Wednesday, March 05, 2014

The Gold Price Gained $2.40 and Ended at $1,340.20

Gold Price Close Today : 1340.20
Change : 2.40 or 0.18%

Silver Price Close Today : 21.239
Change : 0.051 or 0.24%

Gold Silver Ratio Today : 63.101
Change : -0.039 or -0.06%

Silver Gold Ratio Today : 0.01585
Change : 0.000010 or 0.06%

Platinum Price Close Today : 1476.00
Change : 12.80 or 0.87%

Palladium Price Close Today : 72.65
Change : 8.95 or 14.05%

S&P 500 : 1,873.81
Change : -0.01 or 0.00%

Dow In GOLD$ : $252.35
Change : $ (1.00) or -0.40%

Dow in GOLD oz : 12.207
Change : -0.049 or -0.40%

Dow in SILVER oz : 770.29
Change : -3.54 or -0.46%

Dow Industrial : 16,360.18
Change : -35.70 or -0.22%

US Dollar Index : 80.140
Change : -0.030 or -0.04%

The GOLD PRICE gained $2.40 and ended at $1,340.20. The SILVER PRICE gained 5.1 cents to close Comex at 2123.9c.

I can't make up my mind any more than silver and GOLD PRICES can how far a correction might go. Gold's MACD is about to signal "sell" and silver's already has. Stochastics are rolling over downward. All that suggests the reaction has started, but tells us nothing about how long or how far it will carry. In any event, almost all the evidence argues that the lows are behind us with the double bottom seen as December ended. Thus the next big move should be up.

Sometimes I wonder why I bother trying to figure all this out. After all, the END is sure. History teaches -- and whales the tar out of those who won't learn -- that fiat money schemes always end catastrophically. Why do Americans think they are the exception? Because we grow such clever central bankers? Because we're so nice? Because we have Dancing with the Stars? None of that changes the iron laws of reality, and the iron law is that creating money out of thin air ends catastrophically.

Now I ain't no more'n a nacheral born fool from Tennessee but when I saw this headline, "EU offers Ukraine $15 billion over 7 years to avert default," my little pea-brain fell a-working. Friend of mine once told me when you don't understand what was going on, you jus' FOLLOW THE MONEY.

So, what is Ukraine gonna default on? Bonds, I reckon. And who likely owns them bonds? Banks, I reckon. So if I follow this money-trail like any good tracking dog, I tree a banker! The EU is offering to bail out the banks so they can give in to Putin and keep the gas flowing under Ukraine to Berlin, Brussels, and Paris. But folks, this ain't "working for whirled peas," this is just another sample of bailing out the banks, the real rulers of our world.

Ain't y'all glad that y'all have the honor of keepin' them bankers up in the style they're used to? Hey, pass them collards, Mama! We can't afford no fatback in 'em cause the bankers need caviar.

On Wall Street today sobriety broke out. Dow continues to lag and lost 35.7 (0.22%) to 16,360.18. S&P500 lost only 0.1 (0.01%) to 1,873.81. (Who could tell?) Several cycles point to tomorrow as a turning day, so watch out.

With stocks inching down and silver and gold inching up, the Dow in Metals backed off today. Yesterday's rise in the Dow in Gold took it to the downtrend line and above the 20 DMA, but today it fell away and ended below the 20 DMA at 12.19 oz (G$251.99 gold dollars), down 0.66%. I'm still bracing for reaction rally, but may be disappointed if stocks peak or turn down tomorrow, as I expect.

Dow in Silver dropped 0.31% or 2.42 oz to 771.89 oz. It remains above its 20 DMA but a long ways below it downtrend line.

The flakey US Dollar Index lost 3 basis points (0.04%) to 80.14. In spite of hopeful economic statistics today, the euro dropped 0.06 to $1.3733. In the last four months the euro has painted the chart with double peaks at $1.3847 and $1.3824. Looks like their banks need more subsidies. Yen keeps moving sideways. Lost 0.08% today and ended at 97.71 cents/Y100, sliding beneath its 20 DMA.

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.