Tuesday, March 04, 2014

The Gold Price Dropped 0.91 Percent to Close at $1,337.80

Gold Price Close Today : 1337.80
Change : -12.30 or -0.91%

Silver Price Close Today : 21.188
Change : -0.260 or -1.21%

Gold Silver Ratio Today : 63.140
Change : 0.192 or 0.30%

Silver Gold Ratio Today : 0.01584
Change : -0.000048 or -0.30%

Platinum Price Close Today : 1463.50
Change : 3.40 or 0.23%

Palladium Price Close Today : 763.70
Change : 13.90 or 1.85%

S&P 500 : 1,873.91
Change : 28.18 or 1.53%

Dow In GOLD$ : $253.35
Change : $ 5.80 or 2.34%

Dow in GOLD oz : 12.256
Change : 0.280 or 2.34%

Dow in SILVER oz : 773.83
Change : 20.00 or 2.65%

Dow Industrial : 16,395.88
Change : 227.85 or 1.41%

US Dollar Index : 80.170
Change : 0.070 or 0.09%

As I feared yesterday, the GOLD PRICE did not retain its war-inspired gain. It held on to part of it, but dropped $12.30 (0.91%) to $1,337.80. Silver lost 26 cents (1.2%) to 2118.8c.

Intraday gold retraced all its gains yesterday but in the end closed off the day's lows. Believe it or not, the GOLD PRICE has quite a ways to fall just to intersect its rising trend line, now at $1,303.66. It could fall to the neckline where it broke out, now about $1,280, and make only a routine correction in a rally.

The SILVER PRICE kissed its 200 DMA (2102c) but climbed above that to close at 2118.8c. If it minds to keep rising, a likely place for silver to stop first would be 2075c, the upper boundary of the range it broke through on 14 February. Silver has more humiliating work to do below, as does gold.

Platinum rose $3.40 today to $1,463.50 while palladium jumped $13.90 to $763.90. Why? Because almost all the platinum and palladium in the world comes from just two places, Russia and southern Africa. About 75% of the platinum comes from southern Africa and 25% from Russia, while 25% of the palladium comes from Africa and 75% from Russia.

The world didn't end last night so the stock touts crawled out and went to work with re-doubled efficiency. Dow made back all yesterday's losses and then some. Closed up 227.85 (1.41%) to 16,395.88. S&P500 outdid the Dow, rising 28.18 (1.53%) to another new all-time high at 1,873.91. The non-confirmation continues. Nasdaq Composite, Nasdaq 100, Russell 2000, and Wilshire 5000 all made new highs but the Dow did not.

Stocks' big jump knocked the Dow in metals back. After touching its 200 Day Moving Average headed down yesterday, the Dow in Gold today touched its 20 DMA headed up. Probably about to see a correction of that long fall from December. DiG closed up 2.35% at 12.25 oz (G$253.23 gold dollars).

Dow in silver crossed above its 20 DMA (764.93). Rose 2.47% to 772.59 oz. (S$998.95 silver dollars). Here, too, expect an upward correction.

The US Dollar Index barely improved its gains by rising 7 basis points (0.08%). Nothing inspiring here and it remains in a downtrend since 1 February, which has only traded in the same range prevailing since September. The euro reclaimed yesterday's losses during the day, but ingloriously lost all that, closing up 0.01% (Can y'all see that? Maybe I've got a hair in my eye.) to $1.3736. Long as trouble brews in Ukraine, euro will have a hard row to hoe. Somebody shot the yen with a silver bullet today. It dropped -- gapped down -- 0.81% to 97.79 cents/Y100.

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.