Gold Price Close Today : 1346.50
Change : 5.10 or 0.38%
Silver Price Close Today : 20.784
Change : -0.095 or -0.46%
Gold Silver Ratio Today : 64.785
Change : 0.539 or 0.84%
Silver Gold Ratio Today : 0.01544
Change : -0.000130 or -0.83%
Platinum Price Close Today : 1464.00
Change : -12.60 or -0.85%
Palladium Price Close Today : 770.30
Change : -6.35 or -0.82%
S&P 500 : 1,867.63
Change : -9.54 or -0.51%
Dow In GOLD$ : $251.03
Change : $ (1.99) or -0.79%
Dow in GOLD oz : 12.143
Change : -0.096 or -0.79%
Dow in SILVER oz : 786.72
Change : 0.35 or 0.04%
Dow Industrial : 16,351.25
Change : -67.43 or -0.41%
US Dollar Index : 79.770
Change : 0.200 or 0.25%
I looked at the computer screen this morning and liked to puked in my wastebasket. Oh, no! Look at that GOLD PRICE, pushing on $1,345! I felt rotten because I've been telling y'all about the likelihood of a pullback that keeps refusing to happen, and I though, "Oh, great! I told 'em to hold off and that blasted gold price is going to blow through $1,360 like a mule headed for the barn."
Well, gold ended up $5.10 at $1,346.50, but silver lost 9.5 cents to 2078.4c. That boosted the GOLD/SILVER RATIO to 64.785, highest level in a long time. I don't know why they're disagreeing, or why they haven't corrected, but it points to more strength than I give gold credit for. Still, drops in platinum and palladium leave me squirming.
Technically the MACD is pointing down, Rate of change is dropping, and stochastics are rolling over, but the GOLD PRICE keeps levitating. If it escapes $1,355 it will run higher like a scalded dog.
The SILVER PRICE remains below its 200 DMA, but today reached up with a 2133c high and punched into the 20 DMA (2125c). Low was 2067, so the range is coming to life. On an end of day chart silver closed higher at 2088c. As with the gold price, the silver price is hinting it wants to rise, but hinting only.
I grow less and less comfortable waiting to buy. Start pecking at it.
Since we all have to balance our own budgets and can't for long spend more than we take in, we don't get it when it comes to government spending. When you can print your own money and force people at point of gun to take it as money, you can spend all you want. You don't need taxes for revenue, only for social control. Read that again.
They don't levy taxes for revenue -- they don't need 'em. All federal taxes are about controlling your behavior, nothing else.
Res ipsa loquitur -- the thing speaks for itself. A chart just says what it says, and copper is saying it very loudly. It sank again today, 3.1%, to $2.95, well below $3.00. Copper is saying that it expects very poor economic activity. Very poor. Bad juju for the stock market.
Stocks kept on rolling over downward today. Dow backed up 67.43 (0.41%) to 16,351.25 and the S&P500 inchwormed down 9.54 (0.51%) ending at 1,867.63. Several indicators are beginning to show the effects of gravity rather badly. Copper is flashing a warning for stocks.
Stocks' stumble today sent the Dow in Gold and Dow in silver down. After puncturing its downtrend line and 20 day moving average yesterday, the Dow in Gold fell below both today, down 1.12% to 12.12 oz (G$250.54 gold dollars). Is the correction over? Has the plunge resumed?
Dow in silver nearly reached its downtrend line, then dropped away today by 0.63% to 783.11 oz. Both Dow in Gold and Dow in Silver appear to be rolling over, but no proof yet, just hints.
To remind y'all why I bother with this, the Dow in Gold and Dow in Silver measure the value of stocks in silver or gold. The primary trend (15-20 years) for the DiG and DiS turned down in 1999 and 2001. Both have been in an upward correction the length of the metals' downward correction (2011-2013). When they fall back through the downtrend line they will powerfully confirm that silver and gold's long walk in the wilderness has ended.
US dollar Index teetereth yet on the brink. Rose 2 basis points to 79.77 today. Meanwhile the euro which looked recently like it was to break out in a rally to new highs was ambushed by ECB statements today hinting that the Fed was not the only central bank that can do quantitative easing. Euro fell 0.13% to $1.3860. This is not fatal to a rally. A fall below $1.3800 would be fatal. In perfectly counterintuitive form today, the Yen rose on news the Bank of Japan intends to inflate more. Climbed 0.26% to 97.07 cents/Y100, barely above the 50 DMA (97.02).
Sometimes when I look at the financial and banking system and the fiat currencies, I feel like a drunk waking up off a four day moonshine and meth toot thinking, "How did it ever get this crazy?"
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.