Wednesday, March 04, 2015

Gold Prices Fell with the Gold Price Ending at $1,200.60

4-Mar-15PriceChange% Change
Gold Price, $/oz1,200.60-3.40-0.28%
Silver Price, $/oz16.13-0.13-0.78%
Gold/Silver Ratio74.4240.3680.50%
Silver/Gold Ratio0.0134-0.0001-0.49%
Platinum Price1,182.80-7.90-0.66%
Palladium Price830.40-0.75-0.09%
S&P 5002,098.53-9.25-0.44%
Dow in GOLD $s311.59-0.96-0.31%
Dow in GOLD oz15.07-0.05-0.31%
Dow in SILVER oz1,121.802.110.19%
US Dollar Index95.990.540.57%

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
Yesterday the GOLD PRICE sank $3.70 & today another $3.40 to wind up Comex at $1,200.60. Silver lost 14.9 cents on Tuesday and 12.6 cents today & finished at $16.132. GOLD/SILVER RATIO rose to 74.424, poking into the downtrend line.

They might as well have closed down the silver & gold markets today & stayed home and drunk martinis. The SILVER PRICE had a 30 cent range with a $16.05 low, the gold price ranged over a thrilling $10.70.

That left the GOLD PRICE closing barely below the uptrend line I've been watching, the one climbing up off the November low. Yet it showeth no ambition to fall further. Silver remained above the trend line I'm concerned about, a line connecting the shoulders of that upside-down head and shoulders formed November through December. Tomorrow that stands at $16.05.

Silver and gold prices lack momentum and direction, except that since the 23 January tops their trend has been down. Unless they gainsay that some way, it will remain down. "Gainsay" means the gold price closes above $1,220 and silver above $16.80.

Stocks are sicker'n e'er a dog. That jubilatin'-est high lately may have been the Big One. Dow below 18,050 turns it seriously down. After losing 85 yesterday, Dow lost another 106.47 (0.58%) to 18,096.90 today. S&P500 lost 9.61 yesterday and another 9.25 today to end up 0.8955 lighter in two days for a close at 2,098.53.

In spite of gold & silver's weakness the last two days, both the Dow in Gold & Dow in Silver have jiggled down again. Could be a top but to early to say.

US dollar index mildly surprised me with a 54 basis point (0.56%) rise to 95.99, a scootch higher than the January high at 95.85. As yet that sayeth naught, because it could be a double top or it even could be another leg up. I doubt that, but it's possible. Euro hit a new low at $1.1079 (-0.86%).

WTIC rose 1.75% to $51.53/barrel. Refusing to break down. Maybe oil has sunk all it intends to.

Sorry I missed y'all yesterday evening, but Susan & I had to drive down to Corinth to see a friend there having sudden heart surgery today. Then I had to drive up to Kentucky this morning with my son today to pick up two Hereford sows. I've driven through more blindin' rain than Noah in the last 24 hours, so I'm going to make this fast & straight.

World right now is like a ball a kid throws straight up in the air. Y'all know how it seems to hang there just a split second at the top of its arc, right before it comes crashing back down and hits the kid in the face? It's that kind of pause. I've been reading somebody lately who has shed new light on the monetary & financial questions for me. First new viewpoint I've seen in a long time, and it shocked me. That has returned me to a longer term outcome, & I simply can't avoid saying it: the central banking monetary system is doomed. Just like that ball I mentioned above, it didn't come down in 2008 & it has paused in the air, but you trust gravity and not central bankers, because that ball is coming down. The world will change suddenly and painfully.

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.