Change : 12.30 or 1.05%
Silver Price Close Today : $ 16.418
Change : 0.307 or 1.91%
Gold Silver Ratio Today : 72.287
Change : -0.614 or -0.84%
Silver Gold Ratio Today : 0.01383
Change : 0.000117 or 0.85%
Platinum Price Close Today : 1150.20
Change : 21.20 or 1.88%
Palladium Price Close Today : 782.65
Change : 8.90 or 1.15%
S&P 500 : 2,114.49
Change : 22.78 or 1.09%
Dow In GOLD$ : $314.75
Change : $ (2.48) or -0.78%
Dow in GOLD oz : 15.226
Change : -0.120 or -0.78%
Dow in SILVER oz : 1,100.63
Change : -18.10 or -1.62%
Dow Industrial : 18,070.10
Change : 46.34 or 0.26%
US Dollar Index : 95.580
Change : 0.140 or 0.15%
|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|
Today the GOLD PRICE shot up $12.30 (1.05%) to close Comex at $1,186.80. The Price of Silver rose 1.9% or 30.7 cents to 1641.8c.
1680 cents mark is still stopping silver. But the uptrend line from the December low has caught every fall and thrown it back like a trampoline. If y'all recall, back in October through half-January, silver formed an upside down head and shoulders. Right now it is the neckline of that formation that is repeatedly blocking silver, so silver is ricocheting between that uptrend line and the neckline. Some break up or down will come. First hint will be a close below 1575c or above 1680c.
The Price of Gold bounced right off that 3-sigma bottom Bollinger Band and tried to get through its 50 DMA ($1,198.24) but failed. $1,214 blocks it now.
Meanwhile the Gold/Silver ratio fell again today, to a new low for the move at 72.287, moving our way and only pennies from the 200 DMA at 71.11.
Behold, and listen! Markets are frozen right now, range trading as if all were well and will be well world without end. This is Sitzkrieg, and after Sitzkrieg cometh Blitzkrieg. All those poor investors who, foolishly suckered by the Fed's tricks, believe their lies and ignore a world economy threatening momentarily to suffer terminal debt apoplexy, will soon learn.
While nobody is saying much, the bond market is about to rip interest rate control out of Janet Yellen's feeble fingers. As you read this, remember that bond prices move opposite to bond yields, and the Fed's Zero Interest Rate Policy has created the Greatest Bond Bubble in All History. When that bubble bursts, well, hang on to your 401(k), Louise.
Not confirmed yet, but swallows and locusts and signs are pointing to the bond bubble bursting. On the 10 Year Treasury Note yield chart here, http://schrts.co/Tbw2GS you see the green dashed downtrend channel from 2014. Within that the 10 year yield formed a falling wedge from February through April, then late in April broke out upwards (red arrow). Now at 2.135% (reads on chart 21.35) it is closing in on the 200 day moving average at 2.192%.
I remind y'all that downward trending markets abide BELOW their 200 DMAs while upward trending markets abide ABOVE. Crossing above that 200 DMA will be a potent and portentous augury for the 10 year yield.
Now, don't be lazy. Go look at the 30 year T bond yield here, http://schrts.co/vHQt6k On 29 April it GAPPED up and broke through the long standing downtrend line that stretches to January 2014. It stands today at 2.869% (chart says 28.69), just one-100th of a basis point below its 2.870% 200 DMA.
I'm jes' a nat'ral born durned fool from Tennessee, so y'all tell ME what all this means. All I know is if those yields bust thew those 200 DMAs, Janet Yellen and her fellow criminals will learn how to sweat bullets and blood.
And here's a back-away from the chart long term view of silver, gold, and stocks. Stocks are topping and before this year is out will cause weeping, wailing, and gnashing of teeth. Meanwhile, silver and gold are bottoming. That's why I watch the Dow in Gold and Dow in Silver, because when it turns we will know stocks have turned down and metals up. Finally, here's a long term view of the US dollar: burnt to a crisp. Had a parabolic rise up, and is not here flotating trying to work higher. Will work lower, fast as it rose in that parabola. That's why I watch gold/US$ Index spread and Silver/US$ Index.
It's like watching somebody drink himself drunk at a bar. Every drink brings the collapse a little closer, but you never know which drink will do it, then he falls off the stool.
Stocks rose modestly still dancing over and under upper trend lines. Today was not the stuff grand advances are made of. Dow lifted 46.34 (0.26%) to 18,070.10 while the S&P500 levitated 0.29% (2.6 points) to 2,114.49. Today does place them above those upper trend lines, but not as high as they have already been in this dance. Could they yet make new highs? Oh, yes -- by triflin' pennies. ("Triflin'" is Southern for something utterly worthless or a person who is always fiddlin' but never brings anything to fruition, or a person who is an utter oxygen-waster and contemptible.)
Dow in gold hit the top gator jaw and hooked down. Dow in silver never rose that high, and today closed again beneath its 20 and 50 DMAs.
US dollar index rose 14 basis points today to 95.58, and now kisses back to the lower trading channel line it broke through on Thursday. Nothing to inspire here, standard reaction move. Would have to climb above 96.50 to overcome the inevitable sucking from below.
Euro lost 0.4% to $1.1152. Speculators haven't yet wholly abandoned the dollar, and that leaves the Euro queasy as it tries to rise. Has to stop and puke every basis point. Airsick.
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.