Gold Price Close Today : 1290.10
Change : 15.30 or 1.20%
Silver Price Close Today : 20.143
Change : 0.044 or 0.22%
Gold Silver Ratio Today : 64.047
Change : 0.621 or 0.98%
Silver Gold Ratio Today : 0.01561
Change : -0.000153 or -0.97%
Platinum Price Close Today : 1386.20
Change : 1.90 or 0.14%
Palladium Price Close Today : 716.15
Change : -0.40 or -0.06%
S&P 500 : 1,819.75
Change : 19.91 or 1.11%
Dow In GOLD$ : $256.29
Change : $ 0.05 or 0.02%
Dow in GOLD oz : 12.398
Change : 0.003 or 0.02%
Dow in SILVER oz : 794.06
Change : 7.86 or 1.00%
Dow Industrial : 15,994.77
Change : 192.98 or 1.22%
US Dollar Index : 80.970
Change : -0.110 or -0.14%
I was pretty proud of the GOLD PRICE today, rising $15.30 (1.2%) to $1,290.10 and the next resistance area. Time after time since last June this $1,290 level has played support/resistance. Since the gold price after much stubborn labor broke through the December close ($1,267.50) I expect it to churn and chew through this barrier, too. Might take more than one try, but as long as it doesn't fall back below $1,267.50 'twill be all right.
The SILVER PRICE inched up only 4.4 cents (0.22%) to 2014.3 c. About all you can say is, At least it was up. Silver has not yet conquered 2050c. Yes, it is headed up, pointed the right direction, but has to wax peppier.
Silver and GOLD PRICES have not looked more hopeful for the last year. I've been buying all the way up, and on this rally I haven't been continually beaten up.
Yellow Janet spoke before congress today and said she would do just like Ben the Criminal before her. Stock markets liked that and rose. They want more of a steady stream of new money.
The Dow leapt 192.98 (1.22%) to 15,994.77. Not to be outdone, the S&P500 bounded 19.91 (1.11%) to 1,819.75. Those jumps took both indices above their 20 day moving averages (15,956 and 1802.15), and the S&P500 above its 50 DMA (1,809.55). MACD flashed a BUY signal, which points toward higher prices still.
Sorry, it's still not a train I want to ride. Rails have been dismantled up ahead, and there's a bridge out.
Dow in gold barely rose, up 0.04% to 12.40 oz, nothing to disturb the sharp downtrend. Dow in Silver edged up 0.73% to 793.67 oz. Trend undisturbed.
US dollar index was surprisingly unruffled by Yellen's "speech". It rose 2 basis points to 80.72, just enough to climb above its 50 DMA (80.70). Mercy, Nice Government Men! Is that the best you can do? Come on, y'all have a tape to paint here, global currency hegemony to keep up! For heaven's sake, this isn't the Soviet Union.
Euro climbed to the uptrend line it fall through in January, above its 50 DMA (1.3649), looked around, and keeled over. Closed down 0.05% at $1.3638. I've tried and tried, but I just can't get excited about the euro. It's almost as much fun as sitting in a bus station.
Yen gave up 0.37% to 97.46 cents/Y100. Still in an uptrend. Apparently the Japanese Nice Government Men are sleeping at the switch, too.
The 10 year treasury note yield rose today 1.53% to 2.719%. This brings it back from a visit to its 200 day moving average below, and validates again the bottom of a flat trading range. Just a skootch more will turn it up positively.
My beloved friend and editor of my At Home In Dogwood Mudhole volumes, Fiona McNeill, passed away today from cancer. She leaves a husband and six year old son and a horde of people who loved her. Please pray for her husband Ed and son Alex. "The Lord gave, the Lord hath taken away -- blessed be the name of the Lord."
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
© 2014, 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.