Thursday, February 13, 2014

The Gold Price Pushed Through it's Resistance Up $5.10 to $1,300.40

Gold Price Close Today : 1300.40
Change : 5.10 or 0.39%

Silver Price Close Today : 20.385
Change : 0.054 or 0.27%

Gold Silver Ratio Today : 63.792
Change : 0.081 or 0.13%

Silver Gold Ratio Today : 0.01568
Change : -0.000020 or -0.13%

Platinum Price Close Today : 1415.00
Change : 9.30 or 0.66%

Palladium Price Close Today : 730.90
Change : 2.05 or 0.28%

S&P 500 : 1,829.83
Change : 10.57 or 0.58%

Dow In GOLD$ : $254.78
Change : $ 0.01 or 0.00%

Dow in GOLD oz : 12.325
Change : 0.001 or 0.00%

Dow in SILVER oz : 786.24
Change : 1.04 or 0.13%

Dow Industrial : 16,027.60
Change : 63.65 or 0.40%

US Dollar Index : 80.360
Change : -0.400 or -0.50%

The GOLD PRICE pushed through the $1,290 - $1,295 resistance at $1,300.40, up $5.10 and another $3 in the aftermarket. O, there's still some resistance between here and the 200 DMA at $1,310.49, but shorts will be having deep and gloomy periods of silent meditation when the gold price crosses that line. Might even grab their wastebaskets for a genteel puke.

The SILVER PRICE rose 5.4 cents to 2038.5c, driving us crazy as we wait for it to cross that 2050c line and begin rising in earnest.

Today brings silver plumb slap up against the downtrend line from April 2013. Mercy, the 20 day moving average hangs in the sky only a few cents higher at 2114c. I'll be mildly surprised if silver closeth not above 2050c tomorrow. Shorts will be pulling out before the weekend and that ought to give it push enough to break through. High today was 2047c, nearly there.

While a remote chance remains that silver and GOLD PRICES might make one last spike down to lower lows, that chance dims with each rising day. I've been buying since end-December and expect the rally to carry much higher into the end of February, say, to the $1,360 neighborhood for the gold price. Silver hasn't even got it's motor warmed up yet, but ought to reach 2300c at least, maybe even 2500c if it really gets feverish.

Don't miss this gold and silver train!

Oh, wow. How volatile can it get? On news of weak retail sales today (according to the media, who only lie out of one side of their mouths, the front side) the US dollar index slid 40 basis points (0.5%) to 80.36. That move takes it below the uptrend line that had caught the dollar index on ever downmove since end-November.

Here's what makes currency markets impossible to parse: the euro, which gapped down fatally yesterday, gapped up today, although it is still blocked by that long term uptrend line overhead. Currency markets are scared to death when they're this jumpy.

Yen rose 0.3% to 97.84 cents/Y100, so may be resuming its uptrend.

Today offers a perfect example why I wouldn't trade currencies. No fundamental change whatever occurred today in the value of these currencies, and truly, the euro is in far worse shape, along with European banks, than the US dollar. Besides, that, ALL fiat currencies are manipulated by central banks and government. ALL, without exception.

Me, I had rather escape from their power altogether by swapping fiat currency for silver and gold, while those fiat currency still buy something.

Stocks struggled to add a few points today. Dow grabbed 63.65 (0.4%) to close at 16,027.59, a truly beautiful number by the tape painters, above the morale-boosting 16,000 mark. Is it real, or Memorex? Who knows, when governments meddle now in all markets? S&P500 added 10.57 (0.58%) to 1,829.83. Moving Average Convergence Divergence (MACD) indicator is positive, so this can run for a while, but it is a doomed undertaking. Later this year there will be weeping and gnashing of teeth, plus a large dose of wailing, whining, and grieving.

For all stocks bounced, the Dow in Gold and Dow in Silver still fell. DiG edged down 0.26% to 12.33 oz while the DiS inched lower by 0.46% to 785.86 oz. Trend and momentum remains earthward, held in a headlock by gravity.

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.v>