONE LAST THING. I have counted and counted these coins, but the silver termites might have gotten to them since then. My count may be short by as many as Five (5) coins. If so, I will reduce the invoice by that amount.

Special Conditions:

First come, first served, and no re-orders at these prices. I will enter orders based on the time I receive your e-mail at [email protected]

We will not take orders for less than the minimums shown above.

All sales on a strict "no-nag" basis. If you pay by check, we allow Two weeks (14 days) for your check to clear before we ship. Calls looking for your order two days after we receive your check will be politely and patiently rebuffed. If you want faster shipping, please send a wire.

Spot silver basis for all prices above is $32.25 ORDERING INSTRUCTIONS:

1. You may order by e-mail only to [email protected] No phone orders, please.

Your email must include your complete name, address, and phone number. We cannot ship to you without your address. Sorry, we cannot ship outside the United States or to Tennessee.

Repeat, your email must include your complete name, address, and phone number. We can no longer read minds.

2. Orders are on a first-come, first-served basis until supply is exhausted.

3. "First come, first-served" means that we will enter the orders in the order that we receive them by e-mail.

4. If your order is filled, we will e-mail you a confirmation. If you do not receive a confirmation, your order was not filled.

5. You will need to send payment by personal check or bank wire (either one is fine) within 48 hours. It just needs to be in the mail, not in our hands, in 48 hours.

6. We allow fourteen (14) days for personal checks to clear before we ship. If your hurry is greater than that, you can send a bank wire. Once we ship, the post office takes four to fourteen days to get the registered mail package to you. All in all, you'll see your order in about one month if you send a check.

7. Mention in your email.

Y'all enjoy your weekend!

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
10:00am-5:00pm CST, Monday-Friday

© 2012, 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.