Monday, March 09, 2015

The Gold Price Rose $2.30 or 0.2 Percent to $1,166.40

9-Mar-15PriceChange% Change
Gold Price, $/oz1,166.402.300.20%
Silver Price, $/oz15.76-0.03-0.18%
Gold/Silver Ratio74.0340.2820.38%
Silver/Gold Ratio0.0135-0.0001-0.38%
Platinum Price1,149.70-10.20-0.88%
Palladium Price822.60-4.55-0.55%
S&P 5002,079.438.170.39%
Dow in GOLD $s318.931.840.58%
Dow in GOLD oz15.430.090.58%
Dow in SILVER oz1,142.2210.900.96%
US Dollar Index97.63-0.04-0.04%

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 rose $2.30 to $1,166.40, on a scintillating range of $6.40 from high to low. Silver fell 2.9 cents to $15.755 out of a 20 cent range, $15.96 - $15.70.

Might as well not have come to work today. No change, SILVER & GOLD PRICES still bumping bottom. If they don't catch her and turn up, then we have to reckon with further downside.

But give 'em a couple of days. What I wrote Friday stands: looks like a buying climax on the US dollar was driving things, and that ought to turn around.

But I reckon I oughtn't overlook the black magic power of Money Creation.

I sort of miss the 18th century. Oh, not the Revolution part at the century's end, but the earlier part. Governments didn't meddle in all your least affairs & tell you how much water you could use to flush your toilet & what lightbulbs to use & try to steal everything from you. Government was usually a carousing, womanizing king who pretty much stuck to his business & left everybody else alone, unless he was French and stealing from the public at a pretty heady tax rate. You could give you allegiance to a country like that where government minded its own business & let you mind yours, taxed just enough, hung highwaymen & malefactors at the city gates, and when they waged war never had armies larger than 7,000 or 8,000, didn't tear up the turf, and strictly left non- combatants alone.

Take George III for example, probably the most upright king England ever had. Never took a mistress, stayed to same wife all his wife and had 15 children by her. He stuck to his science and his farming, left government to his ministers.

Makes you sort or teary-eyed for the good old days, don't it.

Today marks the sixth anniversary of the stock market's advance. That makes it one of the longest-lived in history. Dow bottomed 9 March 2009 at 6,547.05 and S&P same day at 676.53. It will stand as a historical monument to what central bank money creation can do all by itself, without a single shred or particle of economic backing. S&P500 just a tad overvalued at 27 times earnings. Mercy. Gonna hurt when the bubble pops.

US dollar index backed off 4 basis points to 97.63. All else quiet.

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.