Monday, October 20, 2014

The Gold Price Rose Back to $1,244 Up $5.70 on the Comex

20-Oct-14PriceChange% Change
Gold Price, $/oz1,244.005.700.46%
Silver Price, $/oz17.300.0220.13%
Gold/Silver Ratio71.3420.2370.33%
Silver/Gold Ratio0.01390.0000-0.33%

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
Markets inspired no excitement today, but I do wonder why silver keeps closing up only 2 cents or so but in the aftermarket climbs a dime or 20 cents.

Anyway, the GOLD PRICE rose back to $1,244, up $5.70 on the Comex. The SILVER PRICE rose 2.2 cents to $17.304 on Comex, but is now trading at $17.39.

When the GOLD PRICE breaks through $1,250, it will run. Stocks have another huge fall coming.

Stocks rose cosmetically, but technically they remain in a bull-strangling downtrend. Dow closed up 19.26 (0.12%) to 16,399.67 while the S&P500 gained 0.91% (17.260 to 1,904.02. All this changeth nothing, althought he S&P500 looks a little stornger than the Dow. Both will make this dead-cayt bounce, then resume their plunge.

US dollar index fell 24 basis points (0.29%) renewing its downtrend.

Increasing premium on US 90% silver coin suggests buying pressure is a-building in silver.

I have to travel the rest of this week, but will try to comment on Wednesday. If you are waiting to buy silver or gold, stop.

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.