Wednesday, November 02, 2016

GOLD PRICE Shot Up $20.40 or 1.6% to Close at $1,306.80 on Comex

2-Nov-16PriceChange% Change
Gold Price, $/oz1,306.8020.401.59%
Silver Price, $/oz18.660.281.50%
Gold/Silver Ratio70.0320.0620.09%
Silver/Gold Ratio0.0143-0.0000-0.09%
Platinum Price998.203.100.31%
Palladium Price633.950.400.06%
S&P 5002,097.94-13.78-0.65%
Dow17,959.64-77.46-0.43%
Dow in GOLD $s284.10-5.75-1.98%
Dow in GOLD oz13.74-0.28-1.98%
Dow in SILVER oz962.47-18.61-1.90%
US Dollar Index97.46-0.30-0.31%
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:1,296.00


GOLDFine Tr.Oz.BIDASK$/oz
American Eagle1.001,334.881,339.421,339.42
1/2 AE0.50660.45683.641,367.28
1/4 AE0.25333.46348.301,393.20
1/10 AE0.10135.98141.911,419.12
Aust. 100 corona0.981,263.991,272.991,298.70
British sovereign0.24307.37320.371,360.95
French 20 franc0.19239.54243.541,304.46
Krugerrand1.001,312.851,322.851,322.85
Maple Leaf1.001,306.001,320.001,320.00
1/2 Maple Leaf0.50745.20680.401,360.80
1/4 Maple Leaf0.25330.48346.681,386.72
1/10 Maple Leaf0.10137.38141.261,412.64
Mexican 50 peso1.211,554.651,565.651,298.54
.9999 bar1.001,300.541,308.001,308.00
SPOT SILVER:18.48


SILVERFine Tr.Oz.BIDASK$/oz
VG+ Morgan $B4 19050.7725.0027.0035.29
VG+ Peace dollar0.7720.0022.0028.76
90% silver coin bags0.7213,674.3813,960.3819.53
US 40% silver 1/2s0.305,258.385,408.3818.33
100 oz .999 bar100.001,827.501,862.5018.63
10 oz .999 bar10.00186.25191.2519.13
1 oz .999 round1.0018.2818.7818.78
Am Eagle, 200 oz Min1.0019.9821.4821.48
SPOT PLATINUM:998.20


PLATINUMFine Tr.Oz.BIDASK$/oz
Plat. Platypus1.001,013.201,043.201,043.20

Today is one of those days when events force me to suspect that my cynicism is way too optimistic.

Are any rational or semi-intelligent people fooled by the miasmic word-fog that comes from the Fed and Janet Yellen? We're gonna raise rates, we're not gonna raise rates, employment is rising, employment is fallling, economy is heating up/frosting over, just yak out all the self-contradictory nonsense you can imagine. These folks couldn't beat out a straight answer with a ball peen hammer and a crowbar, because they have no clue what the answer is, what's happening, or how to pour water out of a boot with instructions on the heel.

Why in the world does anybody listen to these fools? I reckon cause they're bigger fools than the Fed fools. Boy howdy, they are gonna be some kind of mad when they figure out how the Fed has scammed 'em! Gonna be decorating lampposts with central bankers.

Stocks broke down today. Dow closed below 18,000 at 17,959.64, down 77.46 and a new low close. S&P500 sank beneath 2,100 to 2,097.94 (down 13.78). Beneath what is there? Only air. Serious avalanching starts soon.

Mercy! GOLD PRICE shot up $20.40 (1.6%) to close at $1,306.80 on Comex. That's not a typo. Silver rose 27.5 (1.5%) to 1866¢.

GO feast your eyes on the gold chart, http://schrts.co/pbxEDM

First look at this: It shot clean through the 50 day moving average and closed above that $1,300 resistance. It has traded back up into the trading channel from which it fell out. (There's a better construction in that sentence somewhere, but durned if I can pull it out.) The MACD is in upward mode and has lots of room to move up. So is the RSI. Volume is good, rising with price. Hellery Clinton's emails are GOOD for gold. This rally will run further.

Silver price chart's here, http://schrts.co/o96FnV

Silver cleared its 50 DMA and has set its sights on that top trading channel boundary. Volume was a little lower today, but was huge yesterday, signifying folks climbing aboard. RSI & MACD still have a ways to run.


About the 8th of November there's a little cyclical top due, which might mark the limit of this run & beginning of a small correction. Regardless, silver & gold prices have begun their next rally, will end the year higher, and will jump into 2017. Better buy.

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