Wednesday, February 04, 2015

Silver and Gold Prices Rose Today with the Gold Price Closing at $1,263.80

4-Feb-15PriceChange% Change
Gold Price, $/oz1,263.804.100.33%
Silver Price, $/oz17.380.070.43%
Gold/Silver Ratio72.720-0.074-0.10%
Silver/Gold Ratio0.01380.00000.10%
Platinum Price1,240.903.700.30%
Palladium Price790.504.200.53%
S&P 5002,041.51-8.52-0.42%
Dow in GOLD $s289.08-0.83-0.29%
Dow in GOLD oz13.98-0.04-0.29%
Dow in SILVER oz1,016.92-3.97-0.39%
US Dollar Index94.250.500.53%

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
Having (it appears) finished the worst of their correction, silver & GOLD PRICES rose today gold $4.10 (0.33%) to $1,263.80 & the SILVER PRICE 7.4 cents (0.43%) to $17.379. My mama won't let me say, "I told y'all so."

GOLD/SILVER RATIO fell again to 72.720, right on its 20 DMA. Close below that mark confirms momentum downturn already begun.

The gold price has bounced off its 200 DMA enough to make a reversal believable. Today it also closed right at its 20 DMA, which has crossed above the 200 DMA. That cross witnesses that momentum is upward.

All the Wise Ones & gurus this evening want to blame the stock market's fainting spell today on the ECB. Seems the criminals at the ECB announced they would not accept Greek bonds for funding banks (I think that means that they are refusing to buy bonds from banks). That, say the Wise Ones, threw ice-water on the market's naked backs & caused every index except the Dow to close lower. S&P500 fell 8.52 (0.42%) to 2,041.51 while the Dow rose a microscopic 6.62 (0.04%) to 17,673.02.

Now MY explanation: Indices drew near that downtrend line from the December highs and swooned like Superman next to a bushel full of Kryptonite, for LO! That is what happened. Dow closed right on its 20 DMA, S&P500 below its 50 DMA. For now at least, the downtrend (& my explanation) hold.

Dow in Gold and Dow in Silver hooked down today, but not enough to change anything.

That news of trouble in Euro-Bank-Land sent the euro down & the US dollar index up. Course, one might also interpret that as the dollar index bouncing off its 20 DMA (at 93.64). Gained 50 basis points (0.54%) to 94.25. Still broken down, still has lower prices written all over its face. But with currencies, who knows? Government can throw a surprise party any time changing everything. That statement is so intrinsically hateful & stupid I can hardly type it, but it's true. Goofy world where government & central banks determine the economic destiny of us innocent sufferers.

Euro lost 0.88% to $1.1534. Yen gained 0.3% to 85.32. Who cares? Ain't neither one of 'em worth the paper they're printed on, nor the US$ neither!

Oil wilted today, losing 6.05% to close at $48.45.

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.