Gold Price Close Today : 1,216.10
Gold Price Close 20-Dec-13 : 1,205.10
Change : 11.00 or 0.9%
Silver Price Close Today : 20.013
Silver Price Close 20-Dec-13 : 19.418
Change : 0.595 or 3.1%
Gold Silver Ratio Today : 60.766
Gold Silver Ratio 20-Dec-13 : 62.061
Change : -1.295 or -2.1%
Silver Gold Ratio : 0.01646
Silver Gold Ratio 20-Dec-13 : 0.01611
Change : 0.000 or 2.1%
Dow in Gold Dollars : $ 280.11
Dow in Gold Dollars 20-Dec-13 : $ 278.25
Change : 1.86 or 0.7%
Dow in Gold Ounces : 13.550
Dow in Gold Ounces 20-Dec-13 : 13.460
Change : 0.09 or 0.7%
Dow in Silver Ounces : 823.39
Dow in Silver Ounces 20-Dec-13 : 835.36
Change : -11.98 or -1.4%
Dow Industrial : 16,478.41
Dow Industrial 20-Dec-13 : 16,221.08
Change : 257.33 or 1.6%
S&P 500 : 1,841.40
S&P 500 20-Dec-13 : 1,818.52
Change : 22.88 or 1.3%
US Dollar Index : 80.500
US Dollar Index 20-Dec-13 : 80.710
Change : -0.21 or -0.3%
Platinum Price Close Today : 1,376.00
Platinum Price Close 20-Dec-13 : 1,331.90
Change : 44.10 or 3.3%
Palladium Price Close Today : 711.05
Palladium Price Close 20-Dec-13 : 697.85
Change : 13.20 or 1.9%
The GOLD PRICE rose again today, $2.00 to $1,216.10. The SILVER PRICE rose 12.8 cents to 2001.3c.
Now behold and consider. In June the gold price intraday low was 1179.40 but it never closed below $1,200. Silver's June intraday low was 1817c, but its low close was 1853.3c.
In December's trading silver has made intraday lows at 1889c (early in the month) and at 1910c (six trading days ago). Low close has been 1914.3c.
The GOLD PRICE December trading showed an early intraday low at $1,210.10 with a low 6 days ago at $1,186. Low close has been $1,195.40 with two closes below $1,200.
All that is enough to paint a double bottom on the chart, but that needs confirming, like gold's MACD gave a buy signal crossover today. Silver's gave one on the 23rd. Rate of change is climbing out of the hole for both.
But of course the ultimate confirmation is HIGHER PRICE. Silver must climb above its last high at 20.48, then 2100c resistance, and the last peak in October at 2309c.
The gold price needs to scale its way clean to $1,267.50 December's high, and beyond. It catches my eye that both Platinum and Palladium have jumped sharply and are at or near their 20 day moving averages.
Silver and gold prices are lined up better than I've seen them in a long time. That may be an upside down head and shoulders forming in gold and a double bottom in silver. Confirmation! That's what we need. Wait! Is this some of it? HUI and XAU gold stock indices have also turned up.
Let's see what happens when we return to full markets after the New Year holiday.
Here's a turn around: stronger week for metals than for stocks, although the Dow today broke a six day streak of new highs. US dollar lost ground as it continues vacillating between heaven and hell.
Both the Dow and the S&P 500 painted the first half of a key reversal -- new high for the move with a lower close. To complete the reversal that must be followed tomorrow by lower closes. After a six day streak of new highs, that's not hard to imagine.
What interests me more is this: the Dow in Gold and Dow in Silver are both FALLING against that backdrop of strong stocks. A few days ago they made new highs, 13.629 oz and 841.56 oz. Today they stand at 13.58 oz and 820.43 oz, and silver is hovering right above its 20 day moving average (816.10 oz). MACD has flashed a sell signal in DiS but not yet in DiG. Rate of Change in both have turned positive.
Once again I remind y'all, I watch these sensitive indicators to pinpoint a turn in silver and gold early. They turned down this week, but will they confirm?
US DOLLAR INDEX fell sharply today, 14 basis points (0.17%) to 80.50. Cut clean through its 20 and 50 DMAs (80.41 and 80.42) at one point and visited a low of 79.82, but recovered to close down only those 14 basis points. Maybe it was a light market today and the Europeans came back from the holiday full of Christmas cheer, but in any event, why can't the dollar break through its downtrend line. Euro managed a huge gain, 0.42% to $1.3749, erasing the losses of the past three weeks. Could not hold at the $1.3800+ downtrend line, but touched it. Yen made a new low for the move at 95.10, down 0.35%.
Y'all enjoy your weekend!
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.