Monday, July 28, 2014

The Gold Price Remained Unchanged at $1,303.30

28-Jul-14PriceChange% Change
Gold Price, $/oz1,303.300.000.00%
Silver Price, $/oz20.53-0.06-0.30%
Gold/Silver Ratio63.4950.1910.30%
Silver/Gold Ratio0.0157-0.0000-0.30%
Platinum Price1,489.4011.800.80%
Palladium Price879.750.950.11%
S&P 5001,978.910.570.03%
Dow in GOLD $s269.360.350.13%
Dow in GOLD oz13.030.020.13%
Dow in SILVER oz827.373.560.43%
US Dollar Index81.12-0.02-0.02%

3 Day Gold Price Chart
30 Day Gold Price Chart
3 Day Silver Price Chart
30 Day Silver Price Chart
I don't like double closes, or near double closes, where a market closes at X one day then next day closes unchanged. Often it indicates a trend failing. Silver and GOLD PRICES both traded flat today in small ranges. Silver lost 6.2 cents to 2052.6c while gold closed unchanged -- that's right -- at $1,303.30.

GOLD PRICES indicators have index fingers pointed toward the earth. Gold needs to close above $1,320 to break upward. If it breaks $1,300 tomorrow it will retest the previous low and 200 DMA at $1,287.

The SILVER PRICE support from 2050c to 2035c has to hold or silver will fall back to prove itself at 1975c.

I anticipate that by the end of Augusts' first week, lows will have been passed.

Stocks faded about half the day, then climbed enough to get their noses out from under the water. Dow rose, but not enough to brag about, only 22.2 or 0.13% to 16,982.59.

Y'all recall that on Friday the Dow fell out of that latest rising wedge within a rising wedge. That makes it a safe bet it will touch the 50 DMA, nearby at 16,858. Today the uptrend line from the March 2009 low stands at about 16,720. Should the Dow fall through that line, folks on Wall Street will shave their topknots and start fasting and praying to the money god to save them. Indicators all point down, witnessing the fall will fall more, and that Russell 2000 small cap index looks like it's been eating bad meat. Y'all can see a chart at

Get out your microscopes! S&P500 rose 0.57 (0.03%) to 1,978.91. Bottom boundary of the S&P500's trading channel is at 1,964, and below lieth an air pocket. 50 DMA is camped at 1,948.

Dow in Metals offers a slightly confused picture right now. Dow in Gold rose 0.5% to 13.02 oz (G$269.15), and just above at 13.03 (G$269.35) lurks the 50 DMA. Should rise much above that or it will pierce the downtrend line. Dow in silver has risen through three fan lines, hit the 50 DMA above, then backed down. Today it rose 0.98% to 823.60 (S$1,064.86). Pears both of them have completed a correction to their falling trend, but I am patiently awaiting confirmation.

If I get to choose my friends, the US Dollar Index ain't gonna rank among 'em -- too unpredictable and untrustworthy. It's bite the hands of friends and then gnaw 'em off. It backed off two basis points today to 81.12. That's not amazing as it fights to get through the neckline of an upside-down head and shoulders.

Yield on the 10 year treasury note (my proxy for interest rates in general) threatened to free-fall last week, but then slapped itself and mumped up. It has not, however, jumped out of danger's road. Closed at 2.491 today, and needs to close above 2.625 to confirm it has changed its direction to up.

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.