Wednesday, November 12, 2014

The Gold Price Closed at $1,158.90 Down $3.90

12-Nov-14PriceChange% Change
Gold Price, $/oz1,158.90-3.90-0.34%
Silver Price, $/oz15.62-0.05-0.29%
Gold/Silver Ratio74.198-0.036-0.05%
Silver/Gold Ratio0.01350.00000.05%
Platinum Price1,205.80-0.20-0.02%
Palladium Price773.306.450.84%
S&P 5002,038.25-1.43-0.07%
Dow in GOLD $s314.161.010.32%
Dow in GOLD oz15.200.050.32%
Dow in SILVER oz1,127.613.070.27%
US Dollar Index87.900.290.33%

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
The GOLD PRICE dropped $3.90 (0.28%) at $1,158.90; the SILVER PRICE fell 4.5 cents to $15.619.

This won't do. Silver and GOLD PRICES are stalled here and if they can't get passed these recent highs at $1,170 - $1,172 and $15.88. Hanging around here only burns up purchasing power, morale, and enthusiasm. In markets as in life, if you're not moving forward you're falling behind.

Silver coin premiums won't shut up and strongly shout for a rally.

US and UK regulators have fined UBS, HSBC, Citigroup, JP Morgan Chase, and Royal Back of Scotland $3.4 billion (average $680 mn each) for "allegedly" manipulating currency markets. But if it's only "alleged," why did they agree to pay all that dough? I note that no one went to jail, nor were there any indictments. Don't y'all think that's odd, that none of the hanchos in these giant banks are ever brought up on criminal charges? I reckon there must be 2 sets of laws, one for them, and one for us peons.

Stocks bounced off that overhead resistance today. Dow shrank back 2.7 (0.02%) to 17,612.20. S&P lost 0.07% (1.43) to 2,038.25. Watch for a sharp decline.

US dollar index rose 29 basis points today after losing 29 basis points yesterday. Closed at 87.90. Still trending down.

Euro lost 0.28% to $1.2436, wiping out yesterday's gains. Yen bounced up 0.22% and ended at 86.53.

Sorry to leave y'all short tonight, but I must keep an appointment.

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.