Gold Price Close Today : 1271.10
Change : -9.90 or -0.77%
Silver Price Close Today : 20.768
Change : -0.504 or -2.37%
Gold Silver Ratio Today : 61.205
Change : 0.985 or 1.64%
Silver Gold Ratio Today : 0.01634
Change : -0.000267 or -1.61%
Platinum Price Close Today : 1437.80
Change : 7.20 or 0.50%
Palladium Price Close Today : 741.85
Change : -12.20 or -1.62%
S&P 500 : 1,767.69
Change : -4.20 or -0.24%
Dow In GOLD$ : $256.15
Change : $ 1.46 or 0.57%
Dow in GOLD oz : 12.391
Change : 0.070 or 0.57%
Dow in SILVER oz : 758.41
Change : 16.44 or 2.22%
Dow Industrial : 15,750.67
Change : -32.43 or -0.21%
US Dollar Index : 81.090
Change : 0.016 or 0.02%
What do we know? Both silver and GOLD PRICES have been trending down since mid-August. They made a break for the old highs in November, and failed wretchedly. Not enough buyers.
I've been watching the uptrend on both the silver and gold price charts. Today the GOLD PRICE lost $9.90 (0.8%) to close at $1,271.10, smack on that uptrend line. The SILVER PRICE pierced the line and closed below it. About the only thing that might create optimism is that both have been falling four days, and today was the largest fall for silver. That argues for at least a small bounce.
I've thought over this some much I feel like I've got steel ball-bearings bouncing around in my empty skull. Here's what it boils down to: if simply printing new money can really float the stock market up forever and hold together an economy riddled with debt-induced mal-investment WHILE the dollar RISES and interest rates are kept near zero, then the Elite and their central bankers have repealed the economic law of gravity, and I don't know sic 'em from come here. In fact, I'm even stupider than I thought I was.
Something in my nature screams and wails like a banshee at the thought that Our Masters have repealed, nay, co-opted reality to their will -- call it my unshakeable, foundational conviction that sooner or later justice will be done, that reality will have its revenge. If that's not so, then I'll just lie down here in this ditch by the side of the road and let y'all cover me up. I'll go quietly.
In the meantime, I'm gonna stay in the boat I came in. I'll keep taking this beating a little longer, because I know (if any history teaches anything) that this bubble will blow up, and that silver and gold prices will begin rallying again.
I'm Scotch-Irish. We put up with the English for 100s of years, then Indians, then yankees, hookworm, pellagra, boll weevils, and sharecropping landlords, and we're still here. If we can't beat Our Masters any other way, we'lll outlast 'em.
Stocks stumbled today. Dow lost 32.43 (0.21% to 15,750.67. S&P500 lost 0.24% (4.2) to 1,767.69. If they can go higher from here, they'll go a lot higher. However, it seems more likely from the charts that a correction lies before them.
The Dow in Silver is literally at the upper limit of its downtrend line, Dow in Gold slightly above the same. If they don't turn down soon, they will be signaling more pain for silver and gold investors.
US dollar index gained a huge 1.6 basis points today and ended at 81.09. Stalled here below 81.50. Whole world it seems, is expecting a dollar rally. Maybe so.
Yen is flat lining just above 100 cents. Closed today down 0.47% to 100.34. Euro rose today to fill a gap, up 0.21% to $1.3435.
Just hang on to your gold and silver. Be calm. Keep your eyes on the horizon, not on the shell game right in front of you. The end of this correction is near.
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.