|Gold Price, $/oz||1,096.50||-1.30||-0.12%|
|Silver Price, $/oz||13.86||-0.05||-0.38%|
|Dow in GOLD $s||309.15||2.52||0.82%|
|Dow in GOLD oz||14.96||0.12||0.82%|
|Dow in SILVER oz||1,183.58||8.26||0.70%|
|US Dollar Index||98.94||0.35||0.36%|
|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|
Oil slid 4.47% today to a new low at $31.41/barrel (WTIC). The useless media somehow attributed stocks Lilliputian climb to that fall, although just days ago they were connecting lower oil prices to lower stock prices. I'm such a durned ol' nat'ral born fool from Tennessee that still seems like double-talk and self-contradiction. This time last year they were all allowin' as how lower oil prices would be a boon to the economy and therefore to stocks. Don't hear that line much today.
A waterfall is in process. charts on the sides, Picture is the same in both. Now 'splain to me how you stop a waterfall in midair?
US dollar index rose 35 basis points (0.35%) and closed higher, at the top of the range, above the 20 and 50 Day Moving Averages, but at a high lower than previous highs. Not broken yet. Above it is blocked by 99.75, below it must hold on to 97.20. We'll see.
Aurum et argentum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
© 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.