Friday, February 06, 2015

The Gold Price Lost 2.23 Percent Today Closing at $1,233.90

6-Feb-15PriceChange% Change
Gold, $/oz1,233.90-28.10-2.23%
Silver, $/oz16.68-0.50-2.92%
Gold/Silver Ratio73.9840.5260.72%
Silver/Gold Ratio0.0135-0.0001-0.71%
S&P 5002,062.29-0.23-0.01%
Dow in GOLD $s299.236.272.14%
Dow in GOLD oz14.480.302.14%
Dow in SILVER oz1,070.9229.892.87%
US Dollar Index94.711.111.19%

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
Wasn't planning to send anything today, but drop in silver and GOLD PRICES need addressing.

Corrections usually unfold in three waves, A-B-C. I was expecting the C-bottom of this correction to be lower than the A-bottom, but clearly that was not the case. For silver it went to the sals low (bottom of A down). For the GOLD PRICE, it dropped closer to that $1,225 I said was possible.

I expect that's the extent of the downward move, but that and a dollar will get you a spoonful of sugar at Starbucks.

If I'm right, y'all ought to buy now or Monday.

Enjoy your weekend.

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.