|Gold Price, $/oz||1,177.90||-1.80||-0.15%|
|Silver Price, $/oz||15.73||0.08||0.52%|
|Dow in GOLD $s||316.32||1.62||0.51%|
|Dow in GOLD oz||15.30||0.08||0.51%|
|Dow in SILVER oz||1,145.85||-1.79||-0.16%|
|US Dollar Index||90.36||0.42||0.47%|
|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|
Any traders who showed up at the silver and GOLD PRICE pits today were just wasting their time. Silver rose 8.1 cents to $15.73 while the GOLD PRICE fell $1.890 to $1,177.90. Stocks are sucking all the world's money into themselves, and all attention. Noteworthy that in spite of that, SILVER and gold prices are not falling any more. That in itself is faint praise, but praise it is. We're waiting.
Stocks made new highs today. Dow closed over 18,000, up 64.73 (0.36%) to 18,024.17. S&P500 rose about half as much, 0.17% (3.63) to 2,082.17. I am waiting, waiting.
Dow in gold closed today at G$316.69 gold dollars (15.31 troy oz.), higher than the last low (G$316.07 or 15.29 oz) and up 0.34%. So we raise the upper boundary of the Gator Jaws a little, but I'll stick with that interpretation.
Dow in silver did not reach the top Gator Jaws boundary. It actually dropped 0.34% to S$1,475.87 (1,141.49 oz). It's very taxing, indeed, vexing, to be forced to watch this tennis-match back and forth, but it goes with the Gator Jaws.
As has been its pattern, the US dollar index followed stocks higher. Rose 42 basis points (0.47%) to close at 90.36. That puts it right on the upper boundary of the rising wedge, so if it intends ever to break down, it better do it soon or invalidate the pattern. Don't expect much to happen or to change between now and next Monday.
Euro made a new low for the move that began months ago, down 0.44% today to $1.2164. Yen has nearly but not quite reached its last low. Down 0.55% to 82.85c/Y100.
My dog troubles are growing. Not only do we have Duke shuffling around, with Susan waiting on him maw and paw, my daughter Mercy and her husband Trevor are also staying with us, and with them comes Tucker, the Labradoodle. Not only is he a horrible embarrassment because I keep calling the dog Trevor and her husband Tucker (I can't keep up with T-names), he is the size of the Yeti and has about the same amount of curly fur, but white. I think the dog is getting meth somewhere, because no creature naturally has that much energy. He has to be everywhere and see everything, which, if you value your privacy, can be a little burdensome. When he runs the whole house shakes, and when he walks over our mostly wood floors at night, it sounds like somebody throwing out quart jars of jacks. I think, I'll let him out to run off some of that energy. He bolts out the door, runs 50 yards to the fence, 25 yards the other way, eludes all three other dogs (Duke is not in the chase), barks at my pig, then runs 50 yards back into the house, all in under seven seconds. Then he haunts the glass doors to our deck, staring out at the cat who he's pretty sure is an hors d'oeuvre. Today Mercy left him with a friend who has a small yard with a high gate, and wants me to pick him up on the way home. I am just all a-tremble with joy at the thought of riding home next to Tucker after his long efficient claws have shredded my upholstery. Nothing I like better than the smell of wet dog, and only one of the windows works in my car.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
© 2011, 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 $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write "Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining stocks, too?" No, I don't.
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 outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.