|Gold Price, $/oz||1,148.30||-5.00||-0.43%|
|Silver Price, $/oz||15.56||-0.04||-0.25%|
|Dow in GOLD $s||321.32||-0.91||-0.28%|
|Dow in GOLD oz||15.54||-0.04||-0.28%|
|Dow in SILVER oz||1,146.96||-5.36||-0.47%|
|US Dollar Index||100.01||-0.03||-0.03%|
The GOLD PRICE lost $5.00 to $1,148.30 and silver 3.9 cents to $15.562.
The GOLD PRICE was attacked by sellers about 10:00, broke $1,150, & tumbled down to $1,141.60. Recovered just as quickly, too, taking back all that lost price and rising to $1,159.30. That, however, was just a spike and it fell back to flatten out the day between $1,148 and $1,150. Somebody playing games, but significant in showing us buyers outnumber sellers down around $1,140. Same trick was played out in silver, with no more success. Loads of buyers down around $15.40.
"Don't kid yourself. Stocks aren't any cheaper today than they were at the height of the internet bubble. What's truly 'different this time'; is that, rather than seeing incredible overvaluation confined to just one segment of the market, it is far more pervasive than it was back then. In my view, this also makes it far more insidious" -- Jesse Felder. full article at http://bit.ly/1DxBKeB
There's no point in anybody trying to fool himself into thinking he knows what the Fed will say after the FOMC meeting tomorrow, or what bizarre effect it will have on markets. They wait breathlessly for the FOMC's word -- what a spectacle of everything evil, stupid, corrupt, twisted, and foul in the economic, financial, and monetary world -- as if that group of ninnies could direct the economy of Frogburp, Rhode Island, let alone that of the USA.
That said, the day was not without a little drama. Stocks which looked invincible yesterday were vinced and minced today. Dow lost 128.41 (0.71%) to 17,849.01. S&P lost 0.34% (7.01) to 2,074.18.
US dollar index barely moved. 'Twas 100.04 yesterday, 'tis 100.01 today.
This is stalemate, Sitzkrieg, waiting for the Great Actors of the Fed to tread the stage & tell the rest of the world its fate. Hurts my brain & self-respect to think about it.
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.