Thursday, February 12, 2015

The Gold Price Rose $1.10 to $1,220.10

12-Feb-15PriceChange% Change
Gold Price, $/oz1,
Silver Price, $/oz16.780.030.20%
Gold/Silver Ratio72.720-0.078-0.11%
Silver/Gold Ratio0.01380.00000.11%
Platinum Price1,203.505.900.49%
Palladium Price773.95-7.10-0.91%
S&P 5002,088.4819.950.96%
Dow in GOLD $s304.501.590.53%
Dow in GOLD oz14.730.080.53%
Dow in SILVER oz1,071.194.470.42%
US Dollar Index94.22-0.96-1.01%

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
Hot zig! The GOLD PRICE rose $1.10 to $1,220.10 today, just a-blowin' and goin' on the Comex. And silver rose 3.3 cents to $16.778. Be still, my beatin' heart!

Y'all settle down! I'm just teasin' with you. I have good news.

Gold Price
The GOLD PRICE bounced up off that neckline smartly. Hit 1,232.80 today, higher than the 50 DMA (1,229.40). Didn't stay there, but it reversed upward after striking bottom Bollinger Band yesterday. Another higher close yesterday would clinch a trend change (to upward). Chart on the right:

The SILVER PRICE jumped today clean to the falling wedge's top boundary and above (barely) the 50 DMA. Breakout tomorrow back above that neckline would be strong evidence Silver has turned up, too.

In other words, silver and gold prices may have turned up today. I'm not positive, and it's hard to be, out here on this limb sawing the way I am, but I reckon there's a good chance they've turned. Something unexpected, say, some real heel-digging by Greece, would put some rocket fuel in 'em.

Okay, Candide, break out the shampagnee! This is once again the best of all possible worlds with the best of all possible Rulers. Europeans including Ferkel and Howling made a deal with the Russians to replace the September cease-fire in Ukraine that failed with another cease-fire. No more'n a nat'ral born durn fool from Tennessee, it looks like to me like the Rooshuns got everything they wanted. But then, after poking 'em in the eye fifty times, maybe the Europeans and the US ought to give 'em a little somethin'. And Ukraine might as well get prepared for dismemberment. (On top of everything, the US senate confirmed Mr. Magoo as Secretary of Defense today. Secretary, my foot! I bet he don't even know shorthand.)

The Deal That Wasn't A Deal. The Euros and the Greeks made a deal, but it's not really a deal. Greeks agreed to meet for talks with their creditors, but the EU finance ministers made no statement after their meeting. Then the Euro Central Bank said it would give Greece cash to operate one more week, until 18 February. Finance ministers meet again on Monday, when they will dither further and throw more bones and scraps to the Greeks. Not likely the Greeks will bite. Ain't got no teeth.

Candide moved into stocks heavily today. Dow shot up 110.24 (0.62%) to end at 17,972.38, its highest level since 2015 began. S&P500 leapt 19.95 to close 2,088.48, it's loftiest since 29 December 2014. Ain't dat sumthin'! May reach higher still. Stocks are a big market and take a long time to turn 'round.

Dow in gold rose, but only 0.42% to G$304.29 (14.72 troy oz). Beginning to wonder if it won't rise to the top gator jaw (G$313.29 or 15.35 oz). Got to remind yourself that Gator Jaws are frustrating formations that take a long time to complete. Like fishin' -- you got to be patient.

Dow in silver rose 0.56% to S$1,383.65 silver dollars (1,070.17 tr. Oz). Don't bother me none - I am patient and I can take it.

Still appears to me that the Dow in Metals peaked and turned down in December/November. That still implies the price lows for gold and silver lie behind us, as well as stocks' relative highs against metals.

US dollar index' actions today finally revealed its heart: it sank like a drunk in a 55 gallon rain barrel. Chart's on the right.

Sure, the trumpeted but bogus good news from Europe ought to have pulled the plug on the dollar, but it dropped 96 basis points (1.01%) at 94.22 and cut clean through the 20 DMA at 94.31. That never looks good no matter who does it. Turns out yesterday's breakout was a fakeout. Odds suggest as strongly as fixed dice that the dollar will experience lower altitude soon.

Don't think the dollar's bad day was the euro's good day. Don't work that way for what has become the Sorry Mangy Yeller Dog of sorry, scrofulous fiat currencies. It did rise 0.55$% to $1.1407, but so what? Barely poked its head above the 20 DMA and needs to comb above $1.1800 to earn any credibility a-tall,.

Yield fell on US 10 year treasury note. Still odd. WTIC oil rose 3.58% to $51.21 a barrel, and has a little rally running.

Yen surprised with a 1.17% rise to 84.04c/Y100, but that likely is just a touchback to breakdown. Sequel will probably be lower yen.

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.