Gold Price Close Today : 1312.40
Change : -11.60 or -0.88%
Silver Price Close Today : 19.617
Change : -0.049 or -0.25%
Gold Silver Ratio Today : 66.901
Change : -0.423 or -0.63%
Silver Gold Ratio Today : 0.01495
Change : 0.000094 or 0.63%
Platinum Price Close Today : 1428.40
Change : -8.20 or -0.57%
Palladium Price Close Today : 725.45
Change : -2.30 or -0.32%
S&P 500 : 1,685.73
Change : -0.23 or -0.01%
Dow In GOLD$ : $244.14
Change : $ 1.81 or 0.75%
Dow in GOLD oz : 11.810
Change : 0.088 or 0.75%
Dow in SILVER oz : 790.11
Change : 0.90 or 0.11%
Dow Industrial : 15,499.54
Change : -21.05 or -0.14%
US Dollar Index : 81.656
Change : -0.186 or -0.23%
The paper markets for SILVER and GOLD, especially Comex, are so bogus. SILVER and GOLD PRICES traded down today before the FOMC, but never with any conviction. Nonetheless the Comex closed with the GOLD PRICE down $11.60 to $1,312.40 and the SILVER PRICE down 4.9 cents to 1961.7 cents.
Why do I say they're bogus? Because now GOLD is trading at $1,326.75, up from close $2.00 and SILVER is trading 1993c, up nearly 30 cents from yesterday.
Both metals have their faces pushed up against the downtrend line, and for all silver's lukewarm performance of the last few days, I suspect the GOLD PRICE may yet climb this week. It oughtn't surprise anybody but a central banker that after the beaten gold has taken since April that it needs more than one try to punch through stout resistance like $1,325. This is the second try. Maybe this time.
Personally, until gainsaid by the price, I am presuming that the 27 June low was THE GOLD PRICE low. May be a lot of frustrating backing and filling before us, but the worst lies behind.
Y'all know what an Amazon Prime subscription ($90 a year) buys you? Free video streaming of over 14,000 films nobody wants to see. Whoops -- you have to RENT the ones you actually WANT to see.
My wife does this stuff behind my back, because I won't use Amazon if I can avoid it. Otherwise one of these days they'll gobble up even Wal-Mart. They'll be the only people on the planet selling anything.
Speaking of movies, the most prophetic movie I have ever seen about where America is headed is Idiocracy. It's crude, it's obscene, it's scatological, it's stupid, and it's right where America is headed. In the world of the future, the American president is a professional wrestler. It's hilarious, but don't watch it with your kids. You may even want to ask your wife to leave the room. Shoot, you may want to leave the room yourself.
And, speaking of Idiocracy, the Federal Reserve Open Market Committee issued a statement today. As I expected, in the teeth of all the Wise and Mighty Pundits of the Media, they said nothing about tapering and asserted again their right and intention to keep right on buying bonds till they bust. Markets weren't sure whether to like that or not. Bonds rose a little, stocks fell a little, gold was faked with a cosmetic Comex close but rose in the aftermarket, and pork bellies are still bacon.
It's funny, but the chart for the Dow, the S&P500, and the euro all look the same: sharp uptrend, break in the uptrend by trading sideways through the line, but no downside follow-through. Looks highly unstable, floating there, just waiting to drop. But what do I know? Shoot, I'm crazy as a Betsy bug, even believe that a country can't inflate its way to prosperity and that gravity still works.
Onward to markets. Dow lost 21.05 (0.14%) to 15,499.54. Tried to rise early in the day, plopped down sharply, tried to rise again, but just had no juice or conviction. S&P lost 0.23 (0.1%) to 1,685.73. Other indices rose, so there's confusion in stocks. I reckon those buyers get their feelings hurt when stocks don't make new highs day after day.
Price I report to y'all for the Dow in Gold and Dow in Silver is the Dow close divided by the Comex close. On days when the metals aftermarket is much higher or lower, dividing by the aftermarket rather than the Comex close yields different results. So today if you took those end of the day prices, the Dow in metals would be lower. But let's take the usual method.
Dow in Gold rose 0.75% to 11.81 oz (G$244.14 gold dollars) while the Dow in Silver rose a smidgen, 0.11%, to 790.11 oz. Both have broken down out of triangles and turned down, unless they rise above existing trends.
US Dollar index rose early in the day above 82, anticipating good news from the FOMC Idiocrats, but it was disappointed in the outcome. After the announcement it sank to 81.407, but has since managed to climb back over crucial 81.50 support (and the 200 DMA. If the dollar index closes below that, it will drop to 80.75.
Euro dropped sharply earlier in the day then rose 0.29% from yesterday to end at $1.3302. Days of its rally are numbered. Yen rose 0.17% to 102.17 cents/Y100, trending up.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Wednesday, July 31, 2013
Tuesday, July 30, 2013
Gold Price Closed at $1,324.00 Down $4.40
Gold Price Close Today : 1324.00
Change : -4.40 or -0.33%
Silver Price Close Today : 19.68
Change : -0.18 or -0.93%
Gold Silver Ratio Today : 67.28
Change : 0.40 or 0.60%
Franklin didn't publish commentary today, if he publishes later it will be available here.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Change : -4.40 or -0.33%
Silver Price Close Today : 19.68
Change : -0.18 or -0.93%
Gold Silver Ratio Today : 67.28
Change : 0.40 or 0.60%
Franklin didn't publish commentary today, if he publishes later it will be available here.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Monday, July 29, 2013
Silver and Gold Prices Rose — Gold Price Stands Above it's 20 and 50 Day Moving Averages at $1,328.40
Gold Price Close Today : 1328.40
Change : 6.90 or 0.52%
Silver Price Close Today : 19.854
Change : 0.089 or 0.45%
Gold Silver Ratio Today : 66.908
Change : 0.048 or 0.07%
Silver Gold Ratio Today : 0.01495
Change : -0.000011 or -0.07%
Platinum Price Close Today : 1441.80
Change : 19.90 or 1.40%
Palladium Price Close Today : 743.75
Change : 20.65 or 2.86%
S&P 500 : 1,685.33
Change : -6.32 or -0.37%
Dow In GOLD$ : $241.54
Change : $ (1.83) or -0.75%
Dow in GOLD oz : 11.685
Change : -0.089 or -0.75%
Dow in SILVER oz : 781.81
Change : -5.38 or -0.68%
Dow Industrial : 15,522.00
Change : -36.68 or -0.24%
US Dollar Index : 81.654
Change : 0.079 or 0.10%
Silver and GOLD PRICES seem awfully subdued. Gold rose $6.90 (0.52%) to $1,328.40 while silver rose 8.9% (0.45%) to 1985.40. Those closes are actually lower than silver and gold were trading in Friday's aftermarket.
Over the last 5 trading days gold has traded out into a long narrow triangle with the apex on $1,325. Even-sided triangles can break out either way, so that offers us no forecast. Gold remains trapped below its short term downtrend line stretching back to early May (today about $1,330), even though it has conquered the downtrend line from the April highs. Since gold's failures last week came at that $1,350 level, that's where we fix our eyes and that's the number gold must beat to maintain the rally that began off the June low. Gold stands above its 20 day moving average ($1,284.58) and barely above its 50 DMA $1,327.35, so momentum points the right way.
The SILVER PRICE made a high today at 2015.5c, but can't hold on above 2000c. That's the mark to beat right now, then 2050c.
Silver still hasn't beaten its 50 DMA (2078c) Oh, it has a little uptrend running from the June low, but it's no more than slow and grinding.
Summer trading in the metals often doesn't amount to much (2011 excepted). It's also hard for me to expect much for silver and GOLD PRICES from the FOMC meeting. The metals' reaction to those things have been so illogical the past few months, I begin to incubate the suspicion that the Nice Government Men just smack silver and gold every time the Fed makes any announcement, just for good measure to punish silver and gold investors. All the same, I believe we have already seen the lows.
O'Bama said a couple of months ago that Bernanke had stayed on at the Fed longer than he wanted to, so folks have understood Ben was on his way out. He probably has enough sense to want to escape like Greenspan did, before his experiments blow up. Let his successor take the blame. Names presently noised abroad are Larry Summers and Janet Yellen.
It's getting easier every day to leave this world. I read an article, "World's first test tube burger to be served in London this week." I don't want to live in a world without cattle, and that ain't meat. Soylent green, anyone?
Markets are holding their breath before the Federal Open Market's announcement on Wednesday, although few are betting that the Fed will make any big changes. This offers yet another example that the entire world is loony, but then, I reckon that's what happens when you put banks in the driver's seat of every government in the world.
Stocks are demonstrating their fearful addiction to more inflation, fading as they wait for word from the Pusher-Man. Dow lost 36.86 (0.24%) to end the day at 15,521.97. S&P500 didn't do quite that well, falling 6.32 (0.37%) to 1,685.33.
With stocks falling today and silver and gold rising, the Dow in Gold and Dow in Silver both fell. Dow in Gold dropped 0.75% to 11,685 oz (G$241.54 gold dollars). Dow in silver backed down 5.38 oz (0.68%) to 781.81 oz. Both indicators have rolled over and are pointing downward, whispering that silver and gold are about to gain value on stocks.
US dollar index is trading at 81.654, up an puny 7.9 basis points -- puny, but maybe not insignificant. Since Thursday the Dollar index ahs traced out a rounding bottom with a low at 81.50. That low falls so nigh the 200 DMA at 81.48 that it might have market the low for this move. Wednesday will tell.
The ECB and the Bank of England both meet this week as well as the FOMC. They're all like cockroaches: it's not what the carry off and steal, it's what they fall into and foul up. Anyway, the euro barely moved today, down 0.11% to $1.3264. Bumping against its uptrend line, and as extended as it's rally has been, it's liable to tank on any good news for the dollar.
Yen alone showed life today. It leapt 0.43% to 102.21 cents/Y100. Friday it gapped away from its 50 DMA and is rallying.
In 1995 Summers, a longtime apparatchik of the Elite, was appointed Deputy Treasury Secretary under hatchetman Robert Rubin. In 1999 he succeeded Rubin. Those of us convinced that the US government manipulates the gold price mostly assume Summers was the author of the gold price suppression scheme, probably to keep interest rates low for other purposes. He also actively supported repealing Glass-Steagall, which repeal removed all brakes on the big banks and their speculation, helping pave the road for the 2008 financial crisis which remaineth with us. After blessing the US with his services, Summers moved on to bless Harvard as its president, but ran afoul of the feminists and resigned in 2007.
As if Summers weren't enough to blanch a nightmare, the other alternative, Janet Yellen, is worse. Well, wait, I'm not sure that when both choices are this wretched that you can rank one as worse. Anyway, she makes John Law look hawkish on inflation.
So y'all cheer up! There is somebody worse than Bernanke, and you're liable to get him/her/it.
Tomorrow I'll be wrapping up my monthly Moneychanger newsletter for my paid subscribers, so I won't publish a commentary. I'll return Wednesday, God willing.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.
Change : 6.90 or 0.52%
Silver Price Close Today : 19.854
Change : 0.089 or 0.45%
Gold Silver Ratio Today : 66.908
Change : 0.048 or 0.07%
Silver Gold Ratio Today : 0.01495
Change : -0.000011 or -0.07%
Platinum Price Close Today : 1441.80
Change : 19.90 or 1.40%
Palladium Price Close Today : 743.75
Change : 20.65 or 2.86%
S&P 500 : 1,685.33
Change : -6.32 or -0.37%
Dow In GOLD$ : $241.54
Change : $ (1.83) or -0.75%
Dow in GOLD oz : 11.685
Change : -0.089 or -0.75%
Dow in SILVER oz : 781.81
Change : -5.38 or -0.68%
Dow Industrial : 15,522.00
Change : -36.68 or -0.24%
US Dollar Index : 81.654
Change : 0.079 or 0.10%
Silver and GOLD PRICES seem awfully subdued. Gold rose $6.90 (0.52%) to $1,328.40 while silver rose 8.9% (0.45%) to 1985.40. Those closes are actually lower than silver and gold were trading in Friday's aftermarket.
Over the last 5 trading days gold has traded out into a long narrow triangle with the apex on $1,325. Even-sided triangles can break out either way, so that offers us no forecast. Gold remains trapped below its short term downtrend line stretching back to early May (today about $1,330), even though it has conquered the downtrend line from the April highs. Since gold's failures last week came at that $1,350 level, that's where we fix our eyes and that's the number gold must beat to maintain the rally that began off the June low. Gold stands above its 20 day moving average ($1,284.58) and barely above its 50 DMA $1,327.35, so momentum points the right way.
The SILVER PRICE made a high today at 2015.5c, but can't hold on above 2000c. That's the mark to beat right now, then 2050c.
Silver still hasn't beaten its 50 DMA (2078c) Oh, it has a little uptrend running from the June low, but it's no more than slow and grinding.
Summer trading in the metals often doesn't amount to much (2011 excepted). It's also hard for me to expect much for silver and GOLD PRICES from the FOMC meeting. The metals' reaction to those things have been so illogical the past few months, I begin to incubate the suspicion that the Nice Government Men just smack silver and gold every time the Fed makes any announcement, just for good measure to punish silver and gold investors. All the same, I believe we have already seen the lows.
O'Bama said a couple of months ago that Bernanke had stayed on at the Fed longer than he wanted to, so folks have understood Ben was on his way out. He probably has enough sense to want to escape like Greenspan did, before his experiments blow up. Let his successor take the blame. Names presently noised abroad are Larry Summers and Janet Yellen.
It's getting easier every day to leave this world. I read an article, "World's first test tube burger to be served in London this week." I don't want to live in a world without cattle, and that ain't meat. Soylent green, anyone?
Markets are holding their breath before the Federal Open Market's announcement on Wednesday, although few are betting that the Fed will make any big changes. This offers yet another example that the entire world is loony, but then, I reckon that's what happens when you put banks in the driver's seat of every government in the world.
Stocks are demonstrating their fearful addiction to more inflation, fading as they wait for word from the Pusher-Man. Dow lost 36.86 (0.24%) to end the day at 15,521.97. S&P500 didn't do quite that well, falling 6.32 (0.37%) to 1,685.33.
With stocks falling today and silver and gold rising, the Dow in Gold and Dow in Silver both fell. Dow in Gold dropped 0.75% to 11,685 oz (G$241.54 gold dollars). Dow in silver backed down 5.38 oz (0.68%) to 781.81 oz. Both indicators have rolled over and are pointing downward, whispering that silver and gold are about to gain value on stocks.
US dollar index is trading at 81.654, up an puny 7.9 basis points -- puny, but maybe not insignificant. Since Thursday the Dollar index ahs traced out a rounding bottom with a low at 81.50. That low falls so nigh the 200 DMA at 81.48 that it might have market the low for this move. Wednesday will tell.
The ECB and the Bank of England both meet this week as well as the FOMC. They're all like cockroaches: it's not what the carry off and steal, it's what they fall into and foul up. Anyway, the euro barely moved today, down 0.11% to $1.3264. Bumping against its uptrend line, and as extended as it's rally has been, it's liable to tank on any good news for the dollar.
Yen alone showed life today. It leapt 0.43% to 102.21 cents/Y100. Friday it gapped away from its 50 DMA and is rallying.
In 1995 Summers, a longtime apparatchik of the Elite, was appointed Deputy Treasury Secretary under hatchetman Robert Rubin. In 1999 he succeeded Rubin. Those of us convinced that the US government manipulates the gold price mostly assume Summers was the author of the gold price suppression scheme, probably to keep interest rates low for other purposes. He also actively supported repealing Glass-Steagall, which repeal removed all brakes on the big banks and their speculation, helping pave the road for the 2008 financial crisis which remaineth with us. After blessing the US with his services, Summers moved on to bless Harvard as its president, but ran afoul of the feminists and resigned in 2007.
As if Summers weren't enough to blanch a nightmare, the other alternative, Janet Yellen, is worse. Well, wait, I'm not sure that when both choices are this wretched that you can rank one as worse. Anyway, she makes John Law look hawkish on inflation.
So y'all cheer up! There is somebody worse than Bernanke, and you're liable to get him/her/it.
Tomorrow I'll be wrapping up my monthly Moneychanger newsletter for my paid subscribers, so I won't publish a commentary. I'll return Wednesday, God willing.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Friday, July 26, 2013
Silver and Gold Prices Rose this Week — Gold Price Up 2.2% Closing at $1,321.50
Gold Price Close Today : 1,321.50
Gold Price Close 19-Jul-13 : 1,293.30
Change : 28.20 or 2.2%
Silver Price Close Today : 19.765
Silver Price Close 19-Jul-13 : 19.448
Change : 31.70 or 1.6%
Gold Silver Ratio Today : 66.861
Gold Silver Ratio 19-Jul-13 : 66.500
Change : 0.36 or 0.5%
Silver Gold Ratio : 0.01496
Silver Gold Ratio 19-Jul-13 : 0.01504
Change : -0.00008 or -0.5%
Dow in Gold Dollars : $ 243.38
Dow in Gold Dollars 19-Jul-13 : $ 248.45
Change : -$5.07 or -2.0%
Dow in Gold Ounces : 11.774
Dow in Gold Ounces 19-Jul-13 : 12.019
Change : -0.25 or -2.0%
Dow in Silver Ounces : 787.19
Dow in Silver Ounces 19-Jul-13 : 799.25
Change : -12.06 or -1.5%
Dow Industrial : 15,558.83
Dow Industrial 19-Jul-13 : 15,543.74
Change : 15.09 or 0.1%
S&P 500 : 1,691.65
S&P 500 19-Jul-13 : 1,692.09
Change : -0.44 or 0.0%
US Dollar Index : 81.633
US Dollar Index 19-Jul-13 : 82.621
Change : -0.988 or -1.2%
Platinum Price Close Today : 1,421.90
Platinum Price Close 19-Jul-13 : 1,429.70
Change : -7.80 or -0.5%
Palladium Price Close Today : 723.10
Palladium Price Close 19-Jul-13 : 748.65
Change : -25.55 or -3.4%
Silver and GOLD PRICES rose this week. The gold price up 2.2%, silver only rose 1.6%. Silver was keeping pace with gold early in the week, but was smashed later. Silver ended today down 38.2 cents (1.9%0 at 1976.5c and gold down $7.30 (0.5%) at $1,321.50.
The gold price popped up to $1,338.70 overnight and silver price to 2029c, but were steadily attacked after midnight New York time, sliding down little by little. A little after 10:00 New York time, "somebody" smacked silver and gold with a baseball bat to the head. Silver dropped from 1995c down to 1975.1c, gold from $1,326 to $1,320.
Yet in the aftermarket gold has jumped up $12 to $1,333.20 and silver 30 cents to 2005c.
What's the real issue, the real hurdle? The GOLD PRICE must close over $1,350 to hint that the long correction since August 2011 has ended. Silver needs to climb above 2300c. In the short term, a fortnight and a month, both metals have upward momentum, but they must break through those barriers.
BOTTOM LINE: SILVER and gold bull markets remain intact, but it's too early to call the June price lows THE bottom. Looks now as if they were, but that must be confirmed by higher prices. Future for silver and gold is huge and higher, but for the US economy rotten. Bernanke has blown a bond bubble and the US government is in the first stages of a sovereign debt crisis. That will all drag down the economy and the dollar drastically. Y'all don't want to be under them when they fall.
Although silver and gold prices worked higher and gold broke through $1,300 resistance, the week disappointed a tad. But then, after the beating gold and silver took this spring, we ought to expect hardship getting through every resistance level.
Stocks (Dow but not the S&P500) hit a new high by a gnat's eyebrow, then eroded. Both just hung in the air, unable to rise or fall.
US dollar index had its worst week in quite a while. Platinum and Palladium gainsaid silver and gold.
That dollar index broke support at 82, so it will drop lower still. First target is the 200 day moving average at 81.47, second is support about 80.75. Apparently not everybody in the world believes yet that Bernanke can issue limitless amounts of new currency without eroding the dollar's value. What about interest rates? The 10 year treasury note yield had dropped from the first or July, but last week hit a low and this week began climbing again. Ended at 2.561%, above the 20 DMA. I suspect this rising interest rate (since May) is the first robin of the bond bubble's bursting.
For now I am expecting the dollar to turn around either at the 200 DMA or 81-ish support, thence to rally again. However, it if breaches 81.75, then trouble will erupt.
Euro went flat today at $1.3275, down 0.02%. However, it abideth in an uptrend since 9 July.
Yen at last made up its mind this week. Broke out upwards from an even-sided triangle, and jumped up 1.06% today to 101.81 cents/Y100. Headed higher, until the Japanese Nice Government Men smack it again. Why anybody in his right mind would buy or own yen when the whole strategy of the prime minister is to GUT the yen is a mystery too deep for my shallow ken.
We passed a great milestone this week: the Dow in gold and Dow in silver broke down, confirming their broadening top was indeed a top. This gains more significance because the Dow hit a new high on Tuesday, the S&P500 on Monday, while the Dow measured in metals fell.
Today the Dow spent most of its day underwater, but cosmetically climbed 3.22 points (0.22%) above yesterday's close right at day's end. S&P500 rose 1.4 (0.08%) to 1,691.65. 'Pears ready to correct next week.
Today the Dow in gold rose 0.6% to 11.774 oz (G$243.38 gold dollars). Dow in silver acted poorly, with a close back above the 780.17 oz. 20 DMA. That was 787.19 oz, up 2%. Only that Dow in Silver leaves me the least bit queasy.
In a rare burst of truthfulness for the world we live in, Former IMF chief Dominique Strauss-Kahn will face trial on pimping charges over an alleged prostitution ring in the French city of Lille. I reckon all those things we keep thinking about central bankers aren't really metaphorical after all -- they're literal.
To prove that the world is not full of evil dolts, listen to what happened to me. As we were getting ready to fly out of Reno last week, I discovered I had lost my driver's license. Never mind the humiliation of the full pat down treatment I had to suffer to catch my plane. I came home and tried to order a replacement, but after the Tennessee Dept. of Safety website thwarted me and I held for 20 minutes waiting on the "Help" line, I gave up. My tolerance for government "efficiency" is, to put it minimally, right low.
Then today I got a letter from the Lost and Found at the Las Vegas Airport, through which we had flown on our way out to Reno. Within was found -- that's right -- my driver's license. Some kind and good-hearted person had picked up my license and turned it in to Lost and Found at the Las Vegas Airport. They, acting out of outstanding courtesy, mailed it to me. That kindness made my week.
Y'all enjoy your weekend!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Gold Price Close 19-Jul-13 : 1,293.30
Change : 28.20 or 2.2%
Silver Price Close Today : 19.765
Silver Price Close 19-Jul-13 : 19.448
Change : 31.70 or 1.6%
Gold Silver Ratio Today : 66.861
Gold Silver Ratio 19-Jul-13 : 66.500
Change : 0.36 or 0.5%
Silver Gold Ratio : 0.01496
Silver Gold Ratio 19-Jul-13 : 0.01504
Change : -0.00008 or -0.5%
Dow in Gold Dollars : $ 243.38
Dow in Gold Dollars 19-Jul-13 : $ 248.45
Change : -$5.07 or -2.0%
Dow in Gold Ounces : 11.774
Dow in Gold Ounces 19-Jul-13 : 12.019
Change : -0.25 or -2.0%
Dow in Silver Ounces : 787.19
Dow in Silver Ounces 19-Jul-13 : 799.25
Change : -12.06 or -1.5%
Dow Industrial : 15,558.83
Dow Industrial 19-Jul-13 : 15,543.74
Change : 15.09 or 0.1%
S&P 500 : 1,691.65
S&P 500 19-Jul-13 : 1,692.09
Change : -0.44 or 0.0%
US Dollar Index : 81.633
US Dollar Index 19-Jul-13 : 82.621
Change : -0.988 or -1.2%
Platinum Price Close Today : 1,421.90
Platinum Price Close 19-Jul-13 : 1,429.70
Change : -7.80 or -0.5%
Palladium Price Close Today : 723.10
Palladium Price Close 19-Jul-13 : 748.65
Change : -25.55 or -3.4%
Silver and GOLD PRICES rose this week. The gold price up 2.2%, silver only rose 1.6%. Silver was keeping pace with gold early in the week, but was smashed later. Silver ended today down 38.2 cents (1.9%0 at 1976.5c and gold down $7.30 (0.5%) at $1,321.50.
The gold price popped up to $1,338.70 overnight and silver price to 2029c, but were steadily attacked after midnight New York time, sliding down little by little. A little after 10:00 New York time, "somebody" smacked silver and gold with a baseball bat to the head. Silver dropped from 1995c down to 1975.1c, gold from $1,326 to $1,320.
Yet in the aftermarket gold has jumped up $12 to $1,333.20 and silver 30 cents to 2005c.
What's the real issue, the real hurdle? The GOLD PRICE must close over $1,350 to hint that the long correction since August 2011 has ended. Silver needs to climb above 2300c. In the short term, a fortnight and a month, both metals have upward momentum, but they must break through those barriers.
BOTTOM LINE: SILVER and gold bull markets remain intact, but it's too early to call the June price lows THE bottom. Looks now as if they were, but that must be confirmed by higher prices. Future for silver and gold is huge and higher, but for the US economy rotten. Bernanke has blown a bond bubble and the US government is in the first stages of a sovereign debt crisis. That will all drag down the economy and the dollar drastically. Y'all don't want to be under them when they fall.
Although silver and gold prices worked higher and gold broke through $1,300 resistance, the week disappointed a tad. But then, after the beating gold and silver took this spring, we ought to expect hardship getting through every resistance level.
Stocks (Dow but not the S&P500) hit a new high by a gnat's eyebrow, then eroded. Both just hung in the air, unable to rise or fall.
US dollar index had its worst week in quite a while. Platinum and Palladium gainsaid silver and gold.
That dollar index broke support at 82, so it will drop lower still. First target is the 200 day moving average at 81.47, second is support about 80.75. Apparently not everybody in the world believes yet that Bernanke can issue limitless amounts of new currency without eroding the dollar's value. What about interest rates? The 10 year treasury note yield had dropped from the first or July, but last week hit a low and this week began climbing again. Ended at 2.561%, above the 20 DMA. I suspect this rising interest rate (since May) is the first robin of the bond bubble's bursting.
For now I am expecting the dollar to turn around either at the 200 DMA or 81-ish support, thence to rally again. However, it if breaches 81.75, then trouble will erupt.
Euro went flat today at $1.3275, down 0.02%. However, it abideth in an uptrend since 9 July.
Yen at last made up its mind this week. Broke out upwards from an even-sided triangle, and jumped up 1.06% today to 101.81 cents/Y100. Headed higher, until the Japanese Nice Government Men smack it again. Why anybody in his right mind would buy or own yen when the whole strategy of the prime minister is to GUT the yen is a mystery too deep for my shallow ken.
We passed a great milestone this week: the Dow in gold and Dow in silver broke down, confirming their broadening top was indeed a top. This gains more significance because the Dow hit a new high on Tuesday, the S&P500 on Monday, while the Dow measured in metals fell.
Today the Dow spent most of its day underwater, but cosmetically climbed 3.22 points (0.22%) above yesterday's close right at day's end. S&P500 rose 1.4 (0.08%) to 1,691.65. 'Pears ready to correct next week.
Today the Dow in gold rose 0.6% to 11.774 oz (G$243.38 gold dollars). Dow in silver acted poorly, with a close back above the 780.17 oz. 20 DMA. That was 787.19 oz, up 2%. Only that Dow in Silver leaves me the least bit queasy.
In a rare burst of truthfulness for the world we live in, Former IMF chief Dominique Strauss-Kahn will face trial on pimping charges over an alleged prostitution ring in the French city of Lille. I reckon all those things we keep thinking about central bankers aren't really metaphorical after all -- they're literal.
To prove that the world is not full of evil dolts, listen to what happened to me. As we were getting ready to fly out of Reno last week, I discovered I had lost my driver's license. Never mind the humiliation of the full pat down treatment I had to suffer to catch my plane. I came home and tried to order a replacement, but after the Tennessee Dept. of Safety website thwarted me and I held for 20 minutes waiting on the "Help" line, I gave up. My tolerance for government "efficiency" is, to put it minimally, right low.
Then today I got a letter from the Lost and Found at the Las Vegas Airport, through which we had flown on our way out to Reno. Within was found -- that's right -- my driver's license. Some kind and good-hearted person had picked up my license and turned it in to Lost and Found at the Las Vegas Airport. They, acting out of outstanding courtesy, mailed it to me. That kindness made my week.
Y'all enjoy your weekend!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.
Thursday, July 25, 2013
Silver and Gold Prices Bounced Back Today Higher Close Tomorrow Confirms Rally
Gold Price Close Today : 1328.80
Change : 9.30 or 0.70%
Silver Price Close Today : 20.147
Change : 0.133 or 0.66%
Gold Silver Ratio Today : 65.955
Change : 0.026 or 0.04%
Silver Gold Ratio Today : 0.01516
Change : -0.000006 or -0.04%
Platinum Price Close Today : 1447.00
Change : -8.20 or -0.56%
Palladium Price Close Today : 739.85
Change : -4.55 or -0.61%
S&P 500 : 1,690.25
Change : 4.31 or 0.26%
Dow In GOLD$ : $242.00
Change : $ (1.50) or -0.61%
Dow in GOLD oz : 11.707
Change : -0.072 or -0.61%
Dow in SILVER oz : 772.11
Change : -4.46 or -0.57%
Dow Industrial : 15,555.61
Change : 13.37 or 0.09%
US Dollar Index : 81.715
Change : 0.581 or 0.72%
Silver and GOLD PRICES bounced back today, but not until after dropping lower and fending off that attack. Silver gained 13.3 cents (0.7%) to close 2014.7 cents. The gold price gained 0.7%, too, or $9.30 to end at $1,328.80. But before coming back silver was driven as low at 1983.7c about 6:00 a.m. New York time. Gold was driven to $1,309.35. Both those lows were lower than yesterday's, but the metals ended higher. That would be the first half of a key reversal, with a break to a new low intraday followed by a higher close than the previous day. To complete the key reversal, both metals need to close higher tomorrow.
SILVER and gold prices remain broken out above their short term downtrend lines. Still, it ain't a rally unless it keeps on climbing, so they must gain again tomorrow. Be patient, be patient.
Thinking like everybody else can take you over a high cliff onto hard rocks below. It's not that the crowd is ALWAYS wrong, just wrong at the crucial turns. For the past few years under Bloviating Ben's zero interest rate policy people have flooded in to bonds -- "What else can you do?" Ben's goosing the money supply with a new $1 trillion bucks has lifted the Dow and S&P500 24% and 25% respectively since 15 November 2012. "What else can you do?"
Problem is that money that panics into a market also panics out of a market. What looks brilliant today looks stupidly lame tomorrow. When investors figure out that nothing economic is driving stocks, only inflation, they're liable to panic out of stocks as fast as they crowded in -- and to panic into silver and gold.
When you're dealing with human beings, logic does not play a big part.
US dollar index got hit upside the head with a brickbat. Crashed through support just beneath 82 and lost 58.1 basis points (0.75%) and came to rest at 81.715. Breaching support at 82.00 aims the dollar index at least for its 200 day moving average (81.46), but more likely next support at 80.75 - 81.00.
Euro took advantage of the dollar's headaches to rise 0.67% to $1.3288. Yen took an even bigger jump and closed above downtrend line -- and upside breakout. Jumped 1.18% to 100.97 cents per Y100.
Stocks spent most of the day underwater before they rose enough to save face. Dow rose 13.37 (0.09%) to 15,555.61. S&P500 inched up 4.31 or 02.6% to 1,690.25. Both pierced their rising trend lines yesterday. Even with today's little rise, S&P500 closed below that uptrend line. Any follow-through downward tomorrow will clinch a downward reversal.
Against the precious metals stocks slipped today 0.61% -- yes, against both gold and silver. Gold ended at 11.707 oz (G$242.00 in gold dollars). Silver dropped 4.46 oz to 772.11 ounces. Once again, both broke down on Monday out of triangles, and now have spent 4 days below those triangles. Implies that stocks are about to become much cheaper in terms of the silver and gold price.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.
Change : 9.30 or 0.70%
Silver Price Close Today : 20.147
Change : 0.133 or 0.66%
Gold Silver Ratio Today : 65.955
Change : 0.026 or 0.04%
Silver Gold Ratio Today : 0.01516
Change : -0.000006 or -0.04%
Platinum Price Close Today : 1447.00
Change : -8.20 or -0.56%
Palladium Price Close Today : 739.85
Change : -4.55 or -0.61%
S&P 500 : 1,690.25
Change : 4.31 or 0.26%
Dow In GOLD$ : $242.00
Change : $ (1.50) or -0.61%
Dow in GOLD oz : 11.707
Change : -0.072 or -0.61%
Dow in SILVER oz : 772.11
Change : -4.46 or -0.57%
Dow Industrial : 15,555.61
Change : 13.37 or 0.09%
US Dollar Index : 81.715
Change : 0.581 or 0.72%
Silver and GOLD PRICES bounced back today, but not until after dropping lower and fending off that attack. Silver gained 13.3 cents (0.7%) to close 2014.7 cents. The gold price gained 0.7%, too, or $9.30 to end at $1,328.80. But before coming back silver was driven as low at 1983.7c about 6:00 a.m. New York time. Gold was driven to $1,309.35. Both those lows were lower than yesterday's, but the metals ended higher. That would be the first half of a key reversal, with a break to a new low intraday followed by a higher close than the previous day. To complete the key reversal, both metals need to close higher tomorrow.
SILVER and gold prices remain broken out above their short term downtrend lines. Still, it ain't a rally unless it keeps on climbing, so they must gain again tomorrow. Be patient, be patient.
Thinking like everybody else can take you over a high cliff onto hard rocks below. It's not that the crowd is ALWAYS wrong, just wrong at the crucial turns. For the past few years under Bloviating Ben's zero interest rate policy people have flooded in to bonds -- "What else can you do?" Ben's goosing the money supply with a new $1 trillion bucks has lifted the Dow and S&P500 24% and 25% respectively since 15 November 2012. "What else can you do?"
Problem is that money that panics into a market also panics out of a market. What looks brilliant today looks stupidly lame tomorrow. When investors figure out that nothing economic is driving stocks, only inflation, they're liable to panic out of stocks as fast as they crowded in -- and to panic into silver and gold.
When you're dealing with human beings, logic does not play a big part.
US dollar index got hit upside the head with a brickbat. Crashed through support just beneath 82 and lost 58.1 basis points (0.75%) and came to rest at 81.715. Breaching support at 82.00 aims the dollar index at least for its 200 day moving average (81.46), but more likely next support at 80.75 - 81.00.
Euro took advantage of the dollar's headaches to rise 0.67% to $1.3288. Yen took an even bigger jump and closed above downtrend line -- and upside breakout. Jumped 1.18% to 100.97 cents per Y100.
Stocks spent most of the day underwater before they rose enough to save face. Dow rose 13.37 (0.09%) to 15,555.61. S&P500 inched up 4.31 or 02.6% to 1,690.25. Both pierced their rising trend lines yesterday. Even with today's little rise, S&P500 closed below that uptrend line. Any follow-through downward tomorrow will clinch a downward reversal.
Against the precious metals stocks slipped today 0.61% -- yes, against both gold and silver. Gold ended at 11.707 oz (G$242.00 in gold dollars). Silver dropped 4.46 oz to 772.11 ounces. Once again, both broke down on Monday out of triangles, and now have spent 4 days below those triangles. Implies that stocks are about to become much cheaper in terms of the silver and gold price.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Wednesday, July 24, 2013
Silver and Gold Prices Dropped with the Gold Price Closing at $1,319.50
Gold Price Close Today : 1319.90
Change : -15.20 or -1.14%
Silver Price Close Today : 20.014
Change : -0.232 or -1.15%
Gold Silver Ratio Today : 65.949
Change : 0.005 or 0.01%
Silver Gold Ratio Today : 0.01516
Change : -0.000001 or -0.01%
Platinum Price Close Today : 1455.20
Change : 13.10 or 0.91%
Palladium Price Close Today : 744.40
Change : 5.85 or 0.79%
S&P 500 : 1,675.02
Change : -6.45 or -0.38%
Dow In GOLD$ : $243.42
Change : $ 2.38 or 0.99%
Dow in GOLD oz : 11.775
Change : 0.115 or 0.99%
Dow in SILVER oz : 776.57
Change : 7.64 or 0.99%
Dow Industrial : 15,542.24
Change : -25.50 or -0.16%
US Dollar Index : 82.277
Change : 0.244 or 0.30%
Silver and GOLD PRICES lost 23.2 cents (1.15%) and $15.20 (1.14%) respectively today to close at 2001.4c and $1,319.90. So where's the chocolate icing? The SILVER PRICE low came at 2001.4. It held on above 2000c. Gold's low was $1,313.73. If another plunge is building, then gold will close below $1,295. I don't believe there will be any dallying -- either gold and silver will turn and keep advancing or they will fail quickly.
Stop whining and grumbling. We've seen the worst of it. Bwana Ben has had his day, but his voodoo won't work much longer. Meanwhile he has dug an elephant trap for himself. Candidly, I wish I didn't have to see the catastrophe of that bond bubble bursting.
In congress today the house narrowly defeated a bill to rein in the National Security Agency, 207-215. Politics makes strange bedfellows, with some Republicans and Democrats voting together against the NSA. The fascist Republicans and Democrats banded together, though, to defeat the bill, after waving the bloody shirt of national security all over the house. Folks, in case y'all aren't thinking, this surveillance has nothing to do with national security and everything to do with perfecting a totalitarian police state.
The US dollar index rose today 24.4 basis points (0.31%) to 82.277. That might be the game changer, sending the dollar back up, since it hit that 82 support today and bounced up. Yes, it might yet sink to 81, but ought to get a good bounce from here anyway, maybe to the 50 DMA (8288) or the 20 DMA (83.24). Yen remains trapped. Lost 0.85 today to 99.79 cents/Y100. Euro still hasn't broken its uptrend line. Closed $1.3200, down 0.18%.
In the teeth of a rising dollar today the 10 year Treasury Note yield rose 2.86% to 2.588%. Can you hear those tom-toms beating in the jungle, Bwana Ben? Bad juju, Bwana Ben, bad juju. And Tarzan ain't coming.
Rising dollar didn't aid stocks any, either. Dow today lost 25.5 (0.16%) to 15,542.24. S&P500 lost 0.38% or 6.45 to 1,685.94. Today's break took both indices to their downtrend lines, and took the S&P500 through it. Even though I still expect higher prices before the top, this looks like a break for a correction.
Both the Dow in Gold and Dow in silver rose again today, reaching for a touchback to the breakdown point. Both rose 1%, the DiG ending at 11.775 oz (G$243.42 gold dollars) and 776.57 oz.
Clearly my optimism had hold of me yesterday shaking me like a terrier shaking a rat. Alas, 'twas not to be, but even in defeat there was chocolate icing (I'm not sure those two metaphors mix).
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.
Change : -15.20 or -1.14%
Silver Price Close Today : 20.014
Change : -0.232 or -1.15%
Gold Silver Ratio Today : 65.949
Change : 0.005 or 0.01%
Silver Gold Ratio Today : 0.01516
Change : -0.000001 or -0.01%
Platinum Price Close Today : 1455.20
Change : 13.10 or 0.91%
Palladium Price Close Today : 744.40
Change : 5.85 or 0.79%
S&P 500 : 1,675.02
Change : -6.45 or -0.38%
Dow In GOLD$ : $243.42
Change : $ 2.38 or 0.99%
Dow in GOLD oz : 11.775
Change : 0.115 or 0.99%
Dow in SILVER oz : 776.57
Change : 7.64 or 0.99%
Dow Industrial : 15,542.24
Change : -25.50 or -0.16%
US Dollar Index : 82.277
Change : 0.244 or 0.30%
Silver and GOLD PRICES lost 23.2 cents (1.15%) and $15.20 (1.14%) respectively today to close at 2001.4c and $1,319.90. So where's the chocolate icing? The SILVER PRICE low came at 2001.4. It held on above 2000c. Gold's low was $1,313.73. If another plunge is building, then gold will close below $1,295. I don't believe there will be any dallying -- either gold and silver will turn and keep advancing or they will fail quickly.
Stop whining and grumbling. We've seen the worst of it. Bwana Ben has had his day, but his voodoo won't work much longer. Meanwhile he has dug an elephant trap for himself. Candidly, I wish I didn't have to see the catastrophe of that bond bubble bursting.
In congress today the house narrowly defeated a bill to rein in the National Security Agency, 207-215. Politics makes strange bedfellows, with some Republicans and Democrats voting together against the NSA. The fascist Republicans and Democrats banded together, though, to defeat the bill, after waving the bloody shirt of national security all over the house. Folks, in case y'all aren't thinking, this surveillance has nothing to do with national security and everything to do with perfecting a totalitarian police state.
The US dollar index rose today 24.4 basis points (0.31%) to 82.277. That might be the game changer, sending the dollar back up, since it hit that 82 support today and bounced up. Yes, it might yet sink to 81, but ought to get a good bounce from here anyway, maybe to the 50 DMA (8288) or the 20 DMA (83.24). Yen remains trapped. Lost 0.85 today to 99.79 cents/Y100. Euro still hasn't broken its uptrend line. Closed $1.3200, down 0.18%.
In the teeth of a rising dollar today the 10 year Treasury Note yield rose 2.86% to 2.588%. Can you hear those tom-toms beating in the jungle, Bwana Ben? Bad juju, Bwana Ben, bad juju. And Tarzan ain't coming.
Rising dollar didn't aid stocks any, either. Dow today lost 25.5 (0.16%) to 15,542.24. S&P500 lost 0.38% or 6.45 to 1,685.94. Today's break took both indices to their downtrend lines, and took the S&P500 through it. Even though I still expect higher prices before the top, this looks like a break for a correction.
Both the Dow in Gold and Dow in silver rose again today, reaching for a touchback to the breakdown point. Both rose 1%, the DiG ending at 11.775 oz (G$243.42 gold dollars) and 776.57 oz.
Clearly my optimism had hold of me yesterday shaking me like a terrier shaking a rat. Alas, 'twas not to be, but even in defeat there was chocolate icing (I'm not sure those two metaphors mix).
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Tuesday, July 23, 2013
Silver and Gold Prices Closed Lower Gold Price Lost $1.30 to Close at $1,335.10
Gold Price Close Today : 1335.10
Change : -1.30 or -0.10%
Silver Price Close Today : 20.246
Change : -0.252 or -1.23%
Gold Silver Ratio Today : 65.944
Change : 0.747 or 1.15%
Silver Gold Ratio Today : 0.01516
Change : -0.000174 or -1.13%
Platinum Price Close Today : 1442.10
Change : -4.90 or -0.34%
Palladium Price Close Today : 738.55
Change : -11.00 or -1.47%
S&P 500 : 1,692.39
Change : -3.14 or -0.19%
Dow In GOLD$ : $241.04
Change : $ 0.58 or 0.24%
Dow in GOLD oz : 11.660
Change : 0.028 or 0.24%
Dow in SILVER oz : 768.93
Change : 10.54 or 1.39%
Dow Industrial : 15,567.74
Change : 22.19 or 0.14%
US Dollar Index : 82.053
Change : -0.163 or -0.20%
After yesterday's big leaps the silver and GOLD PRICES backed off for a breather today — well, at the cosmetic Comex close, but not in the aftermarket. It was surprisingly peppy after Comex closed.
The gold price lost $1.30 to end at $1,335.10 and silver gave back 25.2 cents to 2024.6c.
But after the Comex closed, silver and GOLD PRICES shot up, silver as high at 2051 and gold up to $1,348. They've since settled back a little, but this tugging at higher prices in the aftermarket feels like a very strong market. Gold remains above its 50 DMA ($1,333.40) and 20 DMA, and can only be expected to rise for a while. Same holds true for the SILVER PRICE. Whether they can make good this breakouts to found a lasting rally, or whether they fail higher, gold has the potential to run to $1,550 from here, silver to 2300c — fast, once gold beats $1,350.
Whether the ultimate price low for silver and gold has been posted yet or not, the gold and silver markets are turning. Panic and defeat are behind us, rebuilding taking place. Be patient, keep buying.
Y'all will recall that the European sovereign debt crisis began with interest rates edging up on debt of Greece, Portugal, Spain, and Italy. Just a little at first, then a stampede. That was the lowest rated debt out there.
Chewing on that I see that municipal bonds, not exactly junk bonds, but at the lower end of the credit- worthiness scale, fell the fourth day in a row. Apparently rising rates and Detroit's biggest-in-history municipal bankruptcy ($18 billion) has investors nervous.
Y'all, when the bond bubble bursts, it will make the real estate bubble look like bubble gum.
Non-confirmation abounded in today's stock market. The Dow hit a new high, but the S&P500 didn't, yea, and the Nasdaq, Nasdaq-100, and Russell 2000 all fell, too. Folks, rapid-fire strings of new highs is NOT the recipe for longevity in a market. Rather, it warns of a red hot market topping.
Dow rose 22.19 (0.14%) to 15,567.74 but the S&P500 backed off 3.14 (0.19%) to 1,692.39. As I said yesterday, stocks look awfully double-toppy.
Dow in gold rose 0.24% to 11.66 oz (G$241.04) while Dow in silver added 10.54 oz (1.39%) to close 768.93 oz. This doesn't mend yesterday's breakdown, or reverse the firmly gravity-ward momentum.
US dollar fell plumb to 82 today. Low at 81.926 even broke 82. Trading right now at 82.053, down 16.3 basis points on the day. Euro jumped 0.3% to $1.3225, still trending up. Yen can't quite make up its mind to rise again. Closed 100.55c/Y100, up 0.166.
Here's how loony the world is. In Japan the electorate gave control of the upper house back to Abe's party. That's right -- to the party of the man who has promised to gut their currency. "Hit me again, Shinzo -- it feels so good!"
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.
Change : -1.30 or -0.10%
Silver Price Close Today : 20.246
Change : -0.252 or -1.23%
Gold Silver Ratio Today : 65.944
Change : 0.747 or 1.15%
Silver Gold Ratio Today : 0.01516
Change : -0.000174 or -1.13%
Platinum Price Close Today : 1442.10
Change : -4.90 or -0.34%
Palladium Price Close Today : 738.55
Change : -11.00 or -1.47%
S&P 500 : 1,692.39
Change : -3.14 or -0.19%
Dow In GOLD$ : $241.04
Change : $ 0.58 or 0.24%
Dow in GOLD oz : 11.660
Change : 0.028 or 0.24%
Dow in SILVER oz : 768.93
Change : 10.54 or 1.39%
Dow Industrial : 15,567.74
Change : 22.19 or 0.14%
US Dollar Index : 82.053
Change : -0.163 or -0.20%
After yesterday's big leaps the silver and GOLD PRICES backed off for a breather today — well, at the cosmetic Comex close, but not in the aftermarket. It was surprisingly peppy after Comex closed.
The gold price lost $1.30 to end at $1,335.10 and silver gave back 25.2 cents to 2024.6c.
But after the Comex closed, silver and GOLD PRICES shot up, silver as high at 2051 and gold up to $1,348. They've since settled back a little, but this tugging at higher prices in the aftermarket feels like a very strong market. Gold remains above its 50 DMA ($1,333.40) and 20 DMA, and can only be expected to rise for a while. Same holds true for the SILVER PRICE. Whether they can make good this breakouts to found a lasting rally, or whether they fail higher, gold has the potential to run to $1,550 from here, silver to 2300c — fast, once gold beats $1,350.
Whether the ultimate price low for silver and gold has been posted yet or not, the gold and silver markets are turning. Panic and defeat are behind us, rebuilding taking place. Be patient, keep buying.
Y'all will recall that the European sovereign debt crisis began with interest rates edging up on debt of Greece, Portugal, Spain, and Italy. Just a little at first, then a stampede. That was the lowest rated debt out there.
Chewing on that I see that municipal bonds, not exactly junk bonds, but at the lower end of the credit- worthiness scale, fell the fourth day in a row. Apparently rising rates and Detroit's biggest-in-history municipal bankruptcy ($18 billion) has investors nervous.
Y'all, when the bond bubble bursts, it will make the real estate bubble look like bubble gum.
Non-confirmation abounded in today's stock market. The Dow hit a new high, but the S&P500 didn't, yea, and the Nasdaq, Nasdaq-100, and Russell 2000 all fell, too. Folks, rapid-fire strings of new highs is NOT the recipe for longevity in a market. Rather, it warns of a red hot market topping.
Dow rose 22.19 (0.14%) to 15,567.74 but the S&P500 backed off 3.14 (0.19%) to 1,692.39. As I said yesterday, stocks look awfully double-toppy.
Dow in gold rose 0.24% to 11.66 oz (G$241.04) while Dow in silver added 10.54 oz (1.39%) to close 768.93 oz. This doesn't mend yesterday's breakdown, or reverse the firmly gravity-ward momentum.
US dollar fell plumb to 82 today. Low at 81.926 even broke 82. Trading right now at 82.053, down 16.3 basis points on the day. Euro jumped 0.3% to $1.3225, still trending up. Yen can't quite make up its mind to rise again. Closed 100.55c/Y100, up 0.166.
Here's how loony the world is. In Japan the electorate gave control of the upper house back to Abe's party. That's right -- to the party of the man who has promised to gut their currency. "Hit me again, Shinzo -- it feels so good!"
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Monday, July 22, 2013
Gold Price Burst Through $1,325 Resistance Gaining $43.10 to Close at $1,336.40
Gold Price Close Today : 1336.40
Change : 43.10 or 3.33%
Silver Price Close Today : 20.498
Change : 1.050 or 5.40%
Gold Silver Ratio Today : 65.197
Change : -1.304 or -1.96%
Silver Gold Ratio Today : 0.01534
Change : 0.000301 or 2.00%
Platinum Price Close Today : 1447.00
Change : 17.30 or 1.21%
Palladium Price Close Today : 749.55
Change : 0.90 or 0.12%
S&P 500 : 1,695.53
Change : 3.44 or 0.20%
Dow In GOLD$ : $240.46
Change : $ (7.98) or -3.21%
Dow in GOLD oz : 11.632
Change : -0.386 or -3.21%
Dow in SILVER oz : 758.39
Change : -40.85 or -5.11%
Dow Industrial : 15,545.55
Change : 1.81 or 0.01%
US Dollar Index : 82.220
Change : -0.237 or -0.29%
The GOLD PRICE gapped up $25 on the US open, from Friday's $1,293.30 close to today's $1,318.30 open. Whoa! Burst through $1,325 resistance and ran $43.10 (3.3%) before stopping at $1,336.40.
The SILVER PRICE gapped up, opening at 1990c. Once silver climbed above 2000 it must have hit thousands of open buy orders. Gained 105 cents (5.4%) for the day and closed at 2049.8c.
Encouraging as this is, put it into perspective. Gold fell off last time (June) at $1,350, and before that in April at $1,550. Sure, today's close takes gold above and outside both its trading channel and the downtrend line from the April plunge, and right at its 50 DMA ($1,335.70). All very constructive, but what next? Can the GOLD PRICE clear $1,350, then $1,425? Or is it just sucking us in before one last plunge?
Durned if I know, just like I can't yet be certain that the $1,179.40 low in June was THE low. Clearly the momentum leads upward (12 day rate of change is 6.59% today), but that rate of change has also reached the high where gold fell in May.
SILVER PRICE today punched above its downtrend line from April, closed above its 20 DMA, but remains below its 50 DMA (2109c). Silver needs to make good those batterings it has suffered since April. That means closing above 2133c (plunge in June) and 2350c.
Now the question of buying once again becomes "Which would you rather hold, dollars or metals?" Given the record, that's a pretty easy one.
The Detroit bankruptcy has given us a harbinger of future municipal and state bankruptcies: the pensioners get a 90% haircut. This is inevitable. Municipalities and states promised pensions based on projections of stock market gains from the 1990s and earning 6% on bonds, then hit a stock bear market and Bubble Ben's zero interest rate policy. Pensioners will sue and scream, but will be lucky indeed to get anything. Whoops -- for three years Detroit paid nothing at all into its retirement fund. Well, they just FORGOT, I reckon.
I don't want to spoil y'all's supper, but I really haven't been candid. I've been seeing the bond bubble Bernanke has built since 2008 and the sovereign debt crisis -- including the good ol' USA, where the admitted government debt without the hidden liabilities is 105% of gross domestic product. Because everyone who receives government money will fight like a banshee to keep it coming, and no politician will say no, short of a collapse or dictator, spending will never be cut, which means default is likewise inevitable because revenue falls so short of spending. Whether the default comes through an outright repudiation (the best but least likely solution) or it comes through a hyperinflation to inflate away the debt, default will come.
Either way, if you are in dollars, stocks, or bonds, your goose will be charbroiled. I dislike telling y'all this because I dislike disaster-mongers, but there it is. Sure, sure, everyone will tell you it's impossible the US would default, it's unthinkable the Fed would allow a hyperinflation, etc., etc. They cannot admit the truth because it implies such horrors, but the truth won't go away. Bernanke and the central banks of the world have already put the world onto that path.
So now it becomes a question, would you rather hold dollars/stocks/bonds facing default or hyperinflation, or gold and silver threatened by another decline -- maybe?
Big moves today, all 9 months pregnant with meaning. Stocks hit new highs today. S&P hit its fifth new high in seven days, third new high in three days. Dow has made three new highs in the last seven trading days. Folks, it just don't get that good.
There's more: in the teeth of new stock highs, the Dow in silver and Dow in gold broke down today, decisively, unarguably, probably irrecallably. The US dollar index fell through support at 82.50, closing at 82.20, down 23.7 basis points or 0.3%. Finally, silver and gold gapped up 3.3% and 5.4%, causing a run on Tums and Tagamet in the neighborhood around the Federal Reserve in Washington.
Looking more closely, the Dow closed up 1.81 at 15,545.55, which is as close to flat as you can get without actually being a skillet. S&P500 made another new high, rising 3.445 (0.2%) to 1,695.53.
I have been expecting stocks to move even higher than highs we've seen, but I looked at 5 month chart today and my poor old eyes could see nothing but an arresting double top. Now, that's merely where they sit now, and both could move higher, wrecking that double top formation --- but three new highs in three days, and 5 in 7? That's a mania, due for a whupping.
Meanwhile stocks measured in metals finally broke down out of that long topping formation, and in the teeth of stock strength.
Both the Dow in gold and Dow in silver had formed triangles, and both fell out of those triangles today. Dow in gold fell 3.21% to 11.632 oz (G$240.46 gold dollars, down nearly eight gold dollars). 50 day moving average awaits at 11.40 oz, and the DiG already fell below its 20 DMA (12.05 oz) on Friday.
Dow in silver plunged 40.85 oz (5.11%) today and ended at 758.49 oz, versus Friday's 799.25 oz. DiSoz smashed the 20 DMA (781.91) today, so next confirmation comes at the 50 DMA (724.03). Remember, we want to see the DiSoz fall back under its 16 year downtrend line, now about 600 oz.
Don't miss the portent here: If stocks measured in metals continue to plunge, it means that the rigged and phony Bernanke Rally, floating higher on a sewer full of newly created money, has ended, and that metals will resume outperforming stocks.
Dollar index fell 23.7 basis points (0.3%) to 82.22. Heavy news, for 82.50 support had held it till now. Next logical stopping place is 82.00 support, but the bottom of the gigantic rising wedge lies at about 81 right now, and a trip thitherward can't be ruled out.
Euro rose 0.33% to $1.3186, still rallying. Yen reversed sharply upward and closed barely above its 20 DMA and right at the 50. A break out tomorrow above today's 100.72 high will take it much higher.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.
Change : 43.10 or 3.33%
Silver Price Close Today : 20.498
Change : 1.050 or 5.40%
Gold Silver Ratio Today : 65.197
Change : -1.304 or -1.96%
Silver Gold Ratio Today : 0.01534
Change : 0.000301 or 2.00%
Platinum Price Close Today : 1447.00
Change : 17.30 or 1.21%
Palladium Price Close Today : 749.55
Change : 0.90 or 0.12%
S&P 500 : 1,695.53
Change : 3.44 or 0.20%
Dow In GOLD$ : $240.46
Change : $ (7.98) or -3.21%
Dow in GOLD oz : 11.632
Change : -0.386 or -3.21%
Dow in SILVER oz : 758.39
Change : -40.85 or -5.11%
Dow Industrial : 15,545.55
Change : 1.81 or 0.01%
US Dollar Index : 82.220
Change : -0.237 or -0.29%
The GOLD PRICE gapped up $25 on the US open, from Friday's $1,293.30 close to today's $1,318.30 open. Whoa! Burst through $1,325 resistance and ran $43.10 (3.3%) before stopping at $1,336.40.
The SILVER PRICE gapped up, opening at 1990c. Once silver climbed above 2000 it must have hit thousands of open buy orders. Gained 105 cents (5.4%) for the day and closed at 2049.8c.
Encouraging as this is, put it into perspective. Gold fell off last time (June) at $1,350, and before that in April at $1,550. Sure, today's close takes gold above and outside both its trading channel and the downtrend line from the April plunge, and right at its 50 DMA ($1,335.70). All very constructive, but what next? Can the GOLD PRICE clear $1,350, then $1,425? Or is it just sucking us in before one last plunge?
Durned if I know, just like I can't yet be certain that the $1,179.40 low in June was THE low. Clearly the momentum leads upward (12 day rate of change is 6.59% today), but that rate of change has also reached the high where gold fell in May.
SILVER PRICE today punched above its downtrend line from April, closed above its 20 DMA, but remains below its 50 DMA (2109c). Silver needs to make good those batterings it has suffered since April. That means closing above 2133c (plunge in June) and 2350c.
Now the question of buying once again becomes "Which would you rather hold, dollars or metals?" Given the record, that's a pretty easy one.
The Detroit bankruptcy has given us a harbinger of future municipal and state bankruptcies: the pensioners get a 90% haircut. This is inevitable. Municipalities and states promised pensions based on projections of stock market gains from the 1990s and earning 6% on bonds, then hit a stock bear market and Bubble Ben's zero interest rate policy. Pensioners will sue and scream, but will be lucky indeed to get anything. Whoops -- for three years Detroit paid nothing at all into its retirement fund. Well, they just FORGOT, I reckon.
I don't want to spoil y'all's supper, but I really haven't been candid. I've been seeing the bond bubble Bernanke has built since 2008 and the sovereign debt crisis -- including the good ol' USA, where the admitted government debt without the hidden liabilities is 105% of gross domestic product. Because everyone who receives government money will fight like a banshee to keep it coming, and no politician will say no, short of a collapse or dictator, spending will never be cut, which means default is likewise inevitable because revenue falls so short of spending. Whether the default comes through an outright repudiation (the best but least likely solution) or it comes through a hyperinflation to inflate away the debt, default will come.
Either way, if you are in dollars, stocks, or bonds, your goose will be charbroiled. I dislike telling y'all this because I dislike disaster-mongers, but there it is. Sure, sure, everyone will tell you it's impossible the US would default, it's unthinkable the Fed would allow a hyperinflation, etc., etc. They cannot admit the truth because it implies such horrors, but the truth won't go away. Bernanke and the central banks of the world have already put the world onto that path.
So now it becomes a question, would you rather hold dollars/stocks/bonds facing default or hyperinflation, or gold and silver threatened by another decline -- maybe?
Big moves today, all 9 months pregnant with meaning. Stocks hit new highs today. S&P hit its fifth new high in seven days, third new high in three days. Dow has made three new highs in the last seven trading days. Folks, it just don't get that good.
There's more: in the teeth of new stock highs, the Dow in silver and Dow in gold broke down today, decisively, unarguably, probably irrecallably. The US dollar index fell through support at 82.50, closing at 82.20, down 23.7 basis points or 0.3%. Finally, silver and gold gapped up 3.3% and 5.4%, causing a run on Tums and Tagamet in the neighborhood around the Federal Reserve in Washington.
Looking more closely, the Dow closed up 1.81 at 15,545.55, which is as close to flat as you can get without actually being a skillet. S&P500 made another new high, rising 3.445 (0.2%) to 1,695.53.
I have been expecting stocks to move even higher than highs we've seen, but I looked at 5 month chart today and my poor old eyes could see nothing but an arresting double top. Now, that's merely where they sit now, and both could move higher, wrecking that double top formation --- but three new highs in three days, and 5 in 7? That's a mania, due for a whupping.
Meanwhile stocks measured in metals finally broke down out of that long topping formation, and in the teeth of stock strength.
Both the Dow in gold and Dow in silver had formed triangles, and both fell out of those triangles today. Dow in gold fell 3.21% to 11.632 oz (G$240.46 gold dollars, down nearly eight gold dollars). 50 day moving average awaits at 11.40 oz, and the DiG already fell below its 20 DMA (12.05 oz) on Friday.
Dow in silver plunged 40.85 oz (5.11%) today and ended at 758.49 oz, versus Friday's 799.25 oz. DiSoz smashed the 20 DMA (781.91) today, so next confirmation comes at the 50 DMA (724.03). Remember, we want to see the DiSoz fall back under its 16 year downtrend line, now about 600 oz.
Don't miss the portent here: If stocks measured in metals continue to plunge, it means that the rigged and phony Bernanke Rally, floating higher on a sewer full of newly created money, has ended, and that metals will resume outperforming stocks.
Dollar index fell 23.7 basis points (0.3%) to 82.22. Heavy news, for 82.50 support had held it till now. Next logical stopping place is 82.00 support, but the bottom of the gigantic rising wedge lies at about 81 right now, and a trip thitherward can't be ruled out.
Euro rose 0.33% to $1.3186, still rallying. Yen reversed sharply upward and closed barely above its 20 DMA and right at the 50. A break out tomorrow above today's 100.72 high will take it much higher.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Friday, July 19, 2013
Gold Price Added Another $8.70 to Close the Week at $1,293.30
Gold Price Close Today : 1,293.30
Gold Price Close 5-Jul-13 : 1,277.80
Change : 8.70 or 0.7%
Silver Price Close Today : 19.45
Silver Price Close 5-Jul-13 : 19.78
Change : 0.07 or 0.4%
Gold Silver Ratio Today : 66.500
Gold Silver Ratio 5-Jul-13 : 64.604
Change : 0.445 or 0.7%
Silver & gold can't agree with each other. The GOLD PRICE was knocked from the top of its trading range to the bottom this week and came right back to close the week higher. Added another $8.70 today to end at $1,293.30, ending the week up 1.2%.
The SILVER PRICE ended the week down 1.7%, although it rose 7.2 cents today to 1944.8c. It broke down and past the bottom of its 5 day trading range, but came back with the gold price reluctantly. This disagreement casts a cloud over gold's performance. It's perfectly possible that the GOLD PRICE ran up to $1,300 resistance, fell back, then came back for this second try today only to fail again & fall to lower lows. In any event, gold has not beaten its way through $1,300 yet, its first barrier to conquer. Next week will tell.
Thus we still can't claim those June metals' lows to be the ultimate lows, until they confirm upside with higher prices. We keep waiting for technical evidence. Meanwhile, the fundamental evidence against the dollar and currencies and economies around the world keeps worsening. While all the goofs in the media applaud Bernanke & the criminals who run the world's central banks, the loonies have taken the world -- and the dollar -- where they have never been before, and this ain't Star Trek, this is the real world, with real economies, and they are running dangerously close to wrecking everything by their foolhardy inflation. The outcome of such a collapse would be so devastating, so catastrophic, that I can almost hope Bernanke & the other psychopaths get away with their gamble.
Now I know that my garlicky language will draw rebukes from some of y'all, but I want to define "psychopath": a person who manifests amoral and antisocial behavior, lack of the ability to love, extreme egocentricity, & failure to learn from experience. If that don't define our central banking criminals, words cannot.
Strange week. Stocks keep eking out new highs, slowly, slowly. US dollar is struggling to maintain respectability, platinum & palladium are jumping, but gold & silver are gainsaying each other, talking at cross purposes.
Dow dropped today 4.8 (0.03%) to end at 15,543.74, down on the day but up 0.5% for the week. S&P500 rose today 2.72 (0.16%) to 1,692.09. It gained 0.7% for the week.
I really don't pay much attention to the raw numbers for the Dow or S&P500, leastways, not as much attention as I pay to the Dow in Silver or Dow in Gold. That tells me more clearly how stocks are performing against silver & gold. Once stocks are consistently dropping once more against silver & gold, we can be sure the metals' bottom is behind us.
Today the Dow in gold fell 0.7% to 12.019 oz (GS248.45 gold dollars). It remains in a downtrend, and more importantly, the 12 day rate of change has dipped into negative territory, meaning it's lower today than it was 12 days ago. Trending down.
Dow in silver is clouding the picture. It dropped today 0.4% (3.22 oz) to 799.25 oz. That's positive for silver, and overall the rate of change is trending down, but in the past few days it has popped up to a positive 3.72%. What we want to see is both the Dow in Silver & Dow in Gold in firm downtrends with rates of change below zero.
The US dollar index lost 35.1 basis points this week (0.4%, 17.4 basis points today). Weak, but still it has bounced off support at 82.50 & support at 82 will be stronger still. If I speculated in currencies, and I don't, any more than I shoot craps & for like reasons, I would be looking a chance to buy rather than sell dollars right now.
Yen lost another 0.18% today to close at 99.38 cents/Y100. Yen must hold 98.5 cents to remain in its intermediate uptrend. Euro rose 0.25% to $1.3143. Euro successfully tested support of its short term uptrend line this week and remains headed higher in the short term. Long term, I'd rather sleep with bed bugs than own the euro.
Y'all enjoy your weekend!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Gold Price Close 5-Jul-13 : 1,277.80
Change : 8.70 or 0.7%
Silver Price Close Today : 19.45
Silver Price Close 5-Jul-13 : 19.78
Change : 0.07 or 0.4%
Gold Silver Ratio Today : 66.500
Gold Silver Ratio 5-Jul-13 : 64.604
Change : 0.445 or 0.7%
Silver & gold can't agree with each other. The GOLD PRICE was knocked from the top of its trading range to the bottom this week and came right back to close the week higher. Added another $8.70 today to end at $1,293.30, ending the week up 1.2%.
The SILVER PRICE ended the week down 1.7%, although it rose 7.2 cents today to 1944.8c. It broke down and past the bottom of its 5 day trading range, but came back with the gold price reluctantly. This disagreement casts a cloud over gold's performance. It's perfectly possible that the GOLD PRICE ran up to $1,300 resistance, fell back, then came back for this second try today only to fail again & fall to lower lows. In any event, gold has not beaten its way through $1,300 yet, its first barrier to conquer. Next week will tell.
Thus we still can't claim those June metals' lows to be the ultimate lows, until they confirm upside with higher prices. We keep waiting for technical evidence. Meanwhile, the fundamental evidence against the dollar and currencies and economies around the world keeps worsening. While all the goofs in the media applaud Bernanke & the criminals who run the world's central banks, the loonies have taken the world -- and the dollar -- where they have never been before, and this ain't Star Trek, this is the real world, with real economies, and they are running dangerously close to wrecking everything by their foolhardy inflation. The outcome of such a collapse would be so devastating, so catastrophic, that I can almost hope Bernanke & the other psychopaths get away with their gamble.
Now I know that my garlicky language will draw rebukes from some of y'all, but I want to define "psychopath": a person who manifests amoral and antisocial behavior, lack of the ability to love, extreme egocentricity, & failure to learn from experience. If that don't define our central banking criminals, words cannot.
Strange week. Stocks keep eking out new highs, slowly, slowly. US dollar is struggling to maintain respectability, platinum & palladium are jumping, but gold & silver are gainsaying each other, talking at cross purposes.
Dow dropped today 4.8 (0.03%) to end at 15,543.74, down on the day but up 0.5% for the week. S&P500 rose today 2.72 (0.16%) to 1,692.09. It gained 0.7% for the week.
I really don't pay much attention to the raw numbers for the Dow or S&P500, leastways, not as much attention as I pay to the Dow in Silver or Dow in Gold. That tells me more clearly how stocks are performing against silver & gold. Once stocks are consistently dropping once more against silver & gold, we can be sure the metals' bottom is behind us.
Today the Dow in gold fell 0.7% to 12.019 oz (GS248.45 gold dollars). It remains in a downtrend, and more importantly, the 12 day rate of change has dipped into negative territory, meaning it's lower today than it was 12 days ago. Trending down.
Dow in silver is clouding the picture. It dropped today 0.4% (3.22 oz) to 799.25 oz. That's positive for silver, and overall the rate of change is trending down, but in the past few days it has popped up to a positive 3.72%. What we want to see is both the Dow in Silver & Dow in Gold in firm downtrends with rates of change below zero.
The US dollar index lost 35.1 basis points this week (0.4%, 17.4 basis points today). Weak, but still it has bounced off support at 82.50 & support at 82 will be stronger still. If I speculated in currencies, and I don't, any more than I shoot craps & for like reasons, I would be looking a chance to buy rather than sell dollars right now.
Yen lost another 0.18% today to close at 99.38 cents/Y100. Yen must hold 98.5 cents to remain in its intermediate uptrend. Euro rose 0.25% to $1.3143. Euro successfully tested support of its short term uptrend line this week and remains headed higher in the short term. Long term, I'd rather sleep with bed bugs than own the euro.
Y'all enjoy your weekend!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Thursday, July 18, 2013
Gold Price Closed Above its 20 Day Moving Average at $1,284.60
Gold Price Close Today : 1284.60
Change : 6.70 or 0.52%
Silver Price Close Today : 19.376
Change : -0.033 or -0.17%
Gold Silver Ratio Today : 66.299
Change : 0.458 or 0.70%
Silver Gold Ratio Today : 0.01508
Change : -0.000105 or -0.69%
Platinum Price Close Today : 1413.30
Change : 1.70 or 0.12%
Palladium Price Close Today : 746.40
Change : 12.05 or 1.64%
S&P 500 : 1,689.37
Change : 8.46 or 0.50%
Dow In GOLD$ : $250.21
Change : $ (0.05) or -0.02%
Dow in GOLD oz : 12.104
Change : -0.002 or -0.02%
Dow in SILVER oz : 802.46
Change : 5.38 or 0.68%
Dow Industrial : 15,548.54
Change : 78.02 or 0.50%
US Dollar Index : 82.783
Change : 0.097 or 0.12%
Whoa, wait a minute! Silver and GOLD PRICES were supposed to follow through downside after yesterday's dip, but they didn't. In fact, gold rose $6.70 to $1,284.60 and silver fell 3.3 cents to 1937.6c. Yet here in the aftermarket they are trading at $1,286.30 and 1948c.
What meaneth this? It could be a sign of strength, if both were driven to the bottom of their trading range, silver even further, yet they didn't break down the next day. Gold remains above its 20 DMA ($1,259.48) and silver nearby (1944c). Gold's 12 day rate of change remains positive at 2.38% (good sign, but slowing), but the SILVER PRICE has dipped below zero at -0.69% (not a good sign). We'll just have to wait to see what the market tells us tomorrow.
Stocks continue their feeding mania. Dow rose 78.02 (0.5%) to 15,548.54 and the S&P500 trailed right along, rising 8.46 (0.5%) to 1,689.37.
Dow in gold was basically flat, down 0.02% to 12.104 oz (G$250.21 gold dollars), but Dow in silver rose 0.68% or 5.38 oz to 802.46 oz.
Whatever 'twas the Bernancubus said yesterday, it helped the dollar index today. It rose 9.7 basis points (0.12%) to 82.783. I mistrust, however, that gap it left getting down here, and it abides below its 20 DMA. Expect lower prices before the dollar turns around with a will -- but this is all short term stuff. Dollar remain in intermediate term rally mode.
Yen fell 0.87% to 99.56 cents/Y100, fairly wrecking its short term uptrend. Euro lost only 0.11% to $1.3110, still in a short term uptrend.
I suspect Bernanke's main goal this week was to talk down interest rates (or talk up the bond market, as interest rates move opposite to bond prices). He has fallen into his own trap, and blown up the Grendel's mother of all bubbles in US bonds. He has forgotten Hippocrates' first rule, the one that other generations of central bankers always observed religiously: first, do no harm. Hard as it is to conceive, playing "Masters of the Universe" he and his trolls have actually created a bubble big enough to bring down the US dollar. I'd rather have a gas station manager, a genuine businessman in charge. At least he'd know not to water down the gasoline.
I'm travelling today so must make this short. My wife's hungry, and my main goal in this life is to keep her well fed and happy, so I've got to find her something to eat.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.
Change : 6.70 or 0.52%
Silver Price Close Today : 19.376
Change : -0.033 or -0.17%
Gold Silver Ratio Today : 66.299
Change : 0.458 or 0.70%
Silver Gold Ratio Today : 0.01508
Change : -0.000105 or -0.69%
Platinum Price Close Today : 1413.30
Change : 1.70 or 0.12%
Palladium Price Close Today : 746.40
Change : 12.05 or 1.64%
S&P 500 : 1,689.37
Change : 8.46 or 0.50%
Dow In GOLD$ : $250.21
Change : $ (0.05) or -0.02%
Dow in GOLD oz : 12.104
Change : -0.002 or -0.02%
Dow in SILVER oz : 802.46
Change : 5.38 or 0.68%
Dow Industrial : 15,548.54
Change : 78.02 or 0.50%
US Dollar Index : 82.783
Change : 0.097 or 0.12%
Whoa, wait a minute! Silver and GOLD PRICES were supposed to follow through downside after yesterday's dip, but they didn't. In fact, gold rose $6.70 to $1,284.60 and silver fell 3.3 cents to 1937.6c. Yet here in the aftermarket they are trading at $1,286.30 and 1948c.
What meaneth this? It could be a sign of strength, if both were driven to the bottom of their trading range, silver even further, yet they didn't break down the next day. Gold remains above its 20 DMA ($1,259.48) and silver nearby (1944c). Gold's 12 day rate of change remains positive at 2.38% (good sign, but slowing), but the SILVER PRICE has dipped below zero at -0.69% (not a good sign). We'll just have to wait to see what the market tells us tomorrow.
Stocks continue their feeding mania. Dow rose 78.02 (0.5%) to 15,548.54 and the S&P500 trailed right along, rising 8.46 (0.5%) to 1,689.37.
Dow in gold was basically flat, down 0.02% to 12.104 oz (G$250.21 gold dollars), but Dow in silver rose 0.68% or 5.38 oz to 802.46 oz.
Whatever 'twas the Bernancubus said yesterday, it helped the dollar index today. It rose 9.7 basis points (0.12%) to 82.783. I mistrust, however, that gap it left getting down here, and it abides below its 20 DMA. Expect lower prices before the dollar turns around with a will -- but this is all short term stuff. Dollar remain in intermediate term rally mode.
Yen fell 0.87% to 99.56 cents/Y100, fairly wrecking its short term uptrend. Euro lost only 0.11% to $1.3110, still in a short term uptrend.
I suspect Bernanke's main goal this week was to talk down interest rates (or talk up the bond market, as interest rates move opposite to bond prices). He has fallen into his own trap, and blown up the Grendel's mother of all bubbles in US bonds. He has forgotten Hippocrates' first rule, the one that other generations of central bankers always observed religiously: first, do no harm. Hard as it is to conceive, playing "Masters of the Universe" he and his trolls have actually created a bubble big enough to bring down the US dollar. I'd rather have a gas station manager, a genuine businessman in charge. At least he'd know not to water down the gasoline.
I'm travelling today so must make this short. My wife's hungry, and my main goal in this life is to keep her well fed and happy, so I've got to find her something to eat.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Wednesday, July 17, 2013
Gold Price Closed at $1,277.90 falling $12.90 Silver Price Closed at $19.41 falling $0.51
Gold Price Close Today : 1277.90
Change : -12.90 or -1.00%
Silver Price Close Today : 19.409
Change : -0.514 or -2.58%
Gold Silver Ratio Today : 65.841
Change : 1.051 or 1.62%
Silver Gold Ratio Today : 0.01519
Change : -0.000246 or -1.60%
Platinum Price Close Today : 1411.60
Change : -14.50 or -1.02%
Palladium Price Close Today : 734.35
Change : -0.15 or -0.02%
S&P 500 : 1,680.91
Change : 4.65 or 0.28%
Dow In GOLD$ : $250.26
Change : $ 2.80 or 1.13%
Dow in GOLD oz : 12.106
Change : 0.135 or 1.13%
Dow in SILVER oz : 797.08
Change : 21.50 or 2.77%
Dow Industrial : 15,470.52
Change : 18.67 or 0.12%
US Dollar Index : 82.644
Change : 0.111 or 0.13%
The GOLD PRICE coughed up $12.90 (-1%) to $1,277.90. Silver backed away 51.4 cents (2.6%) to 1940.9c.
Bernanke said he would continue unraveling the dollar, but silver and gold prices dropped. Welcome to Wonderland, Alice.
Oddly enough, the GOLD PRICE remained in the range that has reigned for the last five days. Still, today's fall counts as a failure at $1,300 resistance, and forecasts gold may fall further. Should gold hold above $1,270 and advance, it would gainsay that outlook.
The SILVER PRICE, on the other hand, fell out of its trading range (bottom was about 1970c) to a low at 1929.2c and a close at 1940.9c. That closes silver also below the 20 day moving average. Expect more downside, unless silver contradicts by closing higher tomorrow.
Here's a measure of how much I love y'all: I willingly watch video clips of Ben Bernanke so I can write for y'all. Yes, I watch him, even though my Hogwash Detector is blaring its klaxon in my ear and you could see its red alarm blinking from outer space. Still, I watch him.
But I am not edified. Poor man is succumbing to Greenspan's Disease, so every sentence he says he pulls right back with the next sentence. Clearly the import of today's performance is that he roiled the markets with his June statement and is trying to calm them with this -- "calm them" being code words for assure them he will create more money by buying more bonds.
This is just so wrong I don't know where to start. I had a friend in Memphis who was a policeman back in the 1970s. About 2:00 a.m. he got called out on a domestic violence call. He noticed that several small children were playing out on the street. He went and knocked on the door, and while he was waiting for an answer a little 5 year old hand tugged at his sleeve: "Hey, (12 letter word), give me a nickel!" There's so much wrong in that situation, like Bernanke's speechifying, that you just don't know where to start. Just let it lie. Anybody who thinks you can inflate your way to prosperity is so ignorant of history and economics there's just ain't no point in messing with him.
In spite of all Ben the Beneficent (of all the many words I could choose that begin with B) bloviating, stocks traded jaggedly today, and ended up minimally.
Dow gained 18.67 (0.12%) to 15,470.52. S&P500 scratched up 4.65 (0.,28%) to end at 1,680.91.
Dow measured by silver and gold jumped up today, but still below past lows. Dow in gold added 1.15% to close at 12.106 oz (G$250.25 gold dollars) versus a June high of 12.56. Dow in silver jumped 21.5 oz (2.77%) to 797.08 (versus June high at 819.52). Still rolling over downward.
US dollar index rose 11.1 basis points (0.14%), but on what grounds no sane person might say. Just rose because Bernanke failed to say he intended to nuke Washington, DC.
Dollar's short term trend remains down, but this is likely only part of a longer term rise.
Euro lost 0.26% today to $1.3125, still climbing, though. Yen lost 0.41% to 100.47 cents/Y100 -- moving sideways.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.
Change : -12.90 or -1.00%
Silver Price Close Today : 19.409
Change : -0.514 or -2.58%
Gold Silver Ratio Today : 65.841
Change : 1.051 or 1.62%
Silver Gold Ratio Today : 0.01519
Change : -0.000246 or -1.60%
Platinum Price Close Today : 1411.60
Change : -14.50 or -1.02%
Palladium Price Close Today : 734.35
Change : -0.15 or -0.02%
S&P 500 : 1,680.91
Change : 4.65 or 0.28%
Dow In GOLD$ : $250.26
Change : $ 2.80 or 1.13%
Dow in GOLD oz : 12.106
Change : 0.135 or 1.13%
Dow in SILVER oz : 797.08
Change : 21.50 or 2.77%
Dow Industrial : 15,470.52
Change : 18.67 or 0.12%
US Dollar Index : 82.644
Change : 0.111 or 0.13%
The GOLD PRICE coughed up $12.90 (-1%) to $1,277.90. Silver backed away 51.4 cents (2.6%) to 1940.9c.
Bernanke said he would continue unraveling the dollar, but silver and gold prices dropped. Welcome to Wonderland, Alice.
Oddly enough, the GOLD PRICE remained in the range that has reigned for the last five days. Still, today's fall counts as a failure at $1,300 resistance, and forecasts gold may fall further. Should gold hold above $1,270 and advance, it would gainsay that outlook.
The SILVER PRICE, on the other hand, fell out of its trading range (bottom was about 1970c) to a low at 1929.2c and a close at 1940.9c. That closes silver also below the 20 day moving average. Expect more downside, unless silver contradicts by closing higher tomorrow.
Here's a measure of how much I love y'all: I willingly watch video clips of Ben Bernanke so I can write for y'all. Yes, I watch him, even though my Hogwash Detector is blaring its klaxon in my ear and you could see its red alarm blinking from outer space. Still, I watch him.
But I am not edified. Poor man is succumbing to Greenspan's Disease, so every sentence he says he pulls right back with the next sentence. Clearly the import of today's performance is that he roiled the markets with his June statement and is trying to calm them with this -- "calm them" being code words for assure them he will create more money by buying more bonds.
This is just so wrong I don't know where to start. I had a friend in Memphis who was a policeman back in the 1970s. About 2:00 a.m. he got called out on a domestic violence call. He noticed that several small children were playing out on the street. He went and knocked on the door, and while he was waiting for an answer a little 5 year old hand tugged at his sleeve: "Hey, (12 letter word), give me a nickel!" There's so much wrong in that situation, like Bernanke's speechifying, that you just don't know where to start. Just let it lie. Anybody who thinks you can inflate your way to prosperity is so ignorant of history and economics there's just ain't no point in messing with him.
In spite of all Ben the Beneficent (of all the many words I could choose that begin with B) bloviating, stocks traded jaggedly today, and ended up minimally.
Dow gained 18.67 (0.12%) to 15,470.52. S&P500 scratched up 4.65 (0.,28%) to end at 1,680.91.
Dow measured by silver and gold jumped up today, but still below past lows. Dow in gold added 1.15% to close at 12.106 oz (G$250.25 gold dollars) versus a June high of 12.56. Dow in silver jumped 21.5 oz (2.77%) to 797.08 (versus June high at 819.52). Still rolling over downward.
US dollar index rose 11.1 basis points (0.14%), but on what grounds no sane person might say. Just rose because Bernanke failed to say he intended to nuke Washington, DC.
Dollar's short term trend remains down, but this is likely only part of a longer term rise.
Euro lost 0.26% today to $1.3125, still climbing, though. Yen lost 0.41% to 100.47 cents/Y100 -- moving sideways.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Tuesday, July 16, 2013
Gold Price Closed Up $6.90 at $1,290.40
Gold Price Close Today : 1,290.40
Change : 6.90 or 0.54%
Silver Price Close Today : 19.92
Change : 0.10 or 0.49%
Gold Silver Ratio Today : 64.77
Change : 0.19 or 0.29%
Franklin didn't publish commentary today, if he publishes later it will be available here.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Change : 6.90 or 0.54%
Silver Price Close Today : 19.92
Change : 0.10 or 0.49%
Gold Silver Ratio Today : 64.77
Change : 0.19 or 0.29%
Franklin didn't publish commentary today, if he publishes later it will be available here.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Monday, July 15, 2013
Silver and Gold Prices Rose — Gold Price Closing at $1,283.80
Gold Price Close Today : 1283.80
Change : 6.00 or 0.47%
Silver Price Close Today : 19.826
Change : 0.047 or 0.24%
Gold Silver Ratio Today : 64.753
Change : 0.149 or 0.23%
Silver Gold Ratio Today : 0.01544
Change : -0.000036 or -0.23%
Platinum Price Close Today : 1422.50
Change : 12.90 or 0.92%
Palladium Price Close Today : 731.05
Change : 9.45 or 1.31%
S&P 500 : 1,682.50
Change : 2.31 or 0.14%
Dow In GOLD$ : $249.33
Change : $ (0.85) or -0.34%
Dow in GOLD oz : 12.061
Change : -0.041 or -0.34%
Dow in SILVER oz : 781.01
Change : -0.85 or -0.11%
Dow Industrial : 15,484.26
Change : 19.96 or 0.13%
US Dollar Index : 83.081
Change : 0.150 or 0.18%
GOLD PRICE gained six paper dollars (0.47%) to $1,283.80 while the silver gained 4.7 cents (0.24%) to 1982.6c.
Listen, y'all, ponds can stagnate but markets can't. They never stay flat for long. Floating along here below $1,300 resistance is not positive for gold. It looks stalled.
In gold's favor, it has now closed three days above its 20 day moving average ($1,272.43) and it stands above its downtrend line from the April highs. Yet it has not yet climbed above the downward upper channel line it has formed since the May high. Nor has it blasted through $1,300/$1,325 resistance. If the GOLD PRICE lounges here too long, it will fall off the couch.
The SILVER PRICE hath also three days closed above its 20 DMA (now 1975c), but has not yet thrown a leg over its downtrend line from the April high.
Yep, I know I sound like a carper, but the plunges beginning in April have done lots of damage to the metals. Twill take lots of work to repair that damage.
Oh, nothing has changed long term. Silver and gold prices remain in a primary uptrend (bull market), and the best is yet to come. They just have to rumble over this rough spot.
In the Lunatic Asylum called the United States, here's an example of what passes for sanity. One Senator Kay Hagan, a North Carolina Democrat, has sponsored legislation that would dissolve Fannie Mae and Freddie Mac, the government sponsored entities that cornered the market on making mortgages and added jet fuel to the real estate bubble. If it just stopped there, who would complain? But that would be sound reasoning and sanity, which have no place in America and certainly not in the US congress. Her bill would also found a new "Federal Mortgage Insurance Corporation" like the Federal Deposit Insurance Corporation, only to insure banks against their losses in mortgages.
The reasoning runs something like this: government entities have been SOOO successful in the mortgage field, that we need another, even bigger one to bail out the banks in case of another mortgage bubble.
Is there not even a single pea-brain in Washington who can see that the CAUSE of bubbles is government meddling in the economy?
Never mind, that's not the real point of this legislation. The real point is the "Garbage Can." You can count on a natural born fool from Tennessee not to church up and sugar coat what's really going on. It's simple: follow the money. Cui bono? Who benefits? Whose palm is greased?
Remember the Savings and Loan Crisis back in the early 1990s? The government applied the "Garbage Can" solution: create a garbage can where you can dump all the worthless securities, let them ferment and fester a while, and maybe some of 'em will make good. Meanwhile, you've gotten them off the banks' balance sheet and charged up the banks for the next bubble.
What's most incredible is that Bernanke has turned the Fed into the Garbage Can for the mortgage bubble. Think -- what's he buying? Mortgage Backed Securities. What was rotting fastest in the mortgage bubble's wake? Mortgage Backed Securities. Hagan's plan to scrap Freddie and Fannie and create a federal mortgage insurer no doubt belongs to a plan to bail the Fed out of all that bad paper, creating a new Garbage Can.
Shucks! I left out the best part: the point of the garbage can is always to dump all the losses where they belong, on the taxpayers' backs.
Finally, for folks who don't even have as much sense as a natural born Tennessee fool, what evidence CLINCHES my conspiracy theory? Who's backing Hagan's plan? Why, the NC banking, credit union, and realtor associations, as well as the National Assn. of Home Builders. Folks, where that many hogs are gathered, there's bound to be a trough somewhere.
There's more. 5 Republicans and 3 other democrats on the banking committee favor this. "Bipartisan" is virtually a synonym for "the banks want it."
How long are y'all gonna stand for this?
In today's markets not a whole lot happened. Stocks rose a smidge, silver and gold rose, dollar rose, but nothing rose enough to cross any milestones. Yet.
Stocks managed a face saving rise. Dow added 19.96 (0.13%) to 15,484.26. S&P edged up 2.31 (0.14%) to 1,682.50. They are fulfilling a gigantic head and shoulders top that stretcheth back to 1997, which itself fulfills a 300 year wave in stocks. The break will bring more pain that we can imagine -- but not yet. Not just yet. Will need higher highs to generate even more one-sided mania.
In spite of new nominal highs in stock indices today, the Dow in gold and Dow in silver actually dropped. Dow in gold ended at G$249.33 gold dollars (12.061 oz), down 0.34%. Dow in silver swayed 0.85 ounce (-0.11%) to end at 781.01 oz. They still appear to be rolling over gravity-ward.
US dollar index also saved face today by climbing back above 83. Ended up 15 basis point (0.19%) at 83.081. Euro barely moved, down 0.03% to $1.3064. Yen dropped 0.63% and damaged its infant uptrend, but not fatally. Dollar's rise is not over.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.
Change : 6.00 or 0.47%
Silver Price Close Today : 19.826
Change : 0.047 or 0.24%
Gold Silver Ratio Today : 64.753
Change : 0.149 or 0.23%
Silver Gold Ratio Today : 0.01544
Change : -0.000036 or -0.23%
Platinum Price Close Today : 1422.50
Change : 12.90 or 0.92%
Palladium Price Close Today : 731.05
Change : 9.45 or 1.31%
S&P 500 : 1,682.50
Change : 2.31 or 0.14%
Dow In GOLD$ : $249.33
Change : $ (0.85) or -0.34%
Dow in GOLD oz : 12.061
Change : -0.041 or -0.34%
Dow in SILVER oz : 781.01
Change : -0.85 or -0.11%
Dow Industrial : 15,484.26
Change : 19.96 or 0.13%
US Dollar Index : 83.081
Change : 0.150 or 0.18%
GOLD PRICE gained six paper dollars (0.47%) to $1,283.80 while the silver gained 4.7 cents (0.24%) to 1982.6c.
Listen, y'all, ponds can stagnate but markets can't. They never stay flat for long. Floating along here below $1,300 resistance is not positive for gold. It looks stalled.
In gold's favor, it has now closed three days above its 20 day moving average ($1,272.43) and it stands above its downtrend line from the April highs. Yet it has not yet climbed above the downward upper channel line it has formed since the May high. Nor has it blasted through $1,300/$1,325 resistance. If the GOLD PRICE lounges here too long, it will fall off the couch.
The SILVER PRICE hath also three days closed above its 20 DMA (now 1975c), but has not yet thrown a leg over its downtrend line from the April high.
Yep, I know I sound like a carper, but the plunges beginning in April have done lots of damage to the metals. Twill take lots of work to repair that damage.
Oh, nothing has changed long term. Silver and gold prices remain in a primary uptrend (bull market), and the best is yet to come. They just have to rumble over this rough spot.
In the Lunatic Asylum called the United States, here's an example of what passes for sanity. One Senator Kay Hagan, a North Carolina Democrat, has sponsored legislation that would dissolve Fannie Mae and Freddie Mac, the government sponsored entities that cornered the market on making mortgages and added jet fuel to the real estate bubble. If it just stopped there, who would complain? But that would be sound reasoning and sanity, which have no place in America and certainly not in the US congress. Her bill would also found a new "Federal Mortgage Insurance Corporation" like the Federal Deposit Insurance Corporation, only to insure banks against their losses in mortgages.
The reasoning runs something like this: government entities have been SOOO successful in the mortgage field, that we need another, even bigger one to bail out the banks in case of another mortgage bubble.
Is there not even a single pea-brain in Washington who can see that the CAUSE of bubbles is government meddling in the economy?
Never mind, that's not the real point of this legislation. The real point is the "Garbage Can." You can count on a natural born fool from Tennessee not to church up and sugar coat what's really going on. It's simple: follow the money. Cui bono? Who benefits? Whose palm is greased?
Remember the Savings and Loan Crisis back in the early 1990s? The government applied the "Garbage Can" solution: create a garbage can where you can dump all the worthless securities, let them ferment and fester a while, and maybe some of 'em will make good. Meanwhile, you've gotten them off the banks' balance sheet and charged up the banks for the next bubble.
What's most incredible is that Bernanke has turned the Fed into the Garbage Can for the mortgage bubble. Think -- what's he buying? Mortgage Backed Securities. What was rotting fastest in the mortgage bubble's wake? Mortgage Backed Securities. Hagan's plan to scrap Freddie and Fannie and create a federal mortgage insurer no doubt belongs to a plan to bail the Fed out of all that bad paper, creating a new Garbage Can.
Shucks! I left out the best part: the point of the garbage can is always to dump all the losses where they belong, on the taxpayers' backs.
Finally, for folks who don't even have as much sense as a natural born Tennessee fool, what evidence CLINCHES my conspiracy theory? Who's backing Hagan's plan? Why, the NC banking, credit union, and realtor associations, as well as the National Assn. of Home Builders. Folks, where that many hogs are gathered, there's bound to be a trough somewhere.
There's more. 5 Republicans and 3 other democrats on the banking committee favor this. "Bipartisan" is virtually a synonym for "the banks want it."
How long are y'all gonna stand for this?
In today's markets not a whole lot happened. Stocks rose a smidge, silver and gold rose, dollar rose, but nothing rose enough to cross any milestones. Yet.
Stocks managed a face saving rise. Dow added 19.96 (0.13%) to 15,484.26. S&P edged up 2.31 (0.14%) to 1,682.50. They are fulfilling a gigantic head and shoulders top that stretcheth back to 1997, which itself fulfills a 300 year wave in stocks. The break will bring more pain that we can imagine -- but not yet. Not just yet. Will need higher highs to generate even more one-sided mania.
In spite of new nominal highs in stock indices today, the Dow in gold and Dow in silver actually dropped. Dow in gold ended at G$249.33 gold dollars (12.061 oz), down 0.34%. Dow in silver swayed 0.85 ounce (-0.11%) to end at 781.01 oz. They still appear to be rolling over gravity-ward.
US dollar index also saved face today by climbing back above 83. Ended up 15 basis point (0.19%) at 83.081. Euro barely moved, down 0.03% to $1.3064. Yen dropped 0.63% and damaged its infant uptrend, but not fatally. Dollar's rise is not over.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Friday, July 12, 2013
Silver and Gold Prices Gained 5.6% and 5.4% Respectively — The Gold Price Closed at $1,277.80
Gold Price Close Today : 1,277.80
Gold Price Close 5-Jul-13 : 1,212.90
Change : 64.90 or 5.4%
Silver Price Close Today : 19.779
Silver Price Close 5-Jul-13 : 18.726
Change : 1.053 or 5.6%
Gold Silver Ratio Today : 64.604
Gold Silver Ratio 5-Jul-13 : 64.771
Change : -0.17 or -0.3%
Silver Gold Ratio : 0.01548
Silver Gold Ratio 5-Jul-13 : 0.01544
Change : 0.00004 or 0.3%
Dow in Gold Dollars : $ 250.18
Dow in Gold Dollars 5-Jul-13 : $ 257.96
Change : -$7.79 or -3.0%
Dow in Gold Ounces : 12.102
Dow in Gold Ounces 5-Jul-13 : 12.479
Change : -0.38 or -3.0%
Dow in Silver Ounces : 781.85
Dow in Silver Ounces 5-Jul-13 : 808.28
Change : -26.42 or -3.3%
Dow Industrial : 15,464.30
Dow Industrial 5-Jul-13 : 15,135.84
Change : 328.46 or 2.2%
S&P 500 : 1,680.19
S&P 500 5-Jul-13 : 1,631.89
Change : 48.30 or 3.0%
US Dollar Index : 82.972
US Dollar Index 5-Jul-13 : 84.438
Change : -1.466 or -1.7%
Platinum Price Close Today : 1,409.60
Platinum Price Close 5-Jul-13 : 1,324.90
Change : 84.70 or 6.4%
Palladium Price Close Today : 721.60
Palladium Price Close 5-Jul-13 : 675.95
Change : 45.65 or 6.8%
I already like July better than June, this week silver and GOLD PRICES gained 5.6% and 5.4% respectively, best week they've had in some time. Today gold backed off $2.30 to $1,277.80 and silver 16.4 cents to 1977.9c. I think it's worth noticing that gold wound up 7 bucks higher in the aftermarket and silver ten cents. Mercy, don't that make those closes look like the NGM "painting the tape"?
Both silver and gold prices sort of stepped up this week. That is, they jumped through levels on Wednesday, straight clean up, to a higher level -- gold from $1,260 to $1,280 and the SILVER PRICE from 1940c to 1980c (and a high of 2020c). 1980c and $1,277 now become support.
For the first time since May, the 12 day rate of change for silver and GOLD PRICES has turned positive, 1.8% for silver and 0.5% for gold today (that means silver is 1.8% higher today than 12 days ago, and its momentum is upward.)
Now we face another question: one more plunge down, or will silver and gold prices confirm these little rallies by clearing $1,325 and 2200c? These counter trend rallies can sometimes seem as strong as Granny's breath, then just give out, so they'll fool you. But my mind changed this week. Don't know how to explain it exactly, but the heaviness that has weighed me down since April has lifted off my spirit. Silver and gold are coming back, and O, my! They will be relentless. Y'all throw your minds back to 1976. After a fall from January 1974 through August 1976 of nearly 50%, gold came back to rise eight times in the next four years, silver 12.5 times.
The Dow in Gold and Dow in Silver turned down about 3%, even though stocks gained 2.2% - 3%. And the US Dollar? Stomped in the mud. Down 1.7% (more than that from its midweek high) and closed hanging its scabby scalp in shame below 83.
Far's I can recollect, the Dow and S&P500 hit new closing highs today, Dow settled up 3.38 at 15,464.30 (up 0.82%) and the S&P500 rose 5.17 (0.31%) to 1680.19. But there were some odd events gainsaying those new highs. They came without new intraday highs, and they weren't crashing great advances to a new high, but eked out by point-lets.
Y'all know I'm not going to leave it at that, for yet another non-confirmation nagged at those new stock highs. Ah, yes, the Dow in Gold and Dow in Silver neither one made new highs. Lo, they closed not inconsequentially below their late highs. For example, the Dow in Gold today closed at 12.012 oz (up 0.2%, $250.18 gold dollars), a right smart below its June high at 12.56 oz. Dow in silver ended at 781.85 oz (up 6.6 oz or 0.9% on the day), 37-2/3 oz below its June 819.52 ounce high. And both are a-slidin' down in steep downtrends.
What do y'all reckon that means? It could mean that stocks have topped against silver and gold, and that might mean silver and gold have seen their price lows.
That ol' US dollar index had been riding high since mid-June, but today wasn't no more cheerful than a treed coon. It's dropped 1.67% since its 84.64 high on 9 July. Mercy, it hasn't just dropped, it has PLUNGED, as they say. Today's low at 82.89 scared the 20 Day Moving average (82.88) to death, not to mention the 50 DMA (82.87). Gap down yesterday makes it look sick as a poisoned dog. Aww, it'll probably keep goin' up, unless it falls through 80.50, and will probably turn around about 82.25, maybe 82. Whew! I wouldn't trade that nasty thang with y'all's money!
Yen and Euro are right pleased the dollar has dropped. Yen ended today down 0.27% at 100.77, starting out another little uptrend. Euro lost 0.21 to end at $1.3068, but it has popped up stronger than the yen. Irony of all this to the fastidious and rational mind is, wretched as the US dollar is, the euro and yen are worse.
Oh, and all that stuff the media is spewing about the Fed tapering and Bernanke's exit strategy? I was out working my bees today, and I have two hives in a pasture where we keep a Jersey bull, and there was lots of that same "Fed tapering" and "Bernanke's exit strategy" all over the ground.
Y'all enjoy your weekend!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Gold Price Close 5-Jul-13 : 1,212.90
Change : 64.90 or 5.4%
Silver Price Close Today : 19.779
Silver Price Close 5-Jul-13 : 18.726
Change : 1.053 or 5.6%
Gold Silver Ratio Today : 64.604
Gold Silver Ratio 5-Jul-13 : 64.771
Change : -0.17 or -0.3%
Silver Gold Ratio : 0.01548
Silver Gold Ratio 5-Jul-13 : 0.01544
Change : 0.00004 or 0.3%
Dow in Gold Dollars : $ 250.18
Dow in Gold Dollars 5-Jul-13 : $ 257.96
Change : -$7.79 or -3.0%
Dow in Gold Ounces : 12.102
Dow in Gold Ounces 5-Jul-13 : 12.479
Change : -0.38 or -3.0%
Dow in Silver Ounces : 781.85
Dow in Silver Ounces 5-Jul-13 : 808.28
Change : -26.42 or -3.3%
Dow Industrial : 15,464.30
Dow Industrial 5-Jul-13 : 15,135.84
Change : 328.46 or 2.2%
S&P 500 : 1,680.19
S&P 500 5-Jul-13 : 1,631.89
Change : 48.30 or 3.0%
US Dollar Index : 82.972
US Dollar Index 5-Jul-13 : 84.438
Change : -1.466 or -1.7%
Platinum Price Close Today : 1,409.60
Platinum Price Close 5-Jul-13 : 1,324.90
Change : 84.70 or 6.4%
Palladium Price Close Today : 721.60
Palladium Price Close 5-Jul-13 : 675.95
Change : 45.65 or 6.8%
I already like July better than June, this week silver and GOLD PRICES gained 5.6% and 5.4% respectively, best week they've had in some time. Today gold backed off $2.30 to $1,277.80 and silver 16.4 cents to 1977.9c. I think it's worth noticing that gold wound up 7 bucks higher in the aftermarket and silver ten cents. Mercy, don't that make those closes look like the NGM "painting the tape"?
Both silver and gold prices sort of stepped up this week. That is, they jumped through levels on Wednesday, straight clean up, to a higher level -- gold from $1,260 to $1,280 and the SILVER PRICE from 1940c to 1980c (and a high of 2020c). 1980c and $1,277 now become support.
For the first time since May, the 12 day rate of change for silver and GOLD PRICES has turned positive, 1.8% for silver and 0.5% for gold today (that means silver is 1.8% higher today than 12 days ago, and its momentum is upward.)
Now we face another question: one more plunge down, or will silver and gold prices confirm these little rallies by clearing $1,325 and 2200c? These counter trend rallies can sometimes seem as strong as Granny's breath, then just give out, so they'll fool you. But my mind changed this week. Don't know how to explain it exactly, but the heaviness that has weighed me down since April has lifted off my spirit. Silver and gold are coming back, and O, my! They will be relentless. Y'all throw your minds back to 1976. After a fall from January 1974 through August 1976 of nearly 50%, gold came back to rise eight times in the next four years, silver 12.5 times.
The Dow in Gold and Dow in Silver turned down about 3%, even though stocks gained 2.2% - 3%. And the US Dollar? Stomped in the mud. Down 1.7% (more than that from its midweek high) and closed hanging its scabby scalp in shame below 83.
Far's I can recollect, the Dow and S&P500 hit new closing highs today, Dow settled up 3.38 at 15,464.30 (up 0.82%) and the S&P500 rose 5.17 (0.31%) to 1680.19. But there were some odd events gainsaying those new highs. They came without new intraday highs, and they weren't crashing great advances to a new high, but eked out by point-lets.
Y'all know I'm not going to leave it at that, for yet another non-confirmation nagged at those new stock highs. Ah, yes, the Dow in Gold and Dow in Silver neither one made new highs. Lo, they closed not inconsequentially below their late highs. For example, the Dow in Gold today closed at 12.012 oz (up 0.2%, $250.18 gold dollars), a right smart below its June high at 12.56 oz. Dow in silver ended at 781.85 oz (up 6.6 oz or 0.9% on the day), 37-2/3 oz below its June 819.52 ounce high. And both are a-slidin' down in steep downtrends.
What do y'all reckon that means? It could mean that stocks have topped against silver and gold, and that might mean silver and gold have seen their price lows.
That ol' US dollar index had been riding high since mid-June, but today wasn't no more cheerful than a treed coon. It's dropped 1.67% since its 84.64 high on 9 July. Mercy, it hasn't just dropped, it has PLUNGED, as they say. Today's low at 82.89 scared the 20 Day Moving average (82.88) to death, not to mention the 50 DMA (82.87). Gap down yesterday makes it look sick as a poisoned dog. Aww, it'll probably keep goin' up, unless it falls through 80.50, and will probably turn around about 82.25, maybe 82. Whew! I wouldn't trade that nasty thang with y'all's money!
Yen and Euro are right pleased the dollar has dropped. Yen ended today down 0.27% at 100.77, starting out another little uptrend. Euro lost 0.21 to end at $1.3068, but it has popped up stronger than the yen. Irony of all this to the fastidious and rational mind is, wretched as the US dollar is, the euro and yen are worse.
Oh, and all that stuff the media is spewing about the Fed tapering and Bernanke's exit strategy? I was out working my bees today, and I have two hives in a pasture where we keep a Jersey bull, and there was lots of that same "Fed tapering" and "Bernanke's exit strategy" all over the ground.
Y'all enjoy your weekend!
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Thursday, July 11, 2013
Today the Gold Price Rose $32.70 or 2.62%
Gold Price Close Today : 1280.10
Change : 32.70 or 2.62%
Silver Price Close Today : 19.943
Change : 0.792 or 4.14%
Gold Silver Ratio Today : 64.188
Change : -0.947 or -1.45%
Silver Gold Ratio Today : 0.01558
Change : 0.000227 or 1.48%
Platinum Price Close Today : 1421.10
Change : 53.00 or 3.87%
Palladium Price Close Today : 716.90
Change : 4.40 or 0.62%
S&P 500 : 1,675.02
Change : 22.40 or 1.36%
Dow In GOLD$ : $249.67
Change : $ (3.74) or -1.48%
Dow in GOLD oz : 12.078
Change : -0.181 or -1.48%
Dow in SILVER oz : 775.26
Change : -23.22 or -2.91%
Dow Industrial : 15,460.92
Change : 169.26 or 1.11%
US Dollar Index : 83.022
Change : -0.065 or -0.08%
I knew something big was happening when the GOLD PRICE in yesterday's aftermarket jumped from $1,247.40 to $1,280.20. Mercy!
Today the gold price rose $32.70 (2.62%) to close the crooked Comex at $1,280.10. The SILVER PRICE rose 4.14% (79.2 cents) to end Comex at 1994.3, but spent much of the day above 2000c. Silver's high today was 2022.3, gold's $1,296.67.
All this improves the outlook considerably. Not only did both metals close at their 20 day moving averages, gold also closed above the downtrend line from its April high. Silver hit that line, but didn't pierce it.
Hold on, remember what H.L Hunt said about never getting down when things are tough, and never too elated in victory. To confirm a rally the GOLD PRICE needs to close not merely above $1,300, but also $1,350. Silver must see itself above 2100c. Yes, I am buying right along, but I still want proof.
One thing holding me back is that reactionary uplegs can seem strong as a garlic milkshake -- until they collapse.
Oh, one more tidbit: 12 day rate of change for gold stands right below zero, gold's is above zero at 2.3%. That means it's lightfooted, it's rising, momentum's up.
We're going to have more fun today than we've had for a looong time.
Bernanke got at it again yesterday, roilin' markets with the same weapon Samson used so effectively against the Philistines. Durned if I can keep straight what "hawkish" and "dovish" means when they're referring to the Federal Reserve open market committee, other than they're all bird-brains. Whichsoever it may be, Bernanke made noises that the diviners and readers of sheep guts and tea leaves interpreted as meaning more money printing and less talk of "tapering."
That caught some markets -- like the dollar -- overextended to the upside and others -- silver and gold -- overextended to the downside. Stocks responded in their typically irrational fashion, rising on news that Bernanke will further devalue the dollar and make economic calculations virtually impossible because of inflation AND misdirect further billions to uneconomic investments. "Hoo-ray, Hoo-ray, it's Thursday, let's get drunk!"
The US dollar index fell from 84.64 on 9 July (intraday high at 84.96) to 83.022 today, crashing 1.91%. Huge move for a currency, but remember it was ready to fall because it had been rising straight up since mid-June.
Yen and the euro turned and went the other way. Yen rose today to 101.17 cents/Y100, up 0.92%. Euro rose 0.93% to $1.3108. ( July 9 marked the bottom for both.) Euro even gapped up today and closed right above its 20 day moving average (1.3100). For a while, at least, these other two scrofulous, despicable fiat currencies will gain at the expense of the scrofulous, despicable dollar. I say "despicable" because all are nothing more than wretched shills to rob honest folk with government approval.
Speaking of shills, let us now turn our jaundiced gaze on the stock market. Today had the media chortlers a-chortlin' and the chirpers a-chirpin'. 'Pears both the S&P and Dow are on their way to challenge their way to challenge their last highs. Ahh, we'll see.
Dow today added 1.11% (169.26) to 15,460.92 (last intraday high was 15,542.40). S&P500 gobbled up 22.4 (1.25%) to end at 1,675.02 (last intraday high was 1,687.18). The jubilatin' was jinral.
That interested me less (since stocks' rise remains purely a phenomenon caused by inflation and not economic performance) than stocks measured by silver and gold. These gauges are now talking, loud and clear. While stocks rose a strong 1.11%, the Dow in gold FELL 1.48% to 12.078 oz (G$249.67 gold dollars). Dow in silver fell even more, 2.91%, down 23.22 oz to 775.26 oz. Both indicators have established a sharp four-day downtrend. Y'all take this home: they are falling in the face of a strongly rising stock market.
Lest I forget, the breakout in interest rates has probably ended its rally for a while. The yield on the 10 year treasury note rose nearly to its 6 year downtrend line, though, before it stopped for breath. My guess is that rising interest rates gave the Nice Government Men the nervous fantods and severe digestive tract distress.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.
Change : 32.70 or 2.62%
Silver Price Close Today : 19.943
Change : 0.792 or 4.14%
Gold Silver Ratio Today : 64.188
Change : -0.947 or -1.45%
Silver Gold Ratio Today : 0.01558
Change : 0.000227 or 1.48%
Platinum Price Close Today : 1421.10
Change : 53.00 or 3.87%
Palladium Price Close Today : 716.90
Change : 4.40 or 0.62%
S&P 500 : 1,675.02
Change : 22.40 or 1.36%
Dow In GOLD$ : $249.67
Change : $ (3.74) or -1.48%
Dow in GOLD oz : 12.078
Change : -0.181 or -1.48%
Dow in SILVER oz : 775.26
Change : -23.22 or -2.91%
Dow Industrial : 15,460.92
Change : 169.26 or 1.11%
US Dollar Index : 83.022
Change : -0.065 or -0.08%
I knew something big was happening when the GOLD PRICE in yesterday's aftermarket jumped from $1,247.40 to $1,280.20. Mercy!
Today the gold price rose $32.70 (2.62%) to close the crooked Comex at $1,280.10. The SILVER PRICE rose 4.14% (79.2 cents) to end Comex at 1994.3, but spent much of the day above 2000c. Silver's high today was 2022.3, gold's $1,296.67.
All this improves the outlook considerably. Not only did both metals close at their 20 day moving averages, gold also closed above the downtrend line from its April high. Silver hit that line, but didn't pierce it.
Hold on, remember what H.L Hunt said about never getting down when things are tough, and never too elated in victory. To confirm a rally the GOLD PRICE needs to close not merely above $1,300, but also $1,350. Silver must see itself above 2100c. Yes, I am buying right along, but I still want proof.
One thing holding me back is that reactionary uplegs can seem strong as a garlic milkshake -- until they collapse.
Oh, one more tidbit: 12 day rate of change for gold stands right below zero, gold's is above zero at 2.3%. That means it's lightfooted, it's rising, momentum's up.
We're going to have more fun today than we've had for a looong time.
Bernanke got at it again yesterday, roilin' markets with the same weapon Samson used so effectively against the Philistines. Durned if I can keep straight what "hawkish" and "dovish" means when they're referring to the Federal Reserve open market committee, other than they're all bird-brains. Whichsoever it may be, Bernanke made noises that the diviners and readers of sheep guts and tea leaves interpreted as meaning more money printing and less talk of "tapering."
That caught some markets -- like the dollar -- overextended to the upside and others -- silver and gold -- overextended to the downside. Stocks responded in their typically irrational fashion, rising on news that Bernanke will further devalue the dollar and make economic calculations virtually impossible because of inflation AND misdirect further billions to uneconomic investments. "Hoo-ray, Hoo-ray, it's Thursday, let's get drunk!"
The US dollar index fell from 84.64 on 9 July (intraday high at 84.96) to 83.022 today, crashing 1.91%. Huge move for a currency, but remember it was ready to fall because it had been rising straight up since mid-June.
Yen and the euro turned and went the other way. Yen rose today to 101.17 cents/Y100, up 0.92%. Euro rose 0.93% to $1.3108. ( July 9 marked the bottom for both.) Euro even gapped up today and closed right above its 20 day moving average (1.3100). For a while, at least, these other two scrofulous, despicable fiat currencies will gain at the expense of the scrofulous, despicable dollar. I say "despicable" because all are nothing more than wretched shills to rob honest folk with government approval.
Speaking of shills, let us now turn our jaundiced gaze on the stock market. Today had the media chortlers a-chortlin' and the chirpers a-chirpin'. 'Pears both the S&P and Dow are on their way to challenge their way to challenge their last highs. Ahh, we'll see.
Dow today added 1.11% (169.26) to 15,460.92 (last intraday high was 15,542.40). S&P500 gobbled up 22.4 (1.25%) to end at 1,675.02 (last intraday high was 1,687.18). The jubilatin' was jinral.
That interested me less (since stocks' rise remains purely a phenomenon caused by inflation and not economic performance) than stocks measured by silver and gold. These gauges are now talking, loud and clear. While stocks rose a strong 1.11%, the Dow in gold FELL 1.48% to 12.078 oz (G$249.67 gold dollars). Dow in silver fell even more, 2.91%, down 23.22 oz to 775.26 oz. Both indicators have established a sharp four-day downtrend. Y'all take this home: they are falling in the face of a strongly rising stock market.
Lest I forget, the breakout in interest rates has probably ended its rally for a while. The yield on the 10 year treasury note rose nearly to its 6 year downtrend line, though, before it stopped for breath. My guess is that rising interest rates gave the Nice Government Men the nervous fantods and severe digestive tract distress.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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.
Subscribe to:
Posts (Atom)