Monday, November 18, 2013

Silver and Gold Prices Closed Lower with the Gold Price Closing at $1,272.20

Gold Price Close Today : 1272.20
Change : -15.10 or -1.17%

Silver Price Close Today : 20.349
Change : -0.368 or -1.78%

Gold Silver Ratio Today : 62.519
Change : 0.382 or 0.61%

Silver Gold Ratio Today : 0.01600
Change : -0.000098 or -0.61%

Platinum Price Close Today : 1409.20
Change : -27.90 or -1.94%

Palladium Price Close Today : 716.40
Change : -15.90 or -2.17%

S&P 500 : 1,791.53
Change : -6.65 or -0.37%

Dow In GOLD$ : $259.59
Change : $ 3.27 or 1.28%

Dow in GOLD oz : 12.558
Change : 0.158 or 1.28%

Dow in SILVER oz : 785.10
Change : 14.64 or 1.90%

Dow Industrial : 15,976.02
Change : 14.32 or 0.09%

US Dollar Index : 80.818
Change : -0.210 or -0.26%

If y'all are expecting some big revelation about the silver and GOLD PRICES from me today, I reckon y'all will be disappointed. They just didn't DO anything to change the situation.

GOLD PRICE lost $15.10 (1.2%) and wound up at $1,272.20. Silver yielded 36.8 cents (1.8%) to close Comex at 2034.9c.

Where does that leave them? Gold remains above the uptrend line from the June low, but I mean barely. SILVER PRICE is below that uptrend line but above the top-of-the shoulders line of what I believe is an upside-down head and shoulders. Silver's RSI is about to reach "I am REALLY oversold" territory instead of merely "oversold." MACD points down, rate of change is negative. Silver is below its 200 (2351c), 50 (2186c), and 20 DMAs (2175c).

I keep asking myself why it doesn't fall further -- what's holding it up? Answer: somebody is buying, and not many selling. But one way or the other it will pull away from this place, because too much instability and tension lies here.

The GOLD PRICE also stands below all its moving averages, MACD and RoC are negative, RSI is not terribly oversold. What I don't see is some evidence of an imminent reversal. GOLD/SILVER RATIO climbed today to a new high for the move, 62.519. The upmove displays two gaps, so today might mark exhaustion.

Well, sufficient for the day is the trouble thereof. I've been doing this long enough to know that some days you win, and some you lose. Sometimes you get hit in the mouth, and some days you get gold fillings. (that's a touch of my dental philosophy). Just be patient -- the trend is our friend, and the primary trend still points up.

Y'all, I am having a great time hearing what people have to say about At Home in Dogwood Mudhole, Volume 1 and Volume 2. It's enough fun that not even markets can depress me today.

Today probably marked at least a short-term top in stocks. Dow poked its nose over 16,000 (16,030.28) but its nose started bleeding. Dow closed at a new high, but backed off. Ended up at 14.32 (0.9%) at 15,976.02. S&P500 lost 6.65 (0.37%) to 1,791.53. This lower close came after a new intraday high, so is the first half of a key reversal. Fact is, the whole day had that key reversal feel, where optimism suddenly crumbles and flees in panic.

None of that says this is THE top for stocks. It could be, but probably only begins a correction, with the ultimate top in early 2014.

Oddly enough, although the Dow in Gold made a new top by a tiny bit, 1253 against June's 12.514 oz, the Dow in Silver closed at 783.52 oz, 4% from its June high at 816.77 oz. That screams "Non-confirmation!" Watching.

Y'all know I barely trust my own judgment on the US dollar. Oh, I don't mean my long term judgment that the Fed will keep on gutting the dollar until nothing's left. I mean that I find the whole crooked setup so hateful that it clouds my judgment short term. So I read what other analysts have to say, and find that some are expecting a big dollar rally, while others look for the dollar index at 40 or lower. So I reckon I'll have to fall back on myself.

Dollar looked sick today closing down 7.2 basis points (0.9%) to 80.734, falling away from 81 and the 200 day moving average. Dollar hovereth even now right above its 50 DMA at 80.46, and it broke today the little support it had built around 80.90. If this is not the wash-out day that marks the low, the dollar might have a troublesome week. "There will be issues," as they like to say in Washington.

The euro just won't stay down. Rose today 0.7% to $1.3507, but has formed a bearish rising wedge that points to a downside break out. Still, it punched into its 50 DMA today ($1.3535). I just can't see the euro as a dollar competitor. I mean, the crooks and looters in the Fed and in the US Treasury are genuine world class criminals with over 70 years of experience. What are Draghi and the ECB and the regulation- smothered EU compared to experienced global vandals? Newcomers. Amateurs.

Yen rose a little in its ongoing agonizing death. Closed 100.03 cents/Y100, up 0.17%.

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.