Thursday, February 07, 2013

The Gold Price Lost $7.30 Today Closing at $1,670.40

Gold Price Close Today : 1,670.40
Change : -7.30 or -0.44%

Silver Price Close Today : 31.39
Change : -0.47 or -1.49%

Gold Silver Ratio Today : 53.219
Change : 0.563 or 1.07%

Silver Gold Ratio Today : 0.0188
Change : -0.0002 or -1.06%

Platinum Price Close Today : 1,722.30
Change : -14.35 or -1.88%

Palladium Price Close Today : 750.05
Change : -14.35 or -1.88%

S&P 500 : 1,509.39
Change : -2.73 or -0.18%

Dow In GOLD$ : $172.56
Change : $ 7.50 or 4.54%

Dow in GOLD oz : 8.35
Change : 0.36 or 4.54%

Dow in SILVER oz : 444.26
Change : 5.28 or 1.20%

Dow Industrial : 13,944.05
Change : -42.47 or -0.30%

US Dollar Index : 80.22
Change : 0.46 or 0.58%

The GOLD PRICE lost $7.30 (0.44%) today to $1,670.40 while silver lost 47.4 cents (1.49%) to 3138.7c.

"What happened, clown! You were so confident yesterday!" They hit the upper boundary of the triangle (downtrend line) & recoiled because they have not yet strength to smash through. Pretty simple, that.

The SILVER PRICE fell back below its 50 DMA (3165c) & gold remains below its 150, 50, & 20 day moving averages and today touched but did not remain below its 200 DMA.

Yep, it's frustrating, watching these triangles coil up for a strike. If you're gonna last you gonna have to develop a philosophical attitude.

Be calm. Be calm. The SILVER & GOLD PRICE are doing fine.

Sometimes you can't anticipate things because they just don't appear in the chart. Of course, most of the time, you simply miss them.

Still, I went back & looked at that US dollar index, & I saw no hint it would rise today, much less 46.2 basis points (0.59%). I reckon those Nice Government Men look at that market & just laugh & laugh to themselves at all those fools trying to play markets while they know they are manipulating them. And no market is more manipulated than the currency market.

But why would the NGM want the dollar to rise? Maybe those rising interest rates are making 'em sweat bullets and check their antiperspirant.

Deal with the reality: dollar today closed above its 20 (79.67) and 50 (79.83) day moving averages, which places it in upward mode. If so, it should meet the downtrend line about 80.40 & flatten its face against that like a dog with poor brakes chasing a squirrel up a tree. \ Yen fell a little again today, down0.11% to 106.75c/Y100. Euro has topped with that spike high last Friday, & confirmed today by PLUNGING through its uptrend line & its 20 DMA (*134.25). Fell 0.92% to $1.3398

US$1=Y93.50=E0.7464=0.031860 oz Ag=0.000599 oz Au.

Durn it! I have to report what I see. Dow formed a diamond top (broadening top) and today fell down out of that diamond to the bottom jaw of the broadening top. Anything lower than today's low (13,852) will break morale and take it lower. But with these irksome broadening tops, it might just spring right back, too. Keep you eye on that lower limit.

Dow closed down 42.47 (0.3%) at 13,944.05 & S&P500 closed down 2.75 (0.18%) at 1,509.39 Even after today the patterns in the Dow in Gold & Dow in silver remain unbroken. A breakdown is brewing on both charts, but hasn't yet shown itself. Be patient.

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

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

© 2013, 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.