Gold Price Close Today : $ 1,190.30
Change : (2.90) or -0.24%
Silver Price Close Today : $ 16.485
Change : (0.072) or -0.43%
Gold Silver Ratio Today : 72.205
Change : 0.139 or 0.19%
Silver Gold Ratio Today : 0.01385
Change : -0.000027 or -0.19%
Platinum Price Close Today : 1142.10
Change : -6.00 or -0.52%
Palladium Price Close Today : 792.65
Change : -2.30 or -0.29%
S&P 500 : 2,080.15
Change : -9.31 or -0.45%
Dow In GOLD$ : $309.86
Change : $ (0.74) or -0.24%
Dow in GOLD oz : 14.989
Change : -0.036 or -0.24%
Dow in SILVER oz : 1,082.32
Change : -0.50 or -0.05%
Dow Industrial : 17,841.98
Change : -86.22 or -0.48%
US Dollar Index : 94.140
Change : -1.030 or -1.08%
The GOLD PRICE peeled off 2.90 to $1,190.30 on Comex. The SILVER PRICE scraped off 7.2 cents to 16.485.
A flat, range trading market is as frustrating and annoying as a starving chigger infestation -- it just won't leave you alone and comfortable anywhere. Nonetheless, silver and gold prices are holding on with resilience. This is precisely the sort of market that favors accumulation, accumulation, pulling at the leash to rise but as yet held back. Before too long they're going to break that leash. Buy the dips, buy the dips.
Beware the bond bubble! Extending their climb, the 10 year yield today closed with decision and determination above its 200 day moving average. The 30 year bond yield, already above its 200 DMA yesterday, advanced smartly today. Bond prices fall as yields rise, bear in mind, and Bernanke and the Zero Interest Rate Policy have built a bond bubble bigger than planet Jupiter and full of air. The mess will cover everybody when it implodes. Both the 10 and 30 year yields closing above their 200 DMAs is a strong sign the bubble's mortality is about to be demonstrated. No panic YET, but on the horizon.
The bond price drop is worldwide, and seems to have been precipitated by Janet Yellen's comments that stocks and bonds are overvalued. This alone ought to make us suspicious of the whole show. Why would she provoke a drop in a bond market where the Fed's entire policy is so vulnerable, namely, the bond bubble? What good thing can come from the Fed?
West Texas Intermediate Crude rose 0.5% to $60.70, extending its rally. Copper remains floating above its 200 DMA.
Having closed beneath their 20 and 50 DMAs yesterday, stocks plunged further today. Dow lost 86.22 (0.48%) to 17, 841.78, and a new intraday low for the short term move. S&P500 tumbled 9.31 (0.45%) to 2,080.15. A close below today's 2,067.93 intraday low breaks out the S&P500 to the downside out of an even-sided triangle. Bad, bad juju. Mercy, Mercy, because when gravity takes over stocks there will be no mercy. Y'all had better be rolling out of stocks and into silver and gold NOW, not later. Dow in Gold and Dow in Silver dropped again today, so your stocks will buy just a little less silver and gold today than they would have bought yesterday.
Oh, sick at heart is the dollar's chart! Pulled down 103 basis points (1.08%) today to 94.18, new low close for the move. Low came BELOW 94 at 93.96. O fear, ye dollar holders! Fear, and be afraid!
Euro rose 1.46% to $1.1215, yen 0.3% to 83.69.
Here's something y'all ought to know about. Back in 1981 I started the Monthly Acquisition Plan (MAP) to give silver and gold investors a chance to acquire metals monthly, like a savings account. Yearly fee is $12, monthly minimum is $300, and MAP members have the right but not the obligation to participate monthly. THIS IS NOT A STORAGE SCHEME. Every month we deliver your purchase to your door. Our MAP customers invest from $300 to $25,000 a month. Check it out at http://the-moneychanger.com/monthly_acquisition_plan
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.