|Gold Price, $/oz.||1,085.60||1,094.90||9.30||0.9|
|Silver Price, $/oz.||14.477||14.746||0.269||1.9|
|Dow in Gold $ (DIG$)||334.54||333.99||-0.55||-0.2|
|Dow in gold ounces||16.18||16.16||-0.03||-0.2|
|Dow in Silver ounces||1,213.55||1,199.64||-13.91||-1.1|
|US dollar index||97.35||97.44||0.09||0.1|
|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 today added 5.5 cents to $14.746 on Comex. The GOLD PRICE picked up $6.50 to $1,094.9.
Since the big drop on 20 July the price of gold has spent 9 days moving sideways in a range between $1,080 and $1,104. Middle of that period the gold price dipped down to an intraday low of $1,072.30 but closed the day higher at $1,098.
What about the SILVER PRICE? Where are you, honey?
Today silver traded down to $14.555 cents about 9:00, then shot skyward like a mortar, hit $15.01 and bounced off. Backed off the rest of the day to a low about $14.70. This leaves a double bottom with the low on Monday. Yes, yes, yes.
Gold's MACD has almost turned up, silver's has. Gold's RSI overbought condition has nearly been worked off. If silver and gold don't start climbing next week, I don't know when they will.
I bought silver and gold this week. After that headline claiming gold would sink to $350, y'all ought to buy some, too.
Premium on US 90% coin is very high now, so high you can swap it for 100 oz bars and end with about 12% more silver. Call us at (888) 218-9226.
The US dollar index gained 9 basis points, close enough to flat to call it flat. After a vicious 5 day losing streak, stocks rebounded, but began losing ground again yesterday.
Matching the dollar performance, the Euro shot up through its 20 then its 450 DMA, only to close the day back beneath the 20 DMA. Sorry as gully dirt, even if it did rise 0.45% to $1.0983. Yen also reversed yesterday's breakdown through the uptrend line. Weird going on with currencies. Maybe Nice Government Men getting antsy about a higher dollar?
Stocks ended the week higher and the month higher, barely, but are rolling over noticeably in a rounding top. Lose 600 points-make back 300 points is not a recipe for advancement. Dow today lost 56.12 (0.32%) to 17,689.86 after stalling yesterday. S&P500 gave up 4.79 (0.23%) to 2,103.84. Dow remains below 200 DMA, bad juju like those drums beating way back in the jungle in one of those old Johnny Weissmuller Tarzan movies. S&P500 diverges from the down since it is considerably higher than its 200 DMA (2,104 vs.. 2068.27) and above its 50 and 20 DMAs. Whoppin' crash coming.
Dow in gold dropped 0.96% today to 16.16 oz, and has left behind a series of lower highs. One lower low and the downtrend is complete. Behaving just as it ought if silver and gold have made a bottom and stocks turned down against gold.
Dow in Silver dropped 0.72% today to 1,198.50 oz, and also shows a series of dropping peaks. Other indicators have all turned down.
Y'all enjoy your weekend.
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.