2015 Gold Price Score Card

	31-Dec-14	31-Dec-15	Change	% Change
Gold Price, $/oz.	1,183.90	1,060.30	-123.60	-10.4
Silver Price, $/oz.	15.565	13.775	1.79	-11.5
Gold/Silver Ratio	76.062	76.973	0.911	1.2
Silver/gold ratio	0.0131	0.0130	-0.0002	-1.2
Dow in Gold $ (DIG$)	311.20	339.72	28.52	9.2
Dow in gold ounces	15.05	16.43	1.38	9.2
Dow in Silver ounces	1,145.07	1,264.97	119.90	10.5
Dow Industrials	17,823.07	17,425.03	-398.04	-2.2
S&P500	2,058.90	2,043.94	-14.96	-0.7
US dollar index	90.62	98.70	8.08	8.9
Platinum Price	1,208.90	891.70	-317.20	-26.2
Palladium Price	798.40	560.80	-237.60	-29.8

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

Above is the scorecard for the year, not the week, and a brutal year it has been for SILVER and GOLD PRICES, down 11.5% and 10.4%. Could have been worse: could have been platinum, off 26.2%, or palladium, off 29.8%. Whoops. Could have been stocks, which closed LOWER this year. Only the dollar gained, 8.9%.

Silver and GOLD PRICES flatlined today. On Comex the SILVER PRICE lost 3.9¢ to $13.775. The gold price moved up a mighty 20¢ to 1,060.30 on a roughly $4.00 trading range. Comex wasted electricity even turning on the lights today.

Both silver and gold prices are sketching out consolidations that will probably prove to be bottoms, but since a (down)trend in force remains in force until gainsaid, we need a sign. A neon sign. A gold price close above $1,088 and silver above $14.40.

I note with passing interest that the GOLD/SILVER RATIO didn't move much at year-end, despite sizeable moves during the year. The ratio rose 1.2% from 76.062 to 76.973. That's an argument for metals turning up.

Stocks tried to rally, but were cooked by 1:00 p.m. Dow lost 178.84 (1.02%) while the S&P500 backed up 19.42 (1.04%). Y'all can expect more of the same next year, more turmoil, more volatility, and MUCH more downside. Both indices start 2016 behind the 8-ball, since both closed today below their 200 day moving average. Not even Wall Street touts can make that look good.

Dow in Gold

Dow in Silver

Dow in Gold and Dow in Silver appear to have confirmed downtrends today, rolling over, if ever so slightly. Dow in silver needs to fall beneath its 20 DMA first, to $1,246.57 ounces from its present 1,268.75. Dow in gold crosses its 20 DMA at 16.40 oz, not far from today's 16.43 close.

If I'm not merely deceiving myself these charts are confirming what I expect from the fundamentals, namely, much lower stock prices and higher silver and gold prices in 2016.

US Dollar

US dollar index closed 98.70 today, up 39 basis points and above the downtrend line. Well, maybe that's broken out upward, and maybe that's solely the outcome of lightly attended markets in a holiday week.

Fed will give rise to all sorts of conspiracy theories if it continues to stand idly by while the dollar rises, crushing American exports, and it raises rates in the teeth of a slowing economy. Somebody might even suggest that the Fed works for somebody other than America. Of course, one might answer that with Occam's Razor, viz., that the simplest explanation is the most likely one. Occam votes for blind academic stupidity, and that's a pretty cogent and comprehensive explanation for the Fed's policies, I must admit. Of course, severe chronic dyspepsia might be another.

In German-speaking lands on New Year's Eve they wish each other, "Guten Rutsch ins neue Jahr!" Good slide into the New Year!

Y'all do your New Year sliding at home. It's safer that way.

May God bless you and yours in 2016 and always with mercy, peace, and truth!

Y'all enjoy your weekend.

Aurum et argentum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2016, 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.

2016 Will Be the Year for Silver and Gold Prices

30-Dec-15	Price	Change	% Change
Gold Price, $/oz	1,060.10	-17.40	-1.61%
Silver Price, $/oz	13.81	-0.09	-0.61%
Gold/Silver Ratio	76.741	-0.68	-0.88%
Silver/Gold Ratio	0.0130	0.0000	0.16%
Platinum Price	871.10	-20.10	-2.26%
Palladium Price	547.75	-7.65	-1.38%
S&P 500	2,063.36	-15.00	-0.72%
Dow	17,603.87	-117.11	-0.66%
Dow in GOLD $s	343.27	0.37	0.11%
Dow in GOLD oz	16.61	0.02	0.11%
Dow in SILVER oz	1,274.35	-0.63	-0.05%
US Dollar Index	98.29	0.12	0.12%

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

PRICE OF GOLD backed down $17.40 to $1,060.10, and SILVER closed the Comex 8.5¢ lower at $13.814.

Silver and gold prices have spent this week regurgitating all the gains of Christmas week. No doubt lots of this arises from tax loss selling. Good side is that it merely offers us an opportunity to buy a little lower.

In spite of the last two days gold prices indicators mostly point up. Don't bother writing to tell me I'm a miscreant and a moron, I'm just reporting the facts, and the facts speak for higher GOLD PRICES. However, gold is only spinnin' tires (we say "tahrs") and throwin' mud until it climbs over that fence at $1,088 and commences running up the road.

Gold Price

The PRICE OF GOLD has made a bottomy-looking sort of upside-down head and shoulders formation, or reversal zone. Still, that needs confirmation by rising above $1,088.

Silver Price

Silver's chart resembles gold's, but looks more like an upside-down HandS. Closed below its 20 DMA today.

SUMMARY: 2016 will be the year for silver and gold prices and the year stocks fall into the abyss, along with the Fed's cockamamie Keynesian schemes. I sure hope y'all aren't in debt, cause 2016 is liable to pull big debtors through a knothole. Might ought to order your house.

Wall Street scanned the sky in dismay today as Santa Claus packed his rally in his sleigh, shouted to his reindeer, and lifted off into the sky, headed for the much-scorned Midwest. "Sorry Christmas to all, and to all a good night!" he yelled over his shoulder. Didn't even drop off a single pair of pointy-toed Eye-talian shoes off for the waiting Wall Streeters.

Dow melted yesterday at 17,750 (2,082.50 for the S&P500), traded sideways most of today, then melted again about 3:30, as if everybody suddenly sold and ran off the trading floor. Dow puked back 117.11 (0.66%) to close at 17,603.87 and the S&P500 scraped off 15.0 (0.72%) to end at 2,063.36.

If they do these things in the green tree, what will they do in the dry? If the Santa Claus rally stumbles like this, what happens when Icy Winter arriveth next week? Both indices are near to closing 2015 lower than 2014. 2014's closes were 17,823.07 and 2,058.90. Tomorrow will tell.

Just in case I have been so mealy-mouthed y'all couldn't catch my meaning, I expect 2016 to be a very bad year for stocks, beginning in January. That augurs in turn the Fed panicking and belching out new torrents of Quantitative Easing, which don't leave the dollar looking too perky, neither. Aww, pay me no mind, I'm jes' a nat'ral born durn fool from Tennessee (but I don't believe in no Santy Claus).

US Dollar

Speaking of the scurvy US dollar index (I reckon I have to, though it's a grief to a fastidious mind), it rose 12 big basis points today (0.12%) to 98.29. It's still trapped below the downtrend line, and the market has gone so stagnant hat it has a blue sheen on it and the 20 and 50 day moving averages have intertwined. To regain momentum for a rally it must close above 100.70, which looks almost as likely as a Poland China sow learning the foxtrot.

Trend in force remains in force until contradicted. It would take a close north of 98.50 to begin to turn the dollar index up. Only hints it might turn up are in the Rate of Change and full stochastics, but they remain hushed hints. Should the dollar break its 200 dma at 96.82, mass confusion would break out. Not that we have much less than that already.

WTIC

Euro rose a token 0.1% today to 1.0932, barely above the 20 DMA but in no haste to rise higher. No ambition. Yen can't rally either. Lost 0.8% today to 82.96 in a market that has done little for the past week.

Oil (WTIC) lost 1.34% to $36.83/barrel. Barely below its 20 DMA. Keeps refusing to break down. Maybe 2016 will be the year for commodities to turn up?

Another inflation market, Copper, bottomed back in November at $2.00 and has traded sideways since. What's at stake? It's hanging over a cliff, and down at the bottom is the 2009 low at $1.25. If copper doesn't hold on here, it's looking at a long fall. So why is it holding on?

Aurum et argentum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 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.

Price of Gold Rose $7.00 Today Closing at $1,077.50

29-Dec-15	Price	Change	% Change
Gold Price, $/oz	1,077.50	7.00	0.65%
Silver Price, $/oz	13.92	0.04	0.32%
Gold/Silver Ratio	77.42	0.26	0.34%

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

Franklin didn't publish commentary today, if he publishes later it will be available here.

Aurum et argentum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 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.

Price of Gold Gave Back it's Christmas Gains and Lost $6.10 or 6.2 Percent to $1,070.50

28-Dec-15	Price	Change	% Change
Gold Price, $/oz	1,070.50	-6.70	-0.62%
Silver Price, $/oz	13.87	-0.50	-3.46%
Gold/Silver Ratio	77.164	2.203	2.94%
Silver/Gold Ratio	0.0130	-0.0004	-2.85%
Platinum Price	880.80	-2.60	-0.29%
Palladium Price	552.00	-7.50	-1.34%
S&P 500	2,056.50	-4.49	-0.22%
Dow	17,528.27	-23.90	-0.14%
Dow in GOLD $s	338.48	1.65	0.49%
Dow in GOLD oz	16.37	0.08	0.49%
Dow in SILVER oz	1,263.48	42.04	3.44%
US Dollar Index	97.96	-0.05	-0.05%

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 and GOLD PRICES gave back all the tiny gains they had struggled to gain in Christmas week. Silver lost 49.7¢ (3.5%) to $13.873 on Comex. The PRICE OF GOLD lost $6.70 or 6.2% to $1,070.50. They are replaying their disappointing performance of December 2014, but remember that both metals came blasting up out of that hole in January 2015.

The price of gold fell back to its 20 DMA but silver really slipped, way below its 20 DMA and clean back to November and December lows. 'Tain't really so rotten. Last 2 month's trading looks like an upside-down head and shoulders, making the right and last shoulder.

Gold/Silver Ratio

So although I am phlegmatic as a toad about the price movement today, I heartily disliked the jump in the GOLD/SILVER RATIO to 77.164 (Comex closing basis). That needs to turn around tomorrow or it becomes a croaking raven sent by the undertaker.

Have I lost my mind? I just can't get rattled about the prospect of silver or gold dropping further. I don't see it. Of course, I'm just a nat'ral born durned fool, and I've been fooled lots of times before.

An article on David Stockman's website today noted that 405 days ago, on 18 November 2015, the S&P500 closed at 2,052 against today's 2,056.50. 417 days ago, on 6 November 2014 the Dow closed at 17,554, against today's 17,528.27. In other words, in the teeth of all they hype that screams you must be in the market and can't stay on the sidelines, you would have made nothing -- and taken on a bucketload of risk -- to own stocks for the last 400+ days.

Think about that. Stocks have churned sideways, striving all year to break out in a new rally, without even a glint of success.

THIS is what a topping market looks like. This perfectly describes the upside-down bowl or rising top that has capped stocks. All the same, the propaganda spewed from the Fed and Wall Street implies that next year will bring another bumper crop of stock profits. Well, y'all believe that if you want, and don't listen to a nat'ral born durn fool from Tennessee, but rather than catching bumper profits, stocks are liable to catch you between two bumpers next year.

Dow in Gold

Dow in Silver

In spite of stocks' relative strength, no new highs have appeared in the Dow in Gold or Dow in silver. Dow in gold remains below its 20 DMA.

US dollar index fell again today, 5 basis points to 97.96, but it's not the drop's amount that hurts, it's the position. Below the 20 and 50 day moving averages. Part of a series of lower highs and lower lows. Smelling like 8 day old mackerel, and pointing further down. Even that can't pull any action out of the euro, which rose a token 0.05% to $1.0970. Yen dropped 0.07% to 83.07. Yen might be headed higher, but it's dangerous to judge such matters based on quirky holiday trading.

I won't be sending a commentary tomorrow since I will be finishing up my monthly Moneychanger newsletter. See y'all again on Wednesday, God willing.

Aurum et argentum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 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.