|Gold Price, $/oz.||1,156.30||1,183.60||27.30||2.4|
|Silver Price, $/oz.||15.809||16.102||0.293||1.9|
|Dow in Gold $ (DIG$)||305.43||300.68||-4.75||-1.6|
|Dow in gold ounces||14.78||14.55||-0.23||-1.6|
|Dow in Silver ounces||1,080.68||1,069.18||-11.50||-1.1|
|US dollar index||94.88||94.59||-0.29||-0.3|
|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|
What in the world are y'all complaining about? The gold price is getting ready to move HIGHER.
If silver and GOLD PRICE can survive whatever attack comes Monday, y'all will see much higher prices this week. If not and they correct a little, that's okay, too. Silver is targeting $17.86, the gold price $1,300.
Bottom line: hair-pulling agony of the four year correction is behind us, best I can tell from what shows now. Stocks have turned down against gold and silver, which is the sign we were waiting for. US economy is going to get worse, and Janet Yellen will find herself wishing she had taken that job as Walmart greeter instead of moving to Washington. Whoops! Make that Dollar General. Walmart ain't doing so good, Janet.
"Boys, get out the paint! Get gallons of it, 'cause we're gonna need it today! We gonna paint the tape!" So hollered the Boss of the Nice Government Men about 2:00 today. It was one boiling over crisis, Dow down for the day and the week! Flaming danger the suckers on Main Street might be awakened by the obvious. So they sprinted down to Wall Street, whole lot of 'em, and they commenced to painting. They had rollers and brushes and sprayers and they rolled and brushed and sprayed until finally that got that tape painted. Dow rose 74.22 (0.43%) to 17,215.97 and the S&P500 gained 9.25 (0.46%) at 2,033.11, and the country, yea, the nation we all love, the world as we know it, was saved from the Dow closing down for the week.
|Dow in Gold|
|Dow in Silver|
Dow in silver closed up 1% at 1,073.98, and has collapsed worse than the Dow in Gold.
Euro fell 0.19% to $1.1358. Rotten thing has no more face than a whipped dog, just running for cover every time the dollar raises its finger. Ditto the yen, which has now given up all of it breakout upside this week. In a three way race with the Euro and Dollar for "Sorriest Fiat Currency in the Universe."
Just a word about those inflation markets, oil and copper. After breaking out of a pennant and trading up to its 200 DMA, WTIC traded down to its 20 day moving average, caught, and turned up today. That suggests but doesn't prove that the August low was THE low. Copper is still riding on a double bottom August/September. Floating up toward its 200 DMA.
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.