Buy Gold and Silver How to Buy Gold How to Buy Silver Gold Commentary

Wednesday, January 16, 2013

The Gold Price Lost 70 Cents Closing at $1,682.70 Silver Up Slightly

Gold Price Close Today : 1682.70
Change : 0.70 or 0.04%

Silver Price Close Today : 31.514
Change : 0.016 or 0.05%

Gold Silver Ratio Today : 53.395
Change : -0.005 or -0.01%

Silver Gold Ratio Today : 0.01873
Change : 0.000002 or 0.01%

Platinum Price Close Today : 1692.20
Change : 4.20 or 0.25%

Palladium Price Close Today : 725.70
Change : 13.10 or 1.84%

S&P 500 : 1,472.63
Change : 0.29 or 0.02%

Dow In GOLD$ : $165.98
Change : $ 7.50 or 4.73%

Dow in GOLD oz : 8.029
Change : 0.363 or 4.73%

Dow in SILVER oz : 428.74
Change : -0.97 or -0.23%

Dow Industrial : 13,511.23
Change : -23.60 or -0.17%

US Dollar Index : 79.81
Change : 0.040 or 0.05%

The silver and GOLD PRICE didn't agree today, either, but in the past that has often led to good things on the morrow. Silver gained 1.6 cents to 3151.4c while gold lost a measly 70 cents to $1,682.70.

The GOLD PRICE is trapped in a $1,675 - $1,685 range established the last two days. Any close inside that range means nothing, and a close above or below will take gold that same direction for a few days. Down below $1,665 and $1,655 remain firm.

Like gold, the SILVER PRICE has trapped itself in a range the past two days, 3150 above and 3100 below.

If they break to the upside, silver and gold will likely jump a long ways. I would buy the breakout, which requires silver above 3200c and gold over $1,695.

Fairly quiet day across markets.

US dollar index rose a whopping 4 basis points to close 79.811, still not effectively piercing the 79.80-.90 barrier. Dollar's treading water, and without a life jacket will go under. But central banks are in the life-jacket business.

Euro made an inchmeal push down, losing 0.13% to $1.3290. Uptrend still in force.,

Yen rose 0.46% today to 113.14. I believe we've seen the end of that waterfall.

US$1 =Y88.39=E0.7524=0.031732 oz silver=0.000591 oz gold.

Stocks couldn't agree today, not a good sign for them. Dow fell 23.6 to 13,511.23 while the S&P500 gained a nothing 0.29 to 1,472.63. Plenty more upside left for stocks in their final dance with death, but having a hard time penetrating 13,600.

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

- Franklin Sanders, The Moneychanger
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© 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. No, I don't.