Thursday, March 13, 2014

Gold Price Needs to Clear $1,375, Looks Very Strong

Gold Price Close Today : 1372.20
Change : 1.90 or 0.14%

Silver Price Close Today : 21.169
Change : -0.159 or -0.75%

Gold Silver Ratio Today : 64.821
Change : 0.572 or 0.89%

Silver Gold Ratio Today : 0.01543
Change : -0.000137 or -0.88%

Platinum Price Close Today : 1478.80
Change : 3.10 or 0.21%

Palladium Price Close Today : 778.75
Change : 1.80 or 0.23%

S&P 500 : 1,846.34
Change : -21.86 or -1.17%

Dow In GOLD$ : $242.68
Change : $ -3.82 or -1.55%

Dow in GOLD oz : 11.739
Change : -0.185 or -1.55%

Dow in SILVER oz : 760.97
Change : -5.17 or -0.67%

Dow Industrial : 16,108.89
Change : -231.19 or -1.41%

US Dollar Index : 79.610
Change : 0.030 or 0.04%

The GOLD PRICE climbed only $1.90 to $1,372.20; silver lost 15.9 cents to 2116.9c.

Gold needs to clear $1,375, looks very strong.

The SILVER PRICE broke through its post-February downtrend line today to a new high for the move, but then collapsed and closed lower, below its 200 DMA. Really a lousy performance and first step of a key reversal, but that must be completed by a lower close tomorrow.

The Ukrainian crisis heated up today and money ran for the exits and a safe haven. US dollar index Tanked overnight, hitting a low at 79.28, but over the day traded up to close up two tiny basis points to 79.61. Those Nice Government Men had a close shave today.

Money ran out of the Euro, too, in a nasty one day turn around that probably marks the first step of a key reversal. Euro hit a new high for the move at $1.3958, then sank in one Brobdingnagian step to a low at $1.3845. Closed lower than yesterday, down 0.27% at $1.3868. Another low tomorrow cinches a key reversal downward.

Yen got the safe haven (if a bit radioactive) bid. Rose as fast as the euro plunged, up 0.94% to 98.26 cents/Y100. When trading seems so evidently motivated by crisis, it's a tough question whether any of the gains or losses will stick longer than the crisis' lifespan.

Money ran from stocks today, too. O, WEH! Dow fell 231.19 (1.41%) to 16,108.89. Speak to me, O Eyes, is that true? Yes, below the 20 Dma (16,329.99) and the 50 DMA (16,158.46). This is a grievous, deep wound and will probably continue tomorrow.

S&P was nearly as bad, down 21.86 (1.17%) and below the 20 DMA but not the 50 (1,829).

Dow in metals plummeted. DiS ended down 0.74% to 760.75 oz, touching the 20DMA. Dow in Gold tanked, down 1.79% to 11.74 oz AND below the 200 DMA (12.02 oz). A portentous break.

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.