|Gold Price, $/oz.||1,186.00||1,216.00||30.00||2.5|
|Silver Price, $/oz.||15.734||16.386||0.652||4.1|
|Dow in Gold $ (DIG$)||310.83||301.53||-9.29||-3.0|
|Dow in gold ounces||15.04||14.59||-0.45||-3.0|
|Dow in Silver ounces||1,133.40||1,082.47||-50.93||-4.5|
|US dollar index||91.43||92.16||0.73||0.8|
|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|
|Gold Silver Ratio|
Today on Comex the GOLD PRICE jumped up $7.60 (0.6%) to $1,216 and silver twitched 3.5 cents (0.2% to end at $16.386. Aftermarket shows gold at $1,223.70 and silver at $16.53.
The SILVER PRICE weekly chart (end of day, not Comex close) shows silver uptrending from 1 December and now only about fifty cents from its 20 DMA ($16.97). It is testily moving up.
Silver and gold prices are set up to chalk higher prices next week.
The week don't lie. Despite all the jubilatin' on Wall Street, stocks ended the week gravity-challenged. Dollar Index rose, but may have peaked today; ain't enough left of the poor euro to kick it to the curb and wash up the goo. Even Platinum and Palladium got in on the fun, with platinum up 2.2% and palladium 0.7% higher.
Here's an aside about how prices respond in a free market. Last year live weight feeder cattle in Tennessee were bring $1.46/lb live weight -- on the hoof. This year they're bringing $2.20/lb, up 32%. Drought in the west has cut the national cattle herd to a 63 + year low. Drought made ranchers sell off cattle, even breeding stock, so that price won't bounce back soon. Takes two years to grow a mama cow, and most of another year for her to calve. That has taken the price of cows to the moon. And none of this has anything to do with "inflation, just natural events and cause and effect. My point? Put more beef in your freezer -- prices will rise.
Speaking of cattle, the Labor Department issued another lying report today, claiming that the US economy created 252,000 jobs in December and the unemployment rate had dropped to 5.6%. Whoops, average waged fell 0.2% and worker's gained only 1.7% in wages in 2014, almost enough to buy an extra hamburger a month. Whoops -- civilian labor force participation rate was 62.7% in December, and you have to look back to February 1978 to match that low. As liars go, government liars ain't much.
Them as lives by volatility dies by volatility -- thus the stock market this week. In spite of the Dow's Wednesday gains of 212.88 and Thursday's 323.35, stock market ended the week lower. Owch. Today the Dow lost 170.50 (0.95%) to 17,737.37 while the S&P500 shucked 17.33 (0.84%) to 2,044.81. Probably yesterday marked the end of the very latest wave up and beginning of next wave down. Dow ended slightly above its 20 DMA, S&P500 dead on both the 20 and 50. Precarious as a window washer on a 100 story building.
Dow in silver and Dow in gold are still drawing on their charts Gator Jaws or broadening top formations. Stocks' brief rally this week took them up to the (closely aligned) 20 and 50 DMAs, but today they dove again, pretty classic move for a downtrend.
|Dow in Gold|
|Dow in Silver|
I watch the DiG and DiS because they offer the most reliable indicator for the long term trend of silver and gold. When silver and gold prices are gaining against stocks, investor trust and confidence in the financial system is shrinking, and that determines the primary trend.
West Texas Intermediate Crude shriveled 1.45% to $48.21/bbl. Put a mirror under its nose, it may be showing signs of life.
|US Dollar Index|
Euro had its best day in a long time, which is like being served a better grade of oatmeal on death row. Rose 0.42% -- for the first time in the last 7 days -- and closed at $1.1843. If y'all are planning on a European vacation, better hop a jet now.
Yen also gained today, 0.98% to 84.36c/Y100. Has climbed above its 20 DMA and struggled over its downtrend line and truly has a leetle uptrend going. Strong as a mouse-pup.
Aurum et argentum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
© 2015, 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.