|Gold Price, $/oz||1,131.60||6.60||0.59%|
|Silver Price, $/oz||14.78||0.03||0.20%|
|Dow in GOLD $s||297.40||-2.67||-0.89%|
|Dow in GOLD oz||14.39||-0.13||-0.89%|
|Dow in SILVER oz||1,101.48||-5.67||-0.51%|
|US Dollar Index||96.45||0.41||0.43%|
|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|
Y'all listen: The GOLD PRICE fell back to its 20 day moving average yesterday, and today bounced off that 20 DMA. This is normal market zig-zagging, and the zag is upward. Other way-pointers are positive, pointing toward higher prices.
Silver likewise corrected back to its 20 DMA, then today reversed. Silver must break through $15.00 and leave this shilly-shallying behind.
I did some trades for folks today and yesterday where they traded bags of US 90% silver coin (715 ounces) for silver bars and wound up with 20% more silver. Yes, they got 143 more ounces of silver (to 858 oz) merely for shipping the coin. Now the premium on the wholesale buy side of 90% has dropped about 20 cents, but since they're still paying $4.25 over spot for it, those swaps will still net nearly 20% gain in ounces.
I did some gold for silver swaps, too, and I think ended up with 73 ounces of silver for every ounce of gold. Not bad when you are targeting a swap back when it takes only 30 ounces of silver to buy one ounce of gold.
Listen, y'all, that sorry US dollar index hit the 50 Day moving average (96.47) today and crumpled like used tinfoil. Closed down 24 basis points (0.25%) at 96.21, bottom of the day's range. Also posted first half of a key reversal with a break into new high territory and a lower close.
This is not money in the bank certainty -- wait, wait, what am I saying? What could be more UNcertain today than "money in the bank"? Check that, start over. It's not a sure thing that the dollar has turned down and will move below 92, but two failures at the same level is like going to two proms without taking a girl. 'Tain't success, and there is a downtrend in force.
Give your eyelids no rest until you sell your stocks.
Dow today lost 50.58 (0.31%) to 16,279.89; S&P500 dropped 3.98 (0.2%) to 1,938.76.
Dow in gold and Dow in Silver are both below their 200 day moving averages: pointing down, down, down.
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.