Wednesday, October 15, 2014

Silver and Gold Prices are Steadily Advancing with the Gold Price Closing Up at $1,244.10

15-Oct-14PriceChange% Change
Gold Price, $/oz1,244.1010.500.85%
Silver Price, $/oz17.420.060.36%
Gold/Silver Ratio71.4380.3500.49%
Silver/Gold Ratio0.0140-0.0001-0.49%
Platinum Price1,261.40-10.90-0.86%
Palladium Price763.40-30.25-3.81%
S&P 5001,862.49-15.21-0.81%
Dow in GOLD $s268.21-5.19-1.90%
Dow in GOLD oz12.97-0.25-1.90%
Dow in SILVER oz926.89-13.31-1.42%
US Dollar Index85.08-0.97-1.13%

3 Day Gold Price Chart
30 Day Gold Price Chart
5 Year Gold Price Chart
3 Day Silver Price Chart
30 Day Silver Price Chart
5 Year Silver Price Chart
Sorry, I'm running late so have no time to prettify this.

The GOLD PRICE rose $10.50 (0.85%) and silver rose 0.35% (oddly similar to yesterday, no?) or 6.2 cents to $17.415

Silver and GOLD PRICES are steadily, steadily advancing, I doubt not harassed by the NGM trying to slow them down. But NGM or the Easter Bunny, the SILVER PRICE must advance through $18.00 and gold through $1,300. Gold crossed above that next resistance barrier at $1,237 today. Higher is coming. Better buy some, just in case (as I currently believe) 3 October was their bottom.

Think about it: if you were the Nice Government Men charged with keeping the world from blowing apart before you quit at 5:00, what would you do?

Stocks today cratered, the Dow at one point had lost 460 points, but thank heaven, some deep pocketed buyer reached in there and brought it back up to close on 173.45 (-1.06%) down at 16,141.74. S&P lost 15.21 (0.81%) to 1,862.49

And I suspect the NGM were busy in the metals market today, because platinum lost 10.90 and palladium 30.85. The platinum market was where in 1987 they attacked gold (this was reported in the Wall Street Journal, as I remember) by shorting the platinum market, which hoodwinked those watching to sell gold.

US Dollar index tanked today on bad economic news that left folks thinking the Fed would continue its ZIRP a little longer. Fear overflowed into the junk bond markets today where they crashed, too. Dollar fell a gigantical 0.97% or 83 basis points to 85.08. Euro rose 1.34% to $1.2828 and the yen added another 1.07% to 94.36.

Dow in gold and Dow in silver tanked, down to G$268.73 (13.00 oz) and S$1,196.68 (925.56 oz), down 1.4%. Technically both have put the pedal to the metal in those downtrends.

Stock market tanking, dollar tanking, junk bonds tanking, treasury bonds soaring. Today was not exactly a panic, but today was a mighty and terrifying unravelling. Tomorrow will unravel more. The whole sweater's in trouble.

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.