|Gold Price, $/oz||1,106.20||9.00||0.82%|
|Silver Price, $/oz||14.24||0.20||1.40%|
|Dow in GOLD $s||296.85||-6.36||-2.10%|
|Dow in GOLD oz||14.36||-0.31||-2.10%|
|Dow in SILVER oz||1,115.54||-30.48||-2.66%|
|US Dollar Index||99.31||-0.28||-0.28%|
|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|
Like prisoners of war digging a tunnel, silver keeps tapping on the ceiling, trying to break through. Hit that $14.36 high again today, but fell back to a $14.24 close. At least today it bulled its way past the $14.20 that blocked it last week. One more strong push will take it through $14.40 and off to the races.
After last week's little correction, it appears that the GOLD PRICE has begun climbing again. If so, 'twill confirm by closing over $1,113 tomorrow.
Silver and gold prices are packing their bags for a rally. 2016 is the year of their comeback.
A Zero Hedge article at http://bit.ly/1RHCgNZ reports that Norway's biggest bank has now joined the chorus demanding cash currency be abolished. Don't miss what this means: a ban on cash means government and central banking have COMPLETE CONTROL of your wealth. If they want to bail-in your assets to bail out the bank, you are nailed. If they want to force you to spend with negative interest rates on your balance, you're stuck. If they want to cut you off as a non-person, they simply "close your account." Besides, no cash, no bank runs possible. Gotcha!
Remember there's very little cash in the system anyway, about $1,000 per capita in the US. Legally it would be very difficult -- absent the Tyrant's Excuse, an "emergency" -- to ban cash in the US, but that doesn't mean the Fed and banks and yankee government wouldn't try.
Better than paper FERNs (Federal Reserve notes) are gold and silver. Not in a bank, but in your own safekeeping, beyond bail-ins, beyond forced spending, beyond a switch that makes you a non-person.
I say no more. As my old first sergeant used to say, "A word to the wise is suffice."
USE any stock rally to shuck stocks and run for cover.
Euro is vibrating in the nose cone of an even-sided triangle. Rose 0.5% today to $1.0851, but this proves nothing.
Yen is giving back some gains from its China-terror rally. Knocking on the 20 DMA (84.35) now. Closed today at 84.51, up 0.39%.
Oil (WTIC) gave back today all and more than it gained on Friday. Down 5.92% to $30.34/bbl.
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.