Thursday, March 12, 2015

Gold Prices Closed on the Comex at $1,152.10 Up $1.40 or 0.12 Percent

12-Mar-15PriceChange% Change
Gold Price, $/oz1,152.101.400.12%
Silver Price, $/oz15.490.150.96%
Gold/Silver Ratio74.363-0.626-0.83%
Silver/Gold Ratio0.01340.00010.84%
Platinum Price1,115.90-0.50-0.04%
Palladium Price786.60-2.45-0.31%
S&P 5002,065.9525.711.26%
Dow in GOLD $s321.094.281.35%
Dow in GOLD oz15.530.211.35%
Dow in SILVER oz1,155.055.790.50%
US Dollar Index99.49-0.49-0.49%

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 PRICES closed Comex at $1,152.10, up $1.40 (0.12%). Silver rose 14.8 cents (0.97%) to $15.4093.

Friends, you can not build an empire on $1.40 a day.

Five day GOLD PRICE chart shows a bottom about $1,147.50 yesterday & today. could that be a double bottom? Doesn't act like it yet.

The SILVER PRICE five day chart looks stronger, with a V-bottom yesterday & a rise back toward $15.70 -- but look where it closed, at $15.493.

I just can't see any sign either one has turned up yet, and am not convinced the raging dollar has stopped raging. Till it does, I'm sitting tight.

David Stockman's Contra Corner has an article worth reading about why the dollar is rising. See His comments about the bogus Chinese economic miracle reminds me of something that happened maybe ten years ago. Friend of mine who built turnkey plants in China -- all finished and ready to start, just turn the key -- told me about plants built in the middle of nowhere. That was years ago, but now the stories are surfacing about huge empty high rises, roads to nowhere, etc. in China. But who is surprised? We are asked to believe that central planning communists can engineer an economic miracle. That's a story I've never been able to swallow.

Only our American Socialists in Federal Reserve can do that, Comrade!

Dollar slid 49 basis points to 99.26 today & the Nice Government Men took that as their opportunity to buy S&P500 futures and jack up the stock market. Dow rose 259.83 (1.47%) to 17,895.22. S&P 500 rose to 2,065.95, up 25.71. Note: The Dow is way outside its uptrend line from 2009. S&P barely above today.

Euro took the opportunity to rise 0.81% for a change, reaching the lofty level of $1.0626. Don't look like much on a chart, & surely no turnaround yet. Yen rose 0.19% to 82.44. Same range.

On 12 March 1850 the first US $20 gold piece (DOUBLE eagle) was minted. The Coinage Act of 1792 specified the eagle (about half an ounce) as the largest gold coin. The minting of $20s and $1 gold pieces indicates the glut of gold on the market at the time, thanks to gold discoveries in the US & Australia. Later the Comstock Lode (yes) brought on more, and then South Africa, so the price of gold in terms of silver slipped for decades.

There's a great short article by Antal Fekete, "Silver & Opium," at He very briefly describes the flows of wealth from west to east that moved the British (and Americans) to force opium on China. You ought to think about it because these tides of wealth toward the east & then toward the west are very long term trends. Today it appears the tide is again flowing east.

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.