Wednesday, April 22, 2015

The Gold Price Slipped $16 or 1.3 Percent to Close at $1,186.90

22-Apr-15PriceChange% Change
Gold Price, $/oz1,186.90-16.00-1.33%
Silver Price, $/oz15.79-0.21-1.32%
Gold/Silver Ratio75.163-0.009-0.01%
Silver/Gold Ratio0.01330.00000.01%
Platinum Price1,129.70-22.10-1.92%
Palladium Price755.60-18.65-2.41%
S&P 5002,107.9610.670.51%
Dow in GOLD $s314.175.701.85%
Dow in GOLD oz15.200.281.85%
Dow in SILVER oz1,142.3120.601.84%
US Dollar Index95.000.040.04%

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
Silver & GOLD PRICES are trying to knock out that floor underneath. The gold price slipped $16.00 (1.3%) to $1,186.90 while silver dropped 21.1 cents to $15.791.

The GOLD/SILVER RATIO closed Comex at 75.163, slightly lower than yesterday's 75.172, but there's more there than those bald numbers. Ratio hit a high at 76.25, punched into resistance, then closed lower than yesterday, first half of a key reversal. Second half (a lower close) must follow tomorrow.

Gold's $1,185 low today nearly matched the 14 April low at $1,183.50. That nearly touches the 2-standard deviation bottom Bollinger band and, just below, the downtrend line from the October 2012 high. Wait, did I forget to tell y'all that since April opened gold has been above that line? Sorry. But I might be forgiven because it also traded above that line in January, but couldn't stay there.

If the GOLD PRICE faints here it will fall to $1,165. I expect support there to hold. For one reason, because gold has lately acted as if selling is about exhausted.

Silver Price
The SILVER PRICE low came at $15.65, and silver must hold here or retreat to $15.25 - $15.00. Silver's at its 2-sigma Bollinger band, at support from the December low, at the peak of a falling wedge -- if it can't stop here, it can't stop.

The good news is health conscious consumers are avoiding McDonald's. The bad news is McDonald's net income is dropping worldwide (down 33% Q1/14 to Q1/15). The cRaZy news is that on this earnings report, McDonald's stock rose 3% today.

Even on McDonald's rotten earnings, stocks rose. Dow added 88.68 points as it swings up and down with all the deep meaning of one of those bobbing head dogs in your back car window. Ended up 0.49% at 18,038.27. S&P500 added 10.67 (0.51) to 2,107.96. cRaZy.

Could stocks break out here and move to a new high? Well, they keep stalling at the upper boundary of trading channel/formation, but they are above their 20 & 50 day moving averages -- until they again fall out of bed.

Today saw a little larger move from the Dow in Gold. Up 1.76% to G$314.21 gold dollars (15.20 troy ounces). Dow in silver climbed 1.9% to S$1,479.84 silver dollars (1,144.56 troy ounces).

Okay, so I'm biting nails -- fingernails -- as the DiS approaches that top gator jaw, tomorrow about S$1,491.39 (1,153.5 oz). I told y'all these broadening tops will make you pull out you hair in tufts & handfuls.

US dollar index closed lower, down 7 basis points or 0.07% at 98.14, but not as low as its lowest, 97.61, now under the 20 DMA. Makes that breakout through the downtrend that peaked at 100.27 on 13 March look even more bailed now than it did before. However, Dollar Index must break 96.50 to fall past recent lows. Gravity is in charge.

Nobody's in charge at the euro. It lost 0.08% to $1.0725. Too puny & peak├ęd to lift a leg over its 20 DMA. Sick.

Watching the yen is as thrilling as watching a clock pendulum: up, down, up, down, in the identical range since February. Fell 0.175 today to 83.35. Headed sideways.

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.