|Gold Price, $/oz.||1,230.40||1,219.80||-10.60||-0.9|
|Silver Price, $/oz.||15.368||14.689||0.679||-4.4|
|Dow in Gold $ (DIG$)||275.40||282.00||6.60||2.4|
|Dow in gold ounces||13.32||13.64||0.32||2.4|
|Dow in Silver ounces||1,066.63||1,132.82||66.19||6.2|
|US dollar index||96.65||98.10||1.45||1.5|
|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|
Owch. The SILVER PRICE tumbled 48.1¢ (3.2%) to $14.689. The gold price stumbled $18.40 (1.49%) to $1,219.80.
|9 Month Silver Price|
Why is a correction good news? Because it will clear the way for the next rally.
Never say never with markets. GOLD/SILVER RATIO pushed through the range's top boundary today and ended Comex at 83.042. Owch. If not an anomaly, I don't want to imagine what it might mean. Way, way overbought, so you'd expect it to fall next week. That implies the gold price would drop and catch up to silver. GREAT time to swap gold for silver. Call us at (931) 766-6066. Here's a ratio chart on the right.
Euro nailed its own coffin shut today, closing below the lower range boundary that has contained most trading since last June. Lost 0.8% to $1.0937. Yen has unarguably broken its uptrend, taking much pressure off the Japanese Nice Government Men. Sank 0.85% to 87.72.
|West Texas Intermediate Crude Oil|
Not much joy in Stockville today. 'Twas a day of steady loss, dwindling, dwindling through the day. Dow gave up 57.32 (0.34%) to 16,639.97. S&P500 lost 0.19% (3.65) to1,948.05. That puts the Dow above resistance (16,600 and the 50 DMA at 15,686) and the S&P500 stalled -- just over the 1,944 50 DMA but feet still tangled in 1950 resistance.
Both can still rise a tad, but not much -- not more than 17,000 and 2,000. This may take another two weeks to unroll.
|Dow in Gold|
|Dow in Silver|
Don't miss the point: back of stocks' rally against metals that began in September 2011 has been BROKEN. Trend change to DOWN. For the next several years, silver and gold prices will gain value against stocks (stocks will become cheaper in silver and gold terms).
On 25 February 1863 the yankee congress passed the National Banking Act, part of the Lincoln government's attempt to float its bonds for an unpopular war. This was the embryo of a central bank in the US, another of Lincoln's crimes.
Susan's eye is growing better day by day. Thanks again for your prayers.
Y'all enjoy your weekend.
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.