|Gold Price, $/oz||1,197.00||5.60||0.47%|
|Silver Price, $/oz||16.98||0.02||0.10%|
|Dow in GOLD $s||305.99||-6.52||-2.08%|
|Dow in GOLD oz||14.80||-0.32||-2.08%|
|Dow in SILVER oz||1,043.49||-18.30||-1.72%|
|US Dollar Index||97.13||-0.32||-0.33%|
|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|
The GOLD PRICE is progressing but stalled at the $1,200 mark. Notice how it grinds just a few dollars closer every day. Like stretching a rubber band, when it gives it'll pop the fool out of you. So the gold price will pop the fool out of scorners who now discount it. A close above $1,210 would suit me just fine as that would carry gold above that neckline we've so long discussed. Gold will keep moving up as long as it doesn't close below $1,180.
The SILVER PRICE HAS conquered that neckline, and its 50 DMA ($16.76) & has set its sights on the 200 DMA at $17.87. First hurdle is $17.00, then $17.43, then January's high at $18.50.
GOLD/SILVER RATIO is dancing on the 200 DMA as we speak. Breaking through that line will confirm the metal's firm intent to climb. Trading today barely under the uptrend line from the April 2011 low (!), but not quite through the 200 DMA, today at 69.79.
Yes, yes, more confirmation is always required, but silver & gold prices look stronger and more promising than I've seen since this correction began in 2011. Time to let those moths out of your moneybags and buy some. Buy more as we get more confirmation.
Sorry I missed y'all yesterday, but I was finishing my monthly Moneychanger newsletter for paid subscribers. I had a great interview with Keith Weiner of www.monetary-metals.com & the Gold Standard Institute USA, http://goldstandardinstitute.us/ He really has a fresh way to look at the monetary and economic mess. Go visit his sites.
Dow has lost nearly 400 points -- exactly 397.5 -- in the last two days. Dropped 1.62% today or 292.6 to 17,718.54, leaving 18,000 behind as a dim memory. S&P peeled off 30.45 (1.46%) today to 2,061.05. I know I'm no more'n a nat'ral born durned fool from Tennessee, but I'd be thinking about stocking some of them stocks for silver & gold, while there's still time. What you are watching is neither an anomaly nor an exception nor a blip. Get used to it.
Dow punched clean through both its 20 & 50 day moving averages (DMAs). 200 DMA stands at 17,315.61, a mere 403 points lower, about two days' fall for the Dow. Today the S&P500 closed beneath both its 20 & 50 DMAs AND the uptrend line from the 2009 low. Yes, that means something.
Nasdaq Composite today lost a whopping 2.37% to 4,876.52, biggest loss in almost a year. Dow Transports plunged 2.03% & have topped.
For those of y'all who thought I was just blowin' smoke about those Gator Jaws in the Dow in Gold & Dow in Silver, today added proof they have decisively turned down -- more precisely, plunged.
|Dow in Gold|
|Dow in Silver|
US dollar index keeps on falling & falling. Lost another 32 basis points today to 97.13. Euro rose 0.44% to $1.0975 & STILL looks sorry as gully dirt. Can't pull away from the downtrend, even though it stands on the upside. Yen is minding its manners. Rose 0.28% to 83.73, above the 20 DMA but below the 50 (not much distance between them), but still in the lower half of the 4 month trading range.
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.