Tuesday, November 01, 2016

Gold Price leapt $14.90 (1.2%) to $1,286.40. Silver Price pole vaulted 3.5% or 62.3¢ to $18.385

1-Nov-16PriceChange% Change
Gold Price, $/oz1,286.4014.991.18%
Silver Price, $/oz18.390.623.51%
Gold/Silver Ratio69.970-1.610-2.25%
Silver/Gold Ratio0.01430.00032.30%
Platinum Price995.1019.301.98%
Palladium Price633.5515.902.57%
S&P 5002,111.72-14.43-0.68%
Dow in GOLD $s289.85-5.13-1.74%
Dow in GOLD oz14.02-0.25-1.74%
Dow in SILVER oz981.08-40.34-3.95%
US Dollar Index97.62-0.66-0.67%
IMPORTANT NOTE: The following are wholesale, not retail, prices. To figure our retail selling price, multiply the "ask" price by 1.035. To figure our retail buying price, multiple the "bid" price by 0.97. Lower commissions apply to larger orders, higher commissions to very small orders.
SPOT GOLD:1,287.50

American Eagle1.001,323.551,330.631,330.63
1/2 AE0.50656.12679.161,358.31
1/4 AE0.25331.27346.021,384.06
1/10 AE0.10135.08140.981,409.81
Aust. 100 corona0.981,255.701,264.701,290.24
British sovereign0.24305.35318.351,352.38
French 20 franc0.19237.97241.971,296.05
Maple Leaf1.001,297.501,311.501,311.50
1/2 Maple Leaf0.50740.31675.941,351.88
1/4 Maple Leaf0.25328.31344.411,377.63
1/10 Maple Leaf0.10136.48140.341,403.38
Mexican 50 peso1.211,544.451,555.451,290.08
.9999 bar1.001,292.011,299.501,299.50

VG+ Morgan $B4 19050.7725.0027.0035.29
VG+ Peace dollar0.7720.0022.0028.76
90% silver coin bags0.7213,645.7813,931.7819.49
US 40% silver 1/2s0.305,217.085,367.0818.19
100 oz .999 bar100.001,813.501,848.5018.49
10 oz .999 bar10.00184.85189.8518.99
1 oz .999 round1.0018.1418.6418.64
Am Eagle, 200 oz Min1.0019.8421.3421.34

Plat. Platypus1.001,010.101,040.101,040.10

Mercy! When I told y'all yesterday to "be patient" waiting for silver & gold to rise, I didn't really think y'all would only have to wait 12 hours. Makes me look sharper than a marble.
News headlines today maintained that Trump's better poll numbers drove gold higher, and, I reckon, the dollar & stocks lower. That's plausible: everybody's looking over their shoulder at the Brexit aftermath, expecting Trump to win. Whether they elect the evil teenager or the blustering teenager in fact won't make much difference economically, as both are communists & believe that government spending actually can help an economy instead of bleeding it dry. But markets don't see that yet.

US dollar index chart can be found here, http://schrts.co/OkJ5UT

Unless you are TERRIBLY far sighted, you will not first the large drop today to 97.62, down 0.67% or 66 basis points after yesterday's one basis point gain. Those unchanged days are unusual, & can produce momentous progeny. Mark also the dollar closed below its 20 day moving average, and right on lateral support about 97.76. Fed meets tomorrow, but can say little to stop this avalanche.

Competing scrofulous, scabby, scurvy fiat currencies profited from the dollar's woe. Euro rose 0.65% to $1.1056 while the yen rose 0.68% to 96.04. Do any of y'all think those two mouse burp currencies really became 0.66% more valuable overnight? None of 'em, dollar included, is backed by anything but confidence. Right, your "money" is a confidence game.
Stocks dropped to new intraday lows and new low closes for the downmove that began in August. When the Dow industrials break 18,000 & the S&P500 punctures 2,100, the rats will STAMPEDE down the ropes for shore, even jump into the waves for safety. Dow today lost 105.32 (0.6%) to 18,037.10 & the S&P500 fell 14.43 (0.68%) to 2,111.72. Weeping, wailing, gnashing of teeth and sweating bullets lie in the near future.

Here's the S&P500 chart, http://schrts.co/vtdPMb See for yourself. Note also volume rising as price declines. As they used to say in the old Tarzan movies, "Bad juju, bwana!"
Dow in gold and Dow in silver have reversed their upward corrections which were occasioned by their correction. That's over now, and stocks are becoming daily cheaper measured by silver & gold.

Gold leapt $14.90 (1.2%) to $1,286.40. Not to be outdone, silver pole vaulted 3.5% or 62.3¢ to 1838.5¢. Platinum jumped 25 or $19.30 to $995.10, & palladium 2.6% ($15.90) to $633.55.

Res ipse loquitur -- the thing speaketh for itself, but let's look closer & see how close I can come to gloating without o'erstepping the line.

Look at the gold chart here, http://schrts.co/pbxEDM

Gold jumped to a high of $1,292, the bottom of a support/resistance zone that reaches from there to $1,300 - $1,305. Great first step. Next, gold, if you please, punch through that bottom channel line and back into your old trading channel. You've already topped the 20 day and 200 day moving averages, now top $1,300 & the 50 DMA. Look for it tomorrow. Fear is a powerful driver. Mark rising volume confirming rising price.
Silver is depicted here, http://schrts.co/o96FnV

Silver did not leap it LAUNCHED through 1800¢. Poked through 1800¢ about 6:00 a.m. Eastern time, and never looked back. High today touched 1851¢. This is not anything like spent, but will run much further.

Must look also at the gold/silver ratio chart here, http://schrts.co/kh9gOy
Remember yesterday I was fretting because the ratio had been moving sideways while ti needed to fall. Today it gapped down from the 20 DAM (71.76) to well below the 50 DMA (69.93) where it ended the day.

Now let's add it all up: dollar tanks taking stocks with it while silver, gold, platinum, & palladium all rise strongly after posting a bottom to a correction. Folks, it's don't get better than this unless Santa Claus is your friend giving you an all-expenses-paid paid American Express card for Christmas.

Argentum et aurum comparanda sunt —
Silver and gold must be bought.
— Franklin Sanders, The Moneychanger
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