Wednesday, July 23, 2014

Both Silver and Gold Prices Closed Right on Their Uptrend Lines, Gold Closed at $1,304.50

23-Jul-14PriceChange% Change
Gold Price, $/oz1,304.50-1.60-0.12%
Silver Price, $/oz20.95-0.01-0.06%
Gold/Silver Ratio62.261-0.038-0.06%
Silver/Gold Ratio0.01610.00000.06%
Platinum Price1,485.00-2.60-0.17%
Palladium Price873.30-0.55-0.06%
S&P 5001,987.013.480.18%
Dow in GOLD $s270.76-0.09-0.03%
Dow in GOLD oz13.10-0.00-0.03%
Dow in SILVER oz815.51-0.78-0.10%
US Dollar Index80.890.040.05%

3 Day Gold Price Chart
3 Day Silver Price Chart
Silver and GOLD PRICES went sideways with no excitement or flurry. Silver mislaid 1.3 cents to 2905.2c after a narrow range of 2110c to 2094c. Dullsville. Gold traded from $1,303.50 to $1,311.80 and gave up $1.60. Wake me up when something happens.

Both SILVER and gold closed right at their uptrend lines, without much change from yesterday. If they break that line, which I expect, they'll spike down and give y'all a chance to BACK UP THE TRUCK, MORTGAGE YOUR KIDS, and BUY A TRUCKLOAD.

Till then, I am patiently watching.

If you saw a fellow installing a lighting rod on his house, you'd say "I reckon he expects lightening."

If you saw a fellow installing a bomb shelter, you'd say, "I reckon he expects a nuclear war."

And if you saw the SEC adopt "reforms" that relieve money market funds of maintaining a $1.00 per share price and call this a "reform" and say they aim to "mitigate the risks of a run in money market funds and limit further contagion should a run occur," you would say, "I reckon they expect another Panic like 2008, and another run on money market funds."

SEC made that "reform" today. Draw your own conclusion. Why would they be closing the gates against a bank run -- IN ADVANCE? Simple: so that when the runs come, they can deny you your money.

While I've got y'all thinking for yourselves, y'all might like to ask yourself the all-important "Cui bono?" question about the downing of that Malaysian airliner over Ukraine: Who benefits? Would Putin or Russia benefit? Just the opposite. Is Putin stupid? Just the opposite. Who has the most to lose? Putin.

Here's another question: Why was that airliner 300 miles away from the typical flight path? See

Finally, who benefits by fomenting war between Russia and the rest of the world?

Now let your mind wander back over some of the "false flag" operations of the last 150 years, and about this latest incident, ask yourselves, "Is it real, or Memorex?"

A sort of spooky calm hovers over markets. Stocks had an up and down day. The Dow and S&P500 gainsaid each other. S&P500 closed up 3.48 (0.2%) to 1,987.01,a new high, while the Dow fell 0.16% (26.91 to 17,086.63. Today's results bring no resolution: the S&P500 merely moved a step closer to its upper trading range boundary line, the Dow backed away from the top boundary of its bearish rising wedge. Only testimony from today's trading is "confusion." Investors are confused, causing indices to disagree.

Dow in Metals hardly changed enough to talk about. Dow in gold rose 0.15, Dow in silver rose 0.13%. Expect higher prices here.

US dollar index rose to an 8 month high against the puking sick euro today. Dollar index rose 4 basis points (0.06%) to 80.89. It needs to close above 81.10 to pierce that neckline I wrote about yesterday. Dollar is steadily rising.

Euro backed down 0.04% to $1.3461. Apparently it lacks the courage of convictions already expressed, namely, a journey to the earth's core.

Yen has twice, nay, thrice failed to break through the top boundary of a long narrow triangle. Today it lost 0.04% to 98.53. No strength showing in the currency of the Rising Sun.

Aurum et argentum 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.