Monday, December 23, 2013

The Gold Price Gave Up $6.70 Ending at $1,198.40

Gold Price Close Today : 1198.40
Change : -6.70 or -0.56%

Silver Price Close Today : 19.378
Change : -0.040 or -0.21%

Gold Silver Ratio Today : 61.843
Change : -0.218 or -0.35%

Silver Gold Ratio Today : 0.01617
Change : 0.000057 or 0.35%

Platinum Price Close Today : 1327.40
Change : -4.80 or -0.36%

Palladium Price Close Today : 694.75
Change : -3.10 or -0.44%

S&P 500 : 1,827.99
Change : 9.67 or 0.53%

Dow In GOLD$ : $281.07
Change : $ 2.28 or 0.82%

Dow in GOLD oz : 13.597
Change : 0.110 or 0.82%

Dow in SILVER oz : 840.88
Change : 3.90 or 0.47%

Dow Industrial : 16,294.61
Change : 42.00 or 0.26%

US Dollar Index : 80.570
Change : -0.140 or -0.17%

The GOLD PRICE gave up $6.70 to end Comex at $1,198.40. Once again, it giveth no signal, telleth no tale.

The SILVER PRICE lost 4 cents to 1937.8. Low came at 1926c. this changes nothing on the chart but stays above recent lows and finished the day after the Comex close 4 cents higher. No signals there.

Sometime here shortly both silver and GOLD PRICE will make a bottom and make it clear. Meantime, we watch.

Interesting is the weakness in the GOLD/SILVER RATIO, which today closed down from Friday's 62.061 to 61.843. That's bullish for silver and gold. Also, I would still swap GOLD for silver at this ratio, targeting a drop to 30:1 and roughly doubling your ounces.

Sorry, I'm really rushing today, so this will be short. Nothing much happened anyway, nor will until after Christmas.

Stocks made new all time highs (ho-hum). Dow rose 73.47 (0.45%) to 16,294.61. S&P climbed 9.67 (0.53%) to 1,827.99. Higher prices coming.

US dollar index still cannot make up its mind whether it wants to rise or fall. Dropped 14 basis points to 80.57 (down 0.17%). Dollar's swoon sent the euro up 0.18% to $1.3698 while the yen stayed flat at 96.09 cents/Y100.

On 23 December 1913 the Federal Reserve Act was passed after most of congress had gone home. It created the greatest financial tyranny and tapeworm the world has ever known. Remember that without central banks world wars and socialism would be impossible: taxpayers and bond markets would rebel before they got too far.

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.