Gold Price Close Today : 1205.10
Change : 6.70 or 0.56%
Silver Price Close Today : 19.453
Change : 0.075 or 0.39%
Gold Silver Ratio Today : 61.949
Change : 0.106 or 0.17%
Silver Gold Ratio Today : 0.01614
Change : -0.000028 or -0.17%
Platinum Price Close Today : 1336.50
Change : -4.80 or -0.36%
Palladium Price Close Today : 694.55
Change : -3.10 or -0.44%
S&P 500 : 1,827.99
Change : 5.33 or 0.29%
Dow In GOLD$ : $280.59
Change : $ -0.48 or -0.17%
Dow in GOLD oz : 13.574
Change : -0.023 or -0.17%
Dow in SILVER oz : 840.88
Change : -0.01 or 0.00%
Dow Industrial : 16,357.55
Change : 62.94 or 0.39%
US Dollar Index : 80.680
Change : 0.110 or 0.14%
SILVER and GOLD PRICES took back today everything they lost yesterday, which reminds me of a pointless battle in World War I. We've fought this ground before. However, keep your eyes open. I still expect a bottom soon, maybe with another waterfall, or maybe proved by a reversal.
Yesterday I mentioned swapping gold for silver, to take advantage of a drop in the GOLD/SILVER RATIO from 62:1 to 30:1, which is the next move I expect. If you bought gold at higher prices, this swap would have you "selling" gold at a loss, which you may be able to write off your taxes. Warning: Take not my tax advice, as I am clearly no tax adviser. Check with your own tax daddy about that. Anyway, swapping silver for gold and vice versa does not constitute a "like-kind exchange" for tax purposes. But besides any tax considerations, swapping gold for silver now would set you up to profit from that drop I expect in the ratio, probably a couple of years out.
There's hardly any meaning in a pre-holiday market, but I'm sending y'all prices for what they're worth, new highs in the stock market and all.
In my comments yesterday I said that "without central banks, world wars and socialism would be impossible: taxpayers and bond markets would rebel before they got too far." By no means does my denunciation of Big Government socialism constitute an endorsement of Big Government industrial capitalism or fascism (the correct name for the business/government partnership that rules us). None of these resemble in the least the only political and economic state I value: ordered liberty.
Tomorrow, Christmas Day, and Thursday, St. Stephen's Day, our office will be closed and I won't be sending a commentary. Tonight and tomorrow we will be celebrating the Incarnation of Jesus Christ, wherein all our happiness is embodied. In the Incarnation, the incomprehensible God is made comprehensible, our sins are forgiven and we have peace with God, and we have a faithful High Priest who, because he has suffered all we suffer, can have compassion on us. Glory be to God on high, and on earth, peace, good will to men. Alleluia!
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.