Tuesday, June 25, 2013

Silver and Gold Prices Have Gone Flat Both are Strongly Oversold

Gold Price Close Today : 1274.80
Change : -2.00 or -0.16%

Silver Price Close Today : 19.526
Change : 0.033 or 0.17%

Gold Silver Ratio Today : 65.287
Change : -0.213 or -0.33%

Silver Gold Ratio Today : 0.01532
Change : 0.000050 or 0.33%

Platinum Price Close Today : 1350.50
Change : 21.40 or 1.61%

Palladium Price Close Today : 667.15
Change : 11.05 or 1.68%

S&P 500 : 1,588.03
Change : 14.94 or 0.95%

Dow In GOLD$ : $239.35
Change : $ 2.01 or 0.85%

Dow in GOLD oz : 11.579
Change : 0.097 or 0.85%

Dow in SILVER oz : 755.93
Change : 3.89 or 0.52%

Dow Industrial : 14,760.31
Change : 100.75 or 0.69%

US Dollar Index : 82.541
Change : -0.077 or -0.09%

Both silver and GOLD PRICES have gone flat. Gold's trading range today was only $10.70 and silver's only 31.4 cents. Dead. Flatlining. No life.

The SILVER PRICE actually rose 3.3 cents today to 1952.6c while the gold price fell $2.00 to $1.274.80.

Both are strongly oversold, way below 30 on the RSI, but no sign of life appeareth.

Might as well enjoy your summer while you're waiting for silver and GOLD PRICES to come back, because right now they're not in a hurry. Come back they will, but I'm going to stop plaguing myself about it and take a long view.

Somebody pointed out to me yesterday that Ben Bernanke is from Augusta, Georgia -- the South. I am so ashamed.

But then the Federal Reserve scheme was hatched in Georgia, too. On Jekyll Island. What's the matter down there? Somebody from North Carolina -- I mention no names -- once said, if you want to know what 250,000 Confederate soldiers died to prevent, look at Atlanta.

Stocks bounced a little today. It's remotely possible that yesterday marked the bottom of the correction, but I doubt it. It was nothing in today's bounce -- Dow up 100.75 or 0.69% and S&P500 up 14.94 or 0.95% to 1,588.03 -- that suggested that, only that yesterday both indices touched or nearly touched the bottom trend channel line. Good place for a bounce, but no warrant the decline has ended.

Dow in Gold and Dow in silver keep tying my head in knots, refusing to break away and run up or break down and fall. Gold and silver contradicted each other today (I'll get to that later) so the Dow in Gold rose 0.097 oz to 11.579 oz or 0.85% (G$239.35 gold dollars) while the Dow in silver rose only 3.89 oz (0.52%) to 755.93.

I check the US dollar index late in the day and the price I report is compared to the one I published yesterday. Today it's trading at 82.541, down 0.77 or 0.09% from yesterday. Gained nothing, really, but remains in a sharp uptrend.

Ten year US treasury note yield rose again today, 1.61% to 25.89 (2.589%). Although the close was higher, the intraday high was lower. Indicators show it way overbought, which means, ripe for a correction. However, it broke away with a gap, and the move probably won't end without an exhaustion gap.

Although the dollar index was roughly flat today, the Euro dropped 029% to $1.3082 and the yen lost 0.08% to 102.22. Both are merely pausing in sharp downtrends.

Y'all listen now, and don't forget this: ALL government help, like all government money, comes with a sock in the jaw.

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.