Gold Price Close Today : 1613.80
Change : 6.30 or 0.39%
Silver Price Close Today : 29.179
Change : 0.396 or 1.38%
Gold Silver Ratio Today : 55.307
Change : -0.542 or -0.97%
Silver Gold Ratio Today : 0.01808
Change : 0.000175 or 0.98%
Platinum Price Close Today : 1579.10
Change : -2.40 or -0.15%
Palladium Price Close Today : 755.05
Change : -1.35 or -0.18%
S&P 500 : 1,545.82
Change : -12.89 or -0.83%
Dow In GOLD$ : $184.73
Change : $ 7.50 or 4.23%
Dow in GOLD oz : 8.936
Change : 0.363 or 4.23%
Dow in SILVER oz : 494.25
Change : -9.93 or -1.97%
Dow Industrial : 14,421.72
Change : -90.01 or -0.62%
US Dollar Index : 82.78
Change : -0.094 or -0.11%
The GOLD PRICE bounced back after yesterday's stumble to gain $6.30 and close Comex at $1,613.80. Silver broke out of that pennant/triangle today, toward the stratosphere. Rose 39.6 cents and closed 2917.9c.
Not supposed to send y'all a commentary today, but I couldn't resist telling y'all about today.
The GOLD PRICE barely extended its trading range with a high at $1,616.34. Low came at a$1,606.90 -- higher highs, higher lows.
That's gold's eighth day above and outside the pennant it broke out of. Don't know how much more confirmation you might need. Must now pass some milestones, like $1,625 - $1,630 but it's on the road.
I wrote yesterday that the SILVER PRICE was the buzzing fly in the ointment. 'Tain't no more. Busted clean through that upper resistance line and clean through the 20 day moving average (2887c). Next hurdle is 3050c.
All clear for a continuing rally, unless silver closes below 2900c and gold below $1,600. Watch gold, since it's the leader right now.
That ain't all. Dow in Silver gapped down today, punched into the 20 DMA and closed at 494.9 oz., practically on top of the 20 DMA at 494.58. It has fallen down out of a rising wedge, so should follow through vigorously toward the earth's core.
Dow in Gold fell again, down to 8.94 oz. This elevator's headed down!
Y'all ought not to view events in Cyprus as too distant to affect you. Ask not for whom the Cypriot bell tolls, it tolls for you. Imagine if you couldn't withdraw money from your bank for a week. EVERY family ought to have a three-month (3 month) supply of cash. Cash -- green paper money -- forms only a tee-tiny percentage of the money supply, most of which is electrons careening around in bank computers. Get some green paper money in your own hands, and keep it where you have 24-hour access.
Likewise everyone ought to have some US 90% silver coin for use as money in case the green paper money fails. Don't know how to trade with it or value it? Go to www.silverandgoldaremoney.com, the conversion website Catherine Fitts and I put up. Can convert from 50 or 60 paper currencies into more than 100 forms of silver and gold. Don't tell me you can't, 'cause we've made it possible.
Y'all, don't keep putting off these simple monetary preparations. Cyprus today, US tomorrow -- the same thieves run things here. Take care of your family.
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.