Gold Price Close Today : 1273.40
Change : 1.20 or 0.09%
Silver Price Close Today : 20.326
Change : -0.023 or -0.11%
Gold Silver Ratio Today : 62.649
Change : 0.130 or 0.21%
Silver Gold Ratio Today : 0.01596
Change : -0.000033 or -0.21%
Platinum Price Close Today : 1518.10
Change : 8.90 or 0.59%
Palladium Price Close Today : 721.60
Change : 5.20 or 0.73%
S&P 500 : 1,787.87
Change : -3.66 or -0.20%
Dow In GOLD$ : $259.20
Change : $ -0.39 or -0.15%
Dow in GOLD oz : 12.539
Change : -0.019 or -0.15%
Dow in SILVER oz : 785.55
Change : 0.45 or 0.06%
Dow Industrial : 15,967.03
Change : -8.99 or -0.06%
US Dollar Index : 80.674
Change : 0.055 or 0.07%
Silver fell 2.3 cents to 2032.6c while the GOLD PRICE climbed $1.20 to $1,273.40. That was on a 23 cent range for silver and a $7 range on the gold price, dead as a ball-peen hammer.
I'm starting to get suspicious. Markets have a way of slapping you in the back of the head with surprises. What's keeping them up? Both appear to be dead. I have to suspect some big move, up or down, will emerge soon. However, this time of year is often very slow as investors wind down positions toward the Thanksgiving holiday.
No point in chafing. Silver and GOLD PRICES will resolve soon enough, and resolve upward since the bull markets in both are still alive.
Markets were pretty quiet today. Stocks kept on arching in that trajectory from yesterday that suggests a correction has begun. The US dollar index lost more ground, leaving me to doubt to outcome prophesied by the optimists. And silver and gold marked time.
Stocks made tiny moves -- Dow lost 8.99 (0.06%) to 15,967.03 and S&P500 lost 3.66 (0.2%) to 1,787.87 -- but it wasn't the size of the moves that speak. Rather, it was their direction, confirming what looked yesterday like a key reversal in some indices. Stocks are way overdue for a correction. When any market piles up new highs day after day and the optimists run hog wild, the days of the move are numbered, and I don't give two hoots how many "experts" tell me "It's different this time." They always say that, right before a crash.
Dow in Gold and Dow in Silver continue to hang in the balance, the DiG near its June high -- mmmm, with gold much higher but stocks higher, too, and not by a lower gold price -- while the DiS stubbornly refuses to rise that high. DiG closed 12.539 oz, down 0.15% while the DiS gained 0.6% to 785.55 oz. Keep watching them, because that's where we'll see the turn of stocks and the turn of metals first.
If the dollar index is not forming a bullish flag or pennant (a downsloping correction that looks like a flag), then its in trouble. Lost another 5.5 basis points today to 80.675. Euro rose 0.23% to $1.3539 and the Yen fell 0.18% back below 100c to 99.88 cents/Y100.
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.