Gold Price Close Today : 1345.20
Change : -6.80 or -0.50%
Silver Price Close Today : 22.452
Change : -0.046 or -0.20%
Gold Silver Ratio Today : 59.914
Change : -0.180 or -0.30%
Silver Gold Ratio Today : 0.01669
Change : 0.000050 or 0.30%
Platinum Price Close Today : 1459.10
Change : -11.00 or -0.75%
Palladium Price Close Today : 746.05
Change : -3.40 or -0.45%
S&P 500 : 1,771.95
Change : 984.00 or 124.88%
Dow In GOLD$ : $240.96
Change : $ 2.92 or 1.22%
Dow in GOLD oz : 11.656
Change : 0.141 or 1.22%
Dow in SILVER oz : 698.39
Change : 6.38 or 0.92%
Dow Industrial : 15,680.35
Change : 111.42 or 0.72%
US Dollar Index : 79.631
Change : 0.287 or 0.36%
Silver and GOLD PRICES are languishing. Well, maybe the NGM have them languishing, since the Nice Government Men could hardly want silver and gold busting the roof when they announce they mean to keep on depreciating the dollar. The uptrend in the SILVER and GOLD PRICES that began 16 October remains in force.
Those blasted Federal Open Market Committee meetings cast a pall over everything. Today stocks shot up on the theory that the FOMC tomorrow will announce that it's buying more monetary liquor for the party, i.e., not slowing down Quantitative Easing. This, they believe, will work wonders for the stock market.
Anyhow, we are back to the proverb, "Buy the rumor, sell the news." Tomorrow comes the "news" and that may crack the stock market's back for this short term move.
Dow Jones Industrial Average made a new high today at 15,680.35 vs. the 18 September high at 15,676.94. Hubba-hubba. Dow rose 111.42 or 0.72%. S&P500 rose 9.84 (0.5%) to 1,771.95. It has risen 9 of the last 10 days.
Folks, I'm nothing but a natural born fool from Tennessee who only wears shoes half the year, but even I know that this is NOT normal and will not go on forever. This doesn't even take into consideration that the whole stock market is floating on a massive wave of newly created money. But shucks! Who am I, hick and ridge-runner, to put my conclusions up against the opinion of hundreds of shark-skin suit and pointy-toe shoe wearing Wall Streeters who hawk stocks for a living? Why, they're bound to be objective, right? After all, they're government regulated!
Dow in gold and Dow in silver rose a little today. DiG rose 1.22% to 11.656 oz (G$240.91 gold dollars). DiS added 6.38 oz (0.92%) to 698.39. Both remain comfortably within their downtrends, although both rose slightly above their 20 day moving averages today.
Do y'all ever think about what a sham, Potemkin world y'all live in? Everything is manipulated -- markets, media, politics -- to create an illusion of stability, prosperity, and participatory democracy. Do any of y'all really believe that hogwash? Talk is getting around on the Internet about the "Mystery Seller" coming in to the light trading hours of silver and gold futures selling two thousand or more contracts at a lick. No profit- maximizing seller in his right mind would do that. Therefore, the finger points to? Well, who has a motive to deceive?
US dollar index has been gaining this week. This is the sort of move that drives the rational mind to gibber and drool. All the news expected from the FOMC is that they will continue to create $85 billion of new money a month, which can only sepreciate the dollar, and in the teeth of that the dollar RISES? Well, it did. 28.7 basis points (0.37%) today to 79.631. Y'all can buy them nasty dollars if you want, but you're just picking your own pocket. Dollar strength is almost as enduring as Hollywood chastity.
Continuing the offense against reason, the Euro fell 0.31% today to $1.3744, obviously expecting dollar strength -- from alien tourists, I suppose. Yen dropped 0.56% to 101.85 cents/Y100, for what reason I haven't a clue. I've stopped trying to parse why the Japanese do anything. At the rate their population is declining, who knows how long the yen will continue to be traded. Various reports say more adult diapers are being sold than children's
in Japan. What does that mean?
I've already voiced my suspicions as to why silver and gold have slacked off this week. Today silver pared off 4.6 cents to 2245.2 while gold lost $6.80 to $1,345.20.
That takes silver barely below its 2252c 50 DMA. I don't like that, but it's a near thing. MACD, RSI, and Rate of Change are all positive for silver. Ditto for gold, but its 50 DMA stands at $1,342.30.
I reckon we simply have to endure this until the silly FOMC cloud passes.
Tonight I'll appear on a webinar with Jason Matyas, who is working on the documentary, "Beyond Off the Grid." At http://www.beyondoffgrid.com/webinars/how-to-build-your-local-economy-webinar/ you can sign up for the webinar. Starts at 8:00 Central time. We'll be talking about why a US government default is inevitable, and how to rebuild your local economy.
Or, y'all could wax cultural and watch rasslin' instead.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
© 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 or 18 ounces of silver. or 18 ounces of silver. US $ and 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.