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Tuesday, February 05, 2013

The Gold Price Pushed Higher Today then Fell $2.90 Silver Closed Higher

Gold Price Close Today : 1672.40
Change : -2.90 or -0.17%

Silver Price Close Today : 31.859
Change : 0.159 or 0.50%

Gold Silver Ratio Today : 52.494
Change : -0.355 or -0.67%

Silver Gold Ratio Today : 0.01905
Change : 0.000128 or 0.68%

Platinum Price Close Today : 1705.70
Change : 9.10 or 0.54%

Palladium Price Close Today : 765.05
Change : 7.65 or 1.01%

S&P 500 : 1,511.29
Change : 1,558.00 or -3335.47%

Dow In GOLD$ : $172.79
Change : $ 7.50 or 4.54%

Dow in GOLD oz : 8.359
Change : 0.363 or 4.54%

Dow in SILVER oz : 438.79
Change : 0.93 or 0.21%

Dow Industrial : 13,979.30
Change : 99.20 or 0.71%

US Dollar Index : 79.54
Change : 0.020 or 0.03%

The silver and GOLD PRICE tugged against each other today. Gold fell 2.90 to $1,672.40 but silver rose 15.9 cents to 3185.9c.

Gold pushed higher today, up to $1,683.63, but that's the very area that for nearly a fortnight has blocked it. Lows have been climbing the last four days. Today gold stopped at $1,667.

But back away from that short term chart. On the longer chart Gold has built a falling wedge, broken out to the upside through the top of that wedge, and traded sideways. Someday soon it will puncture $1,705, and then the fun will begin. The GOLD PRICE must hold $1,655 down below.

Since mid-January the SILVER PRICE has been wrestling with 3200c and 3250c. Today it once again reached that area (3203c) but fell back. Lows are rising.

Silver's chart shows more strength than gold's. Like gold, it has broken out of a falling wedge, then traded sideways into an even-sided triangle. Soon it will break out of that triangle, up or down. My money's on up, but I don't buy lottery tickets.

Y'all, it's cruel to keep me in here. It's about 65 degrees, sky is clear, sun is bright, and through my window I can hear and see the lambs jumping and playing in my pasture. No day for me to stay inside and stare at a computer screen. What mind I've got left keeps on wandering outside. Makes me want to run wild over the mountaintops.

Been thinking today. Unless y'all have been watching the economy and money supply and Fed for years, y'all cannot appreciate how much money they have created since 2007. Used to talk about billions, now it's trillions. Sure mark of a market blowing off or near the end of a bull move is a straight up or hyperbolic rise. That's what they're working on printing money, and not just the Fed but all the world's central banks. I read today some 40 of 'em have a zero interest rate policy right now. You can call me a natural born fool from Tennessee and brush whatever I say aside, but truth's truth: they're going to blow up the whole system. That's why you need to buy silver and gold. Let 'em go over the cliff by themselves.

Stocks bounced back today, but couldn't clear 14,000. Dow added 99.22 (0.71%) to 13,979.30. S&P500 gained 15.58 (1.04%) to 1,511.29.

It's a mania. I don't care what all the performers on CNBC and the rest say, it's a mania, and it will end as all manias end, with an explosion followed by sorrow, weeping, and wailing. Y'all watch yourselves.

US dollar index climbed back up off its support, but at day's end had only lost 2 basis points to end at 79.54. What can you say? It's below all its moving averages, pushed up against support, and been declining since November. Don't sound like a winning lottery ticket to me.

Those Japanese are fighting the currency wars in earnest. Yen just keeps on plunging, down another 1.41% today to 106.82 cents/Y100. Will the Japanese finally stop at 100c/Y100? Europeans, Koreans, Americans -- none of 'em will be able to sell exports with the yen that low. Somebody's gonna get mad.

And the Euro keeps rising against the US dollar, up 0.47 today to $1.3711, first close above $1.3700 for this move. Has its eye on $1.425.

US$1=Y93.62=E0.7293=0.031388 oz. Ag=0.000598 oz Au.

Two of the puzzlingest charts I've ever seen are the Dow in Gold and the Dow in Silver. Dow/Gold looks like an island reversal top, but unless gold breaks out upside soon, Dow/Gold could drive for 9.12 oz (G$188.53 gold dollars). Dow in silver is even jumpier, all over the place, gaping up then gapping down, and now just below the downtrend line and almost through the 20 DMA. Can only watch until it reveals its mind, but I know at least that because stocks are locked in a bear market against silver and gold, eventually both these charts will resume falling.

Tyrants don't always win. On 5 February 1937 Franklin Roosevelt announced a plan to pack the Supreme Court with his own appointees, increasing the judges' number to 15. Comrade Roosevelt was ticked because the Supreme Court had refused to rubber stamp his fascist revolution. Clearly, they were a different bunch then than they are now. Roosevelt was beaten miserably in the Senate.

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

- Franklin Sanders, The Moneychanger
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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.