Wednesday, August 28, 2013

Gold Price Dropped $1.60 Today Closing at $1,419

Gold Price Close Today : 1419.00
Change : -1.60 or -0.11%

Silver Price Close Today : 24.391
Change : -0.260 or -1.05%

Gold Silver Ratio Today : 58.177
Change : 0.549 or 0.95%

Silver Gold Ratio Today : 0.01719
Change : -0.000164 or -0.94%

Platinum Price Close Today : 1539.20
Change : 8.00 or 0.52%

Palladium Price Close Today : 746.05
Change : -3.10 or -0.41%

S&P 500 : 1,634.96
Change : 4.48 or 0.27%

Dow In GOLD$ : $215.96
Change : $ 0.95 or 0.44%

Dow in GOLD oz : 10.447
Change : 0.046 or 0.44%

Dow in SILVER oz : 607.79
Change : 8.37 or 1.40%

Dow Industrial : 14,824.51
Change : 48.38 or 0.33%

US Dollar Index : 81.415
Change : 0.248 or 0.31%

Today's course for the silver and GOLD PRICES remind me of that last pause under $1,380, just moving sideways, waiting to rise more.

The GOLD PRICE dropped $1.60 (0.1%) to $1,419.00 while the SILVER PRICE gave back 26 cents (1%) to 2439.10. Silver's high hit 2512c, gold's $1,427.65.

OR, if perhaps silver and GOLD PRICES have completed this move up, they might enter now a shallow correction. Say gold backed off 25% of its recent rally, that might take it back to $1,370. If silver lost 38% of its gains off the 1817c low, the would take it back to 2250c. Of course, if gold breaks through $1,425 tomorrow and silver through 2500c, clearly it's not correcting.

Slightly longer term targets remain $1,550 and 2650c.

Y'all remember all the phony evidence the Bushites floated to justify invading Iraq? I don't know why I'd be a-thinking' of that, onless it might be the present Woof-woof the Obamites are a-barkin' over Syria. Why, hear them tell it that Syrian regime is the worst to come along since the devil hisself. Now why would I think about Roosevelt and how he ordered all those ships into Pearl Harbor after Naval Intelligence had cracked the Japanese Purple Code in September and he knew they planned to attack Pearl Harbor? Or the Tonkin Gulf Incident? How do you spell "false flag operation"?

Of course, only a natural born durned fool from Tennessee would doubt the A'mighty federal government!

Stocks dead-cat bounced today. Dow added 48.38 (0.33%) to end at 14,824.51. S&P500 added 0.27% or 4.48 points to 1,634.96. All by itself, that signifieth nothing.

Dow in gold rose 0.44% to 10.447 oz (G$215.96 gold dollars). Way oversold but falling faster and faster anyway.

Dow in silver gained 8.37 oz (1.40%) to 607.79 oz. Also oversold but showeth ne'er a sign of turning up.

Dollar Index is floundering and flopping. Up 0.32% or 24.8 basis points to 81.415 -- neither hot nor cold. 200 DMA stands above at 81.65, so the dollar index lies a ways from rally mode.

Euro lost 0.38% today to $1,3341 and has now stepped under its 20 DMA, first sign of a downturn. The yen, currency of choice for traders who want to hurt themselves, dropped 0.64% today after gaining 1.51% yesterday. Closed 102.41 cents/Y100.

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.