Tuesday, March 26, 2013

The Silver and Gold Price Remain Locked in Range Gold Closed Above it's 20 Day Moving Average

Gold Price Close Today : 1595.70
Change : -8.80 or -0.55%

Silver Price Close Today : 28.644
Change : -0.141 or -0.49%

Gold Silver Ratio Today : 55.708
Change : -0.033 or -0.06%

Silver Gold Ratio Today : 0.01795
Change : 0.000011 or 0.06%

Platinum Price Close Today : 1566.00
Change : -16.90 or -1.07%

Palladium Price Close Today : 759.60
Change : 4.05 or 0.54%

S&P 500 : 1,563.77
Change : 12.08 or 0.78%

Dow In GOLD$ : $188.62
Change : $ 7.50 or 4.14%

Dow in GOLD oz : 9.124
Change : 0.363 or 4.14%

Dow in SILVER oz : 508.30
Change : 6.38 or 1.27%

Dow Industrial : 14,559.65
Change : 111.90 or 0.77%

US Dollar Index : 82.87
Change : 0.017 or 0.02%

The silver and GOLD PRICE remain locked in a range, with no relief sighted today. Gold did close above its 20 day moving average (1591.14), that is, when it fell did not fall that far. Lost $8.80 to close at $1,595.70. We'll see tomorrow whether those folks who have been willing to buy so much at $1,595 are still willing. The GOLD PRICE closed one thin dime above its low today.

The SILVER PRICE lost 14.1 cents today and closed Comex at 2864.4c, toward the bottom of its 2850c - 2950c trading range. Low today came at 2861c.

Break of the range lows here would carry gold to $1,550 - $1,560 and silver to 2700 cents, perhaps. Why metals continue to struggle so with the world banking system picking depositors' pockets, and Europe a melting fa├žade, I haven't a clue. Sooner or later, reality will assert itself, with a vengeance. Of course, if I were the Nice Government Men, I'd be hammering silver and gold for all I was worth lest they run away upside and stampede the lemmings.

Stocks rose again today. Dow gained 111.90 (0.77%) to 14,559.65. S&P marched right in step, up 12.08 (0.78%) to 1,563.74. S&P500 still hasn't reached that 2007 high. Do not give in to Wall Street's siren song. This will end badly.

Dow in gold is still rolling over, but jumped up today, but Dow in silver remained about the same.

Currencies? Who cares? It's all a lying Potemkin village put on to delude the victims, namely, us.

US dollar index was flat, gaining 1.7 basis points to 82.872. Euro rose 0.05% to $1.2861 (nothing) while the Yen gave back 0.33% to close 105.89.

I don't mind telling y'all, I am nervous, and not about metals but about the financial system. Clownish and arrogant Europeans have flashed a signal worldwide warning depositors to run on their banks. What if they do? US currency in circulation is less than $1,000 per head. How can an economy run on that? It can't. What a mess.

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.