Monday, August 19, 2013

Gold Price Closed at $1,366.20

Gold Price Close Today : 1366.20
Change : -5.50 or -0.40%

Silver Price Close Today : 23.161
Change : -0.156 or -0.67%

Gold Silver Ratio Today : 58.987
Change : 0.159 or 0.27%

Silver Gold Ratio Today : 0.01695
Change : -0.000046 or -0.27%

Platinum Price Close Today : 1508.10
Change : -18.60 or -1.22%

Palladium Price Close Today : 752.00
Change : -10.15 or -1.33%

S&P 500 : 1,646.06
Change : -9.72 or -0.59%

Dow In GOLD$ : $227.13
Change : $ (0.16) or -0.07%

Dow in GOLD oz : 10.987
Change : -0.008 or -0.07%

Dow in SILVER oz : 648.10
Change : 1.30 or 0.20%

Dow Industrial : 15,010.74
Change : -70.73 or -0.47%

US Dollar Index : 81.251
Change : -0.055 or -0.07%

As I observed Friday, GOLD PRICE has it's feet tangled in the snares and nets of $1,350 resistance. It gave up $5.50 today and ended at $1,366.20. The SILVER PRICE lost 15.6 cents to close Comex at 2316.1c.

Daily charts were simply flat corrective patterns, which means both are only taking a nap before continuing higher. Y'all just ponder what happens when the gold price finally wrestles through this resistance and starts running. Y'all may see that this week.

The long correction hath ended. Buy silver and gold now.

I listen bemused to people who threaten and bluster about how they will deal with the tyranny engulfing us, darkly hinting that since the ballot box has failed they will reach for the bullet box -- the last resort. But why would they use the last resort if they haven't used the first, manly opposing tyranny in the public forum and in courts of law? And if they won't risk their ease for liberty, how will they risk their lives?


Stocks have hit and fallen through their 50 DMAs but the bleeding just won't stop.

Dow lost 70.73 (0.47%) today to end barely hovering over 15,000 at 15,010.74. S&P500 lost 9.77 (0.59%) to 1,646.06. I'm having trouble figuring out a reason they shouldn't drop further.

Dow in gold ended almost unchanged, down 0.7% at 10.987 oz (G$227.13 gold dollars). Dow in silver rose a microscopic 1.3 oz or 0.2% to 648.10 oz. Not much further now and both will drop beneath that long term trend line. O, yes!

Currencies were all flat today -- out of gas. US dollar index is barely hanging on above major support, ended at 81.251, down 5.5 basis points. Yen looks rotten at 102.51 cents per Y100 (up 0.03%), and the euro is waiting for gravity to grab hold at $1.3338, up 0.6%.

On 19 August 1934 38 million Germans vote to make Adolf Hitler the successor to President von Hindenburg. Events like this pop to mind when I hear all the blathering about "democracy" and "majority rule." Democracies always end by voting tyrants into power.

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

- Franklin Sanders, The Moneychanger
10:00am-5:00pm CST, Monday-Friday

© 2013, The Moneychanger. May not be republished in any form, including electronically, without our express permission.

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.

WARNING AND DISCLAIMER. Be advised and warned:

Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.

NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.

NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.

NOR do I recommend buying gold and silver on margin or with debt.

What DO I recommend? Physical gold and silver coins and bars in your own hands.

One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't.