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Nothing Yet Convinces me that Silver and Gold Prices have Bottomed

Wednesday, June 22nd, 2011

Gold Price Close Today : 1546.00
Change : 4.50 or 0.3%

Silver Price Close Today : 36.373
Change : 0.308 or 0.9%

Gold Silver Ratio Today : 42.50
Change : -0.238 or -0.6%

Silver Gold Ratio Today : 0.02353
Change : 0.000131 or 0.6%

Platinum Price Close Today : 1747.10
Change : 16.60 or 1.0%

Palladium Price Close Today : 766.75
Change : 19.20 or 2.6%

SP 500 : 1,295.52
Change : 17.16 or 1.3%

Dow In GOLD$ : $162.99
Change : $ 1.01 or 0.6%

Dow in GOLD oz : 7.885
Change : 0.049 or 0.6%

Dow in SILVER oz : 335.14
Change : 0.18 or 0.1%

Dow Industrial : 12,190.01
Change : 109.83 or 0.9%

US Dollar Index : 74.70
Change : -0.328 or -0.4%

The GOLD PRICE continues advancing today, up $4.50 at Comex close to $1,456.00. Why is my enthusiasm not engaged? Trading seems lackluster to me, not much back and forth, and a slow aftermarket. Maybe I’m suffering midsummer lethargy?

Beneath gold now stands $1,535 support and the 20 DMA at $1,534.28. It has reached the last high close, so “Fish or cut bait” time has arrived. If gold does pierce $1,547 then it will run to the all-time high close at $1,563 (Intraday at $1,575). Then we must ask whether it is double topping or continuing a rally.

The silver price, too, keeps steadily creeping up. Today it gained 30.8c on Comex and ended at 3737.3c, above that thorny hedge at 3600c. It’s close to closing through the 20 DMA (3660c), but momentum indicators speak with forked tongue, letting go no secrets.

I reckon I might be missing something, but nothing yet convinces me that silver and gold prices have bottomed, although I expect to see slightly higher prices tomorrow.

As I expected, once stocks penetrated 12,100 they jumped. Dow today closed up 109.83 at 12,190.01, up 0.9%. SP rose 1.34%, 17.16 points to 1,295.52. Let’s ponder this in alternative currencies, in US dollars and in gold.

In US dollars the Dow jumped through the 20 day moving average (12,165) crossing the first tripwire of an advance. First barrier arises at 12,300. Momentum indicators — RSI and MACD — loudly whisper stocks will climb more, and will have to cross that 12,300 bridge when they come to it.

In gold terms the dow rose slightly today, but not enough to pierce its 20 DMA (7.93). Closed 7.88 oz., looks lazy.

Logically, I have no dog in this fight. Not that I don’t own stocks, but I don’t even go to dog fights. Stocks only make sense when an economy makes sense, and the US economy, where folks draw over 50% of income from government, is not a sensible or sustainable economy. I’d about as soon invest in a stable country like Liberia or Sudan. Makes as much sense.

Read an article today that explained WHICH big financial institution victimized the Greek government. Y’all will never guess who — Hey, how’d y’all know it was Goldman Sachs?

Makes it all the more likely that we are now watching the final asset stripping which is the ultimate payoff of the game. Time the jackal banks have finished stripping the corpse everything public in Greece will be owned by somebody foreign.

Think of two people who can’t swim treading water out in the middle of the lake, both clinging and climbing on each other trying to save himself. That’s stocks and the US Dollar.

Today stocks rose on the back of a falling dollar. Dollar relinquished 32.8 basis points to close at 74.701. Dollar remains in an uptrend, in spite of this, but the vigor may be aging rapidly. NGM are sweating bullets and bolts trying to hold the buck down and float the euro, I doubt not. Euro jumped up to its 50 DMA today (1.4416) but closed at 1.4411, up 0.71%. You buy it — I wouldn’t. Nice Japanese Government Men have the yen well in hand, tucked in bed under 125c/Y100 (Y80.22/$).

Sorry, I won’t be sending a daily commentary because I will be finishing my monthly Moneychanger newsletter for paid subscribers. God willing, I’ll be back on Thursday to needle y’all some more.

Argentum et aurum comparenda sunt — – Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2011, 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write “Stay out of stocks” readers inevitably ask, “Do you mean precious metals mining stocks, too?” No, I don’t.

Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/hJ_aPRrlrKM/nothing-yet-convinces-me-that-silver.html

Gold Price Today Made an all Time High Against the British Pound

Monday, June 20th, 2011

Gold Price Close Today : 1541.50
Change : 2.90 or 0.2%

Silver Price Close Today : 36.065
Change : 0.326 or 0.9%

Gold Silver Ratio Today : 42.74
Change : -0.309 or -0.7%

Silver Gold Ratio Today : 0.02340
Change : 0.000168 or 0.7%

Platinum Price Close Today : 1730.50
Change : -26.50 or -1.5%

Palladium Price Close Today : 747.55
Change : 3.05 or 0.4%

SP 500 : 1,278.36
Change : 6.86 or 0.5%

Dow In GOLD$ : $162.00
Change : $ 0.73 or 0.5%

Dow in GOLD oz : 7.837
Change : 0.035 or 0.5%

Dow in SILVER oz : 334.96
Change : -0.93 or -0.3%

Dow Industrial : 12,080.38
Change : 76.02 or 0.6%

US Dollar Index : 75.01
Change : -0.021 or 0.0%

On Comex the GOLD PRICE rose 2.90 to $1,541.50, conquering at long last the $1,540 level. Today it reached $1,547.05, but only on a spike about 9:30 a.m. NY time, then just as quickly dropped back to oscillate above and beneath 1,540. Suspicious soul that I am, I expect the same NGM fighting to keep the dollar down and the euro up are struggling to keep gold from building any steam.

Yet laying aside my paranoia, I can easily allow that the longer term gold chart depicts a market destined to make one more dip before completing its correction. A two-day close above $1,575 would gainsay that expectation, and the GOLD PRICE will have to close below $1,510 to confirm it is turning down. Momentum indicators are equivocal, so there’s no help from that quarter. Seasonality is another consideration, and it points down.

Right, I know, I sound like a government economist: “On the one hand . . . On the other hand . . .”

Last two days have blocked the SILVER PRICE at 3615c, but failed to drive silver below 3490 – 3520. Yet silver remains in a slight downtrend, bounded by 3850c on the top and 3473c on the bottom. It’s a flat trading range, and until silver breaks above 3850c or below 3350c it’s all just noise.

Sorry, folks, I’m not a politician, so when I have no answer, I say, “I don’t know.” That may disappoint those who believe I have a crystal ball, but it’s much easier for me to remember the truth.

It feels as if everybody has gone away on vacation and left off trading. Yet beneath all this sizzles the fuse of Greece’s government default. By the way, the pay off in that game was announced today: Greece will sell of scads of government owned enterprises. May I speculate that they will go for pennies on the dollar, and the ultimate owners will not be Greek, but their names will end with “*-insider”? The game will be complete once the jackals get over the goal line with all those bargain assets in their bag.

Let us begin our meditation with stocks. They rose today, modestly, and not nearly enough to escape ambiguity. Anything under Dow 12,100 speaks out of both sides of its mouth.

Dow closed up 76.02 at 12,080.38 while the SP 500 rose 6.86 to 1,278.36.

On the bright side is the MACD turning up as if it means to rise. 20 day moving average lies far above at 12,175, and stocks need to close thereabove to confirm they are indeed turning up.

All this is odd, as summertime is normally dead for stocks, hence the proverb, “Sell in May and go away.” Against gold stocks are making no headway, yet, but it is conceivable they might be turning up.

It won’t matter whether stocks rally or not, it will merely become one more act in a drama of dashed hopes. Stocks remain the stinkweed in the Great Investment Bouquet.

Yes, yes, I believe this. Financial panic threatens Europe and the euro, and the US dollar sinks today. Sure, I believe that. I believe also in Santa Claus, the Tooth Fairy, The Easter Bunny, the benevolence of government, and the honesty of currency markets — but not so much that last one.

Technically the US dollar index has carved out a double bottom about 74.90, so should continue advancing or at least not fall further as long as it holds that line.

The euro dropped a tee-tiny amount today, .03%, and floateth just beneath its 20 DMA. Bogus, thy name is euro! Japanese NGM are doing their job, keeping the US dollar from rising to more than 125c/Y100 (Y80/$).

I have now lost count of the emails I have answered about the changes that Zero Hedge pointed out that the Dodd-Frank bill mandates in trading silver and gold over the counter come 15 July.

NOW HEAR THIS: the change applies only to margined or leveraged contracts, not to physical metals such as we trade in. This change does NOT mean you will no longer be able to trade in physical silver and gold. It might, however, diminish hedge fund participation for reasons too obscure explain.

And this incident arouses another, deeper question: At what point will y’all say no? When? Have you thought about it? When they come drag you away to prison? Your wife? When they take away your children? When they steal your pension? At what point will y’all begin to say NO to the government? In “Gulag Archipelago” Solzhenitsyn wonders what would have happened if, when the GPU came to arrest folks at night, instead of quivering behind their apartment doors Russians had met them in the stairwell with iron pipes. How long would the arrests have continued, had they done that?

I reckon every man has a different breaking point, but if you have no breaking point are you still a man?

Argentum et aurum comparenda sunt — – Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2011, 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write “Stay out of stocks” readers inevitably ask, “Do you mean precious metals mining stocks, too?” No, I don’t.

Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/BhbF8YN8pFI/gold-price-today-made-all-time-high.html

Gold Price Closed at 1480 Silver Price Closed at 36.23 and Hit 34.25 in Aftermarket

Sunday, June 19th, 2011

Gold Price Close Today : 1480.90
Change : (34.00) or -2.2%

Silver Price Close Today : 36.231
Change : (3.152) or -8.0%

Gold Silver Ratio Today : 40.87
Change : 2.408 or 6.3%

Silver Gold Ratio Today : 0.02447
Change : -0.001532 or -5.9%

Platinum Price Close Today : 1757.50
Change : -68.50 or -3.8%

Palladium Price Close Today : 704.15
Change : -41.70 or -5.6%

SP 500 : 1,335.10
Change : -12.22 or -0.9%

Dow In GOLD$ : $175.66
Change : $ 2.06 or 1.2%

Dow in GOLD oz : 8.498
Change : 0.100 or 1.2%

Dow in SILVER oz : 347.33
Change : 24.26 or 7.5%

Dow Industrial : 12,584.17
Change : -139.40 or -1.1%

US Dollar Index : 74.08
Change : 1.053 or 1.4%

On Tuesday even though I was on the road I couldn’t resist sending y’all a commentary. I called and dictated it but somehow it didn’t get thru my elaborate system. Most important message was (1) Tuesday’s — and now Wednesday’s — waterfalls confirmed that Monday silver and gold broke down. Second, I noticed in the dollar index an upside down head and shoulders in the with a neckline at 73.30. Clearing that neckline set a target of 73.90. Yesterday the dollar index closed 73.13, today 74.084, up 1.35% and 105.3 basis points.

Construed with the crash in oil, commodities, silver and gold, and now stocks, it seems safe to assume that the US dollar index has turned up. The scabrous euro dropped a choking 2.14% today, a move extraordinarily huge for currencies. Yen was more moderate, rising to Y80.15/$ (124.77c/Y100).

How would you argue that the Euro has not broken? Chart shows a one-day plunge through the 20 dma (1.4568). From wildly overbought the RSI has sunk suddenly to near 50. MACD has plainly turned down. Meanwhile the US dollar index, which is made up over 50% of the euro, pushed up thru its 20 dma (74.15) and closed there (dollar at 74.084 is trading lower after the close).

Don’t miss that a phoenix dollar blows its killing, fiery breath over stocks, silver, gold, and commodities — and will for some time.

STOCKS have also plunged over the waterfall, gravity merely is thusfar showing more mercy on them — or the NGM are furnishing water wings. After a down day yesterday the Dow puked up 139.41 points today (1.1%) to 12,584.17. SP500 was right alongside, down 12.22 to 1,335.10 (0.91%). Dow’s chart depicts the plunge more dramatically, and when it breaks 12,500 – 12,450, then the fun will really begin.

SILVER‘s waterfall has poured over the ledge of the 20 dma (4306c) and the cap of the 50 dma (3882c) to plummet to 3425c at today’s low. Closed at 3623.1c on Comex, down 315.2c or 8.7%. Since the intraday high at 4975 last Thursday silver has fallen 27.2%. Always one to remember that gentlemen never say, “I told y’all so,” and always wanting to remain a gentleman, I say no more.

What’s next? Let’s think about GOLD first.

Since its $1,575.10 intraday high on Monday, Gold at today’s $1,480.90 Comex close (down $34) had lost 6%. One could hardly imagine a more dramatic illustration of silver’s greater volatility, 6% down vs. 27.2%. Just don’t forget that it works the same way on the upside when silver outrageously outruns gold. Closing gold/silver ratio was 40.874, up from 32 five bare days ago.

In the aftermarket cosmic forces continued battering silver and gold. Gold traded at $1,466.60 and silver at 3497c. Gold has crashed throughout its 20 dma at $1,498.59 and is narrowing the gap toward the 50 dma ($1,453.72).

Plain and obvious targets are $1,445 to $1,380 for gold and 3358c to 3100c for silver, maybe 2638c in a panic. However, tomorrow, after 5 down days in silver and 4 down days in gold ought to see a small rally. Even a waterfall at last reaches the plunge pool. The correction, however, will not end there.

Long have I droned that this correction does NOT, repeat NOT, by any means mark the silver and gold bull market’s death. The metals — Wall Street gurus with their shiny, pointy shoes and inventories full of stocks to sell notwithstanding — are NOT in a bubble. The correction will leave blood splattered all over the walls, missing teeth, and memories of pain that will mature many, but the bull market will run another three to 10 years. Silver will rise (my guess only) three or four times from its recent peak (yes, whip out those calculators, that equals $187.50 to $200) and gold will at least double. How much they exceed those expectations depends on just how arrogant, stupid, willfully blind and incompetent Bunglin’ Ben can be, and here’s a little tip. Just as PT Barnum quipped that nobody ever went broke betting on the gullibility of the American public, so also nobody every went broke betting on the ability of central bankers to shoot themselves and whole countries in the foot.

Nothing has changed, dear readers, it’s merely a correction.

Rained on us all day Tuesday, no weather for hiking thru the woods to view waterfalls, but Tuesday turned off clear and wondrously cool. Susan took me to Ozone Falls, Upper and Lower Piney Falls, and Laurel Falls. In all we “walked” nearly 10 miles through the woods. Walked earns quotation marks because much of the way was over trails made by water running down 30 degree inclines, hopping from rock to rock and grabbing trees to prevent diving down the abyss. Susan wore me slap out. Today we went to Fall Creek Falls, at 256 feet the highest east of the Rockies. They are so spectacular that even I the wordsmith am left wordless.

Argentum et aurum comparenda sunt — – Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2011, 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write “Stay out of stocks” readers inevitably ask, “Do you mean precious metals mining stocks, too?” No, I don’t.

Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/k_BrYoe_evI/gold-price-closed-at-1480-silver-price.html

Today the Gold Price Closed Above its 20 Day Moving Average

Sunday, June 19th, 2011

Gold Price Close Today : 1516.60
Change : 13.70 or 0.9%

Silver Price Close Today : 38.480
Change : 1.370 cents or 3.7%

Gold Silver Ratio Today : 39.41
Change : -1.086 or -2.7%

Silver Gold Ratio Today : 0.02537
Change : 0.000680 or 2.8%

Platinum Price Close Today : 1799.80
Change : 5.80 or 0.3%

Palladium Price Close Today : 735.15
Change : 4.65 or 0.6%

SP 500 : 1,357.38
Change : 11.09 or 0.8%

Dow In GOLD$ : $173.99
Change : $ (0.47) or -0.3%

Dow in GOLD oz : 8.417
Change : -0.023 or -0.3%

Dow in SILVER oz : 331.72
Change : -10.09 or -3.0%

Dow Industrial : 12,764.52
Change : 79.84 or 0.6%

US Dollar Index : 74.58
Change : -0.103 or -0.1%

Many have pointed to the multiplied times the exchange raised margin levels on silver contracts — at last to $25,000 per contract — as the straw that broke silver’s back. It didn’t work all the other times they raised it earlier, but that is what an exchange will always do to protect itself in a fast-rising market. It’s more a coincident indicator of a top than a cause.

GOLD’S day was quite impressive on a 5 day chart, but not so much on a longer term chart. The GOLD PRICE has made a steady advance from the $1,462 low, and tried to break today twice but was caught by $1,506 after falling $10. No secret, then, $1,506 forms the cover of the well. Break through that, and, it’s a long fall.

Overhead the gold price keeps bumping against the $1,519 ceiling. Today the gold price closed above its 20 day moving average, first tripwire of a rise or fall. Still that top at $1,575.10 (intraday) looks awfully high from here. When Comex locked up, the gold price had gained $13.70 to end at $1,516.60.

Should the gold price batter through $1,525, ’twill make a run towards the last high at $1,575.

That SILVER took its vitamins last night. Rose 137c today to 3848c on Comex. That pulled the gold/silver ratio down to 39.413. 3800c marks important support/resistance for the silver price, not surprising since we have been here, tho briefly, before. For a feel of where the silver price is, look at the 20 DMA at 4271c, a long ways off. Never mind, if silver price lacked enthusiastic buyers and supporters, it wouldn’t have gained 137c today. This reaction rally has not ended yet.

The gold/silver ratio chart shows the ratio skying from 31.44 to 43.89 (intraday). I know that many of y’all MISSED the silver to gold swap when it was lower, and have been calling now to make that trade, which at these levels makes no sense. However, if the ratio reaches 37.6, you have another shot at it, targeting a swap back at 47.5 or higher. I don’t believe the ratio will stop that low, but if you do the numbers, it offers over a 20% profit even with a 6.3% slip from the spot ratio.

And an alert reader found the probable cause of yesterday’s up-spurt in stocks: about 10:15 the New York Fed announced another POMO (Permanent Open Market Operation, or Printing Out Money Obscenely) that it would buy $7.2 billion in US government securities. See http://www.newyorkfed.org/markets/pomo/display/index.cfm?showmore=1andopertype=orig for the obscure and obtuse details. Thus once again we see that when the stock market flounders, the Nice Government Men get busy cranking out more demand, even if they have to buy the stocks themselves.

Count Potemkin was the Russian Tsarina Catherine the Great’s lover and Governor General of the southern provinces. Supposedly when Catherine came to visit the region, left poverty stricken and wretched by his maladministration, he built painted facades of houses to appear as real villages. He would trot out a crowd of healthy, red-cheeked peasants to cheer Catherine as her carriage drove by, then quickly have his crew tear down the village and move it to the next site. Instant villages with instant populations.

Now some of y’all, I’ll bet, will spend several minutes wondering why I told this story right after the story about the POMO.

The US DOLLAR INDEX worked sideways in a correction, edging out on the limb of 74.50. Might take off upside tomorrow or even break that 74.50 and work all the way down to 74, 74.20. Long as the dollar index remains above 74 ’tis still in rally gear.

On renewed worries that Greece might default on its sovereign debt Gold in euros climbed towards its all time high of E1079. Closed at E1052. Euro itself rose a little on the day, to 1.4400.

Now ain’t this strange. A mere 5 days ago the euro was stronger than a garlic milkshake and every speculator, hedge fund, and taxi driver was buying it. Today, alas, it hath no friends as it bumps along its 50 DMA. One must ask, if one is sane, how the Euro today differeth from the euro five days ago, and the answer comes back: not a whit. Same piece of . . . trash. Yet then it was hot as a fritter and today cold as kraut. Y’all beginning to see that fundamentals have nothing in the world to do with currency markets. Well, a little, but not much.

Japanese yen today moved down a tad, to Y80.86/$ (123.67c/Y100), continuing its retreat from an atmosphere too scant of oxygen for easy breathing.

My, O, My, stocks today added 75.68 (0.60%) to approach yet again the 12,800 level. Specifically, the Dow flew up 75.68 to roost at 12,760.36. SP flew to a higher perch at 1,357.16, up 10.87 (0.81%). I only hope somebody remembers to shut the door of the coop so no possum or fox or skunk gets in and carries them away. Weasels, we all know, already thrive on Wall Street.

News from Nashville this morning was welcome. Miss Caroline’s heart is working just fine. Only plausible explanation for her fainting spell is dehydration. Please accept my sincere thanks for your prayers and many comforting emails. Psalm 9:10

Explanations always emerge, you just can’t always identify them at the time.

Argentum et aurum comparenda sunt — – Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2011, 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write “Stay out of stocks” readers inevitably ask, “Do you mean precious metals mining stocks, too?” No, I don’t.

Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/dZ4xu48QkgY/today-gold-price-closed-above-its-20.html

The Best Silver and Gold Buying Opportunity of the Next 10 years in the Next Three Months

Sunday, June 19th, 2011

Gold Price Close Today : 1,493.40
Gold Price Close 6-May : 1,491.20
Change : 2.20 or 0.1%

Silver Price Close Today : 3501.1
Silver Price Close 6-May : 3528.3
Change : -27.20 cents or -0.8%

Gold Silver Ratio Today : 42.655
Gold Silver Ratio 6-May : 42.264
Change : 0.39 or 0.9%

Silver Gold Ratio : 0.02344
Silver Gold Ratio 6-May : 0.02366
Change : -0.00022 or -0.9%

Dow in Gold Dollars : $ 174.35
Dow in Gold Dollars 6-May : $ 175.21
Change : $ (0.85) or -0.5%

Dow in Gold Ounces : 8.434
Dow in Gold Ounces 6-May : 8.476
Change : -0.04 or -0.5%

Dow in Silver Ounces : 359.77
Dow in Silver Ounces 6-May : 358.21
Change : 1.56 or 0.4%

Dow Industrial : 12,595.75
Dow Industrial 6-May : 12,638.74
Change : -42.99 or -0.3%

SP 500 : 1,337.77
SP 500 6-May : 1,340.20
Change : -2.43 or -0.2%

US Dollar Index : 75.723
US Dollar Index 6-May : 74.652
Change : 1.071 or 1.4%

Platinum Price Close Today : 1,765.00
Platinum Price Close 6-May : 1,777.00
Change : -12.00 or -0.7%

Palladium Price Close Today : 709.00
Palladium Price Close 6-May : 706.10
Change : 2.90 or 0.4%

When you stand back and look at markets from a longer term view, sometimes odd things appear. Take this week: after all the huge volatility, especially in SILVER (253c range today alone!), markets barely moved. Okay, silver lost 27.2c, who’s about to open a vein over that? GOLD gained 0.1%, etc., etc., all across the board. Only the much despised scrofulous US dollar gained much this week, 1.4%.

GOLD is fiddling around forming a sort of even-sided triangle bounded by successively higher lows and lower highs. These patterns break out either way, but more downside seems certain. We could, however, see one of those correction uplegs that are so cocky and muscular that they leave you believing the worst must be over, just before they collapse, evaporate, and zero your account.

Market moves, rises or falls, fulfill a fate of time and price. Both must be fulfilled. In silver and gold these corrections usually last 30 – 90 days before they find a bottom. Could happen faster, because strange forces are loose here, but gold has not even broken its 50 DMA yet (now $1,464.16). Not much of a rabid correction, that.

The GOLD PRICE today ranged from $1,516.40 to $1,483.50, a fat band for gold. Comex closed down $13.20 at $1,493.40.

The SILVER PRICE, on the other hand, rose 21.8c to close Comex at 3501.1c. Most of the week it’s been the other way round, gold rising, silver dropping. Picture painted betrays deep confusion. Internal indicator of Gold/Silver Ratio I watch went from extreme oversold to history’s most overbought in eight days! How do you make sense of that? It’s a market in complete turmoil.

SILVER posted what appears to be a sort of upside-down head and shoulders, with the bottom of the head at 3232c on Thursday. Any close above 3600c, or even a sally above that intraday, will send silver rollicking off on a rally. However, I believe it has one more leg down, probably to the 200 DMA (now 2876c, at bottom maybe 2900c or higher). It is so terribly oversold it’s tough not to expect some sort of rally. Yet I am caught: chart does not yet look complete. Needs another push down.

Y’all better be breaking up those piggy banks and digging the change out of your couches, because y’all are about to taste the best buying opportunity of the next 10 years here in the next three months. I mean, of course, SILVER and GOLD at bottom of this correction.

Thursday and half of Friday the US Dollar Index spent in ashes and sackcloth, tracing out a perfect three wave correction that hit bottom at 74.80 about 4:00 a.m. Then it turned and began to climb, slowly at first, then faster when it rose above 75.20. High was struck at 75.949, but it settled back to 75.723, up 48.3 basis points (0.62%). To be closely observed is that the Dollar Index has now left a 75.60 peak below as support. ‘Twill clear 76 next week as momentum favors it: dollar’s now flying above the 20 day moving average and 50 dma. There are roadblocks in the way, but the dollar has time and will probably reach 78.88 or the 200 DMA at 78.33.

One reason the dollars liable to reach those heights lies with the Frankenstein currency, the euro (you can still see the scars and suture tracks where it was stitched together). As it was the best thing since bottled Coke and sliced bread two weeks ago, now it is bubonic plague and athlete’s foot. Nobody wants it, and that shows in a slide from 1.4940 eight days ago to 1.4116 today. Lost another 1/2 percent today, has crept beneath its 50 dma, and not much support appears before 138.40.

Nor does the Yen offer much competition. Today at Y80.77/$ (123.81c/Y100), not much changed. Seems as if the Nipponese NGM are caught in the jaws of a trap: need yen repatriated to rebuild, but let yen rise and export-dependent economy tanks.

Portentous. Foreboding. Ominous. Ill-boding. In the wood you can hear the crows caw as the cold dampness of the mist pours over the ground before the leafless claw of a tree. Can you hear and see all that in your mind’s eye when the Dow closed closer and closer to 12,500 and doom? Today it lost a thumping 100.17 points (0.71%), stumbling to 12,595.75. SP500 lost 10.88 (0.81%) to 1,337.77. Momentum has been pointing down since May 1.

Stocks remain the “Eight Days In An Albanian Prison” on the list of Fun Investment Ideas.

Y’all enjoy your weekend.

Argentum et aurum comparenda sunt — – Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2011, 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write “Stay out of stocks” readers inevitably ask, “Do you mean precious metals mining stocks, too?” No, I don’t.

Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/oA-PM-NZO40/best-silver-and-gold-buying-opportunity.html

I’ll be Surprised if Silver and Gold Prices Don’t Make Another Big Drop

Sunday, June 19th, 2011

Gold Price Close Today : 1501.10
Change : (15.50) or -1.0%

Silver Price Close Today : 35.509
Change : (2.971) or -7.7%

Gold Silver Ratio Today : 42.27
Change : 2.861 or 7.3%

Silver Gold Ratio Today : 0.02366
Change : -0.001717 or -6.8%

Platinum Price Close Today : 1777.60
Change : -22.20 or -1.2%

Palladium Price Close Today : 717.55
Change : -17.60 or -2.4%

SP 500 : 1,342.08
Change : -15.08 or -1.1%

Dow In GOLD$ : $173.93
Change : $ 0.02 or 0.0%

Dow in GOLD oz : 8.414
Change : 0.001 or 0.0%

Dow in SILVER oz : 355.69
Change : 24.08 or 7.3%

Dow Industrial : 12,630.03
Change : -130.33 or -1.0%

US Dollar Index : 75.34
Change : 0.759 or 1.0%

My similes and metaphors may ofttimes want some explanation. When I say that trying to buy in a correction is like trying to catch a falling knife, think about it: you might catch the handle, but you also might catch the blade or point. Better to pick it up after it hits the floor. Yet if you wait too long, you might miss it altogether — the falling knife dilemma.

Some of y’all misunderstood my comments about the gold/silver ratio target for swapping back into silver from gold. I used 47.5 as an example, but I am expecting and hoping the ratio will surpass that mark. Ultimately, 58 may not be reasonable, but I am still pondering while the market unfolds.

Precious metals markets twisted today to bite in the back all those too-quick-to-jump optimists, LO! me among them.

The GOLD PRICE reached $1,562.22 overnight, and then the sellers struck about 7:00 a.m. From there gold avalanched to $1,495.50, but climbed back over $1,500 before Comex closed at $1,501.10, losing — ouch! — $15.50. End of three-day bounce, resume decline. Crossed under the 20 DMA ($1,507.45), and stepped through that $1,505 cover over the well. Well shaft drops clean to last low at $1,462.40. Lower prices to come, $1,445 perhaps, or $1,380, or even the 200 DMA at $1,362.50. Correction hasn’t hit the floor yet.

Plug was pulled on the SILVER PRICE about the same time as the GOLD PRICE. It fell from 7:00 a.m. (EDT) until 1:00 p.m., then slithered along 3500c rest of the day. Comex registered 297.1c lower than yesterday at 3550.9c. Volatility, thy name is silver!

All that has happened is that the silver price rose for three days to reach its 50 DMA (3908c), touched that overnight, then stepped into a hole. Last low was 3315c, next should exceed that. Looking now for 3100c or even 200 DMA at 2867c today — BICBW.

BICBW — but I could be wrong. I always add that because it’s true. Anybody on any day has a 50% chance of being right, and a 50% chance of being wrong. I never substitute my judgment for my customer’s. He might be right and I might be wrong.

But I’ll be surprised if silver and gold prices don’t make another big drop. Not enough time and price have passed for the knife to hit the floor.

US DOLLAR INDEX today took off to the upside. It traced out yesterday and early today a long narrow triangle, down to 74.40, then shot up. Once it cleared 75 it sped up, and came to roost at 75.335, up 75.9 basis points (1.01%). Now the dollar is soaring above its 20 DMA (74.13) and its 50 DMA (75.27). Hard to maintain that it isn’t rallying, because it is. 75.25 was the March low so might offer a little resistance, but more likely is a sprint to 76.61. Rally is only beginning.

Confirming the dollar’s rally was the sagging euro today. Already below its 20 DMA (1.4548), today it sank below its 50 dma (1.4209) and stopped sinking at 1.4195, down 1.5%. Doesn’t matter how high the Euro central bank cranks interest rates if the market is terrified Greece et. al. are about to bankrupt.

Yen fell slightly, trying to decide whether it will abandon its recent rally. Or, more accurately, the Nice Government Men behind the yen are trying to decide.

Every stock index fell today. From the Russell 2000′s down 1.78% to the SP500′s -1.11%to the Dow’s -1.02%, the direction uniformly turned down. Dow closed at 12,630.03, down 130.33 (after the NGM goosed it at the day’s end), nearly kissing its 20 DMA (12,565). The SP500 lost 15.08 to close at 1,342.08.

Stocks remain the arm garters and celluloid collars in the Investment Fashion Show.

Stocks’ momentum has crested and turned down. No matter how many water wings or how high they inflate them, the NGM simply can’t keep the sinking stock market afloat. It’s a bear market, boys.

Argentum et aurum comparenda sunt — – Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2011, 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write “Stay out of stocks” readers inevitably ask, “Do you mean precious metals mining stocks, too?” No, I don’t.

Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/yo7A_fs8C68/ill-be-surprised-if-silver-and-gold.html

Prepare to Load up on Silver and Gold

Sunday, June 19th, 2011

Gold Price Close Today : 1479.80
Change : (10.60) or -0.7%

Silver Price Close Today : 33.488
Change : (0.641) or -1.9%

Gold Silver Ratio Today : 44.19
Change : 0.519 or 1.2%

Silver Gold Ratio Today : 0.02263
Change : -0.000269 or -1.2%

Platinum Price Close Today : 1764.80
Change : 3.60 or 0.2%

Palladium Price Close Today : 720.45
Change : 9.45 or 1.3%

SP 500 : 1,328.98
Change : -0.49 or 0.0%

Dow In GOLD$ : $178.10
Change : $ 0.33 or 0.2%

Dow in GOLD oz : 8.616
Change : 0.016 or 0.2%

Dow in SILVER oz : 380.72
Change : 5.13 or 1.4%

Dow Industrial : 12,749.58
Change : -68.79 or -0.5%

US Dollar Index : 75.41
Change : -0.640 or -0.8%

It is rotten cold here. What’s the matter? It’s May, and last night we went to our grandsons’ ball games and like to froze to death. Nature isn’t living up to our expectations, or maybe it’s global warming. The gummint needs to do something, pass a law or arrest Jack Frost or something.

Here’s another red herring y’all will hear more of: the “crash” in silver and gold and commodities signals that the US is about to enter a “deflationary” depression. Folks who believe this haven’t been paying close attention the last 11 years, or they might have noticed the Fed printing money like a mangy dog scratching fleas every time any financial crisis dared raise even the pate of its head. If I’m wrong, we’ll all sink together, but in one thing I trust the Fed: they WILL inflate.

TODAY’S MARKETS

GOLD did little to encourage its partisans today. Support had been coalescing around $1,488 – $1,490 but when New York opened this morning even the cockroaches in the woodwork were selling. A waterfalling price poured down until it hit the pool at $1,475.80 about 11:30. Then began a modest and restrained bounce that splashed on $1,485. Final score on Comex was down $10.60 to $1,479.80, but trading now at $1,482.30.

Y’all have to learn to be realists looking at charts. As my friend Bob the Technical Genius says, tear the top of the chart and tell me how it looks then. Can’t let your position do the talking for you. Today’s descent blasted any potential even-sided triangle from which gold might stage a rally. The $1,475.80 low didn’t touch the $1,466.44 fifty DMA, but it scared it pretty badly. Market like this will follow thru downside, pierce that 50 DMA and take another tumble as that milestone terrifies the bettors. $1,380 is looking closer, BICBW.

Nothing encouraging about SILVER‘S chart, either. Imprisoned in a downtrend channel from Friday’s high, silver vibrated from one side of the channel to the other like a canary trying to beat its way out of a jug.

Silver’s chart resembles gold’s, without the quota of drama. Opened in New York at 3396c, then fell to 9:30, bounced, and fell more to a 3312c low. Recovery from there wouldn’t inspire you to light fireworks. Climbed as high as 3400c, but not thru. Last on Comex showed down 64.1c to 3348.8c. Rose in the aftermarket to 3380 – 3360c.

The SILVER PRICE now approacheth a congested area from 3121c to 2638c where on the way up it struggled to break free and spread its wings. Astraddle that region is the 200 DMA at 2900c today. Why mention the 200 DMA? Because it has so often in this bull market marked the limit, or nearabout, of silver’s corrections. Of course the 300 dma (now 25.36) has more often marked the maximum limit of silver’s dives.

Yet as puny as silver now appears, a sudden, vicious rally wouldn’t surprise me, since momentum indicators suggest silver today has as many enemies as two weeks ago it had friends. If all those adversaries are short, they have set themselves up for a bad, if temporary, surprise.

Silver and gold prices are wallowing in a passing correction in a long term primary uptrend (bull market). That uptrend will persist another 3 to 10 years, so listen not neither heed the croakers and naysayers who squeek that the precious metals have been in a bubble. Tain’t so. Prepare thyself to load up.

At the low today the Dow had sunk 169.53 points but by closing time had risen to only 68.79 down (0.55%) at 12,479.58. The SP 500 took no such beating, dropping only 0.49 (0.04%) to 1,328.98. Odd disagreement.

Dow fell parlously close to its 50 day moving average at 12,357. That may signal a turnaround into one more rally. Or perhaps the mere nearness of the 50 DMA Kryptonite was enough to drive it up. SP500 punched through its 50 DMA, but didn’t close below it. 50 DMA has limited three of the past four corrections. That is, they reached that point and turned around.

That said, stocks remain the greasy brown ring around the Great Investment Bathtub.

US DOLLAR INDEX held on today, with a low of 75.38. Like some tomcat, the dollar has marked out its territory above 75.40, but whether it’s mean enough and tough enough to hold it asks another question. Up above 75.80 blocks the dollar’s climb. Looks like a market consolidating for another jump up.

Howbeit, just above 76 the dollar strikes the uptrend line running back to July 2008 which it ruptured on its way to the recent 72.69 low. Worse, it’s also bumping against the downtrend line from the June 2010 high, for a second barrier. Unless the dollar can jump 76 and run like a scalded dog, we have to look for a garden-variety Final Kiss Good-bye wherein a broken market rises back to its breakdown point, busses it with a final kiss good-bye, then sinks out of sight.

Yet just like shooting craps in a back alley, never forget that currencies are a rigged game. Yea, clearly the Fed chose to let the dollar drop some years ago and cleaves still to its weak dollar policy, but for some transitory cause (a crisis in the yen or euro) might let the buck rise. This is known as the “Heads we win, tails you lose phenomenon.”

The euro gained about 6/10% today to lodge at 1.4237, way below its 50 and 20 DMA and offering only little wiggles of promise it might one day come back. Must have been earthquakes in Japan today or everybody had a flat tire or something because the Yen gapped down by 0.7%. Now at Y81.42/$ (122.82c/Y100). Whate’er it be utimately, right now it’s posing as a firm downturn.

At 10:00 a.m. on this day in 1792 the New York Stock Exchange was founded under the trees at 70 Wall Street by 24 brokers. By 10:02 they had successfully worked out how they would rig the market.

Argentum et aurum comparenda sunt — – Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2011, 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write “Stay out of stocks” readers inevitably ask, “Do you mean precious metals mining stocks, too?” No, I don’t.

Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/989-ax9wUUM/prepare-to-load-up-on-silver-and-gold.html

Gold Price has Now Drawn a Plain Line at $1,488. If it Sinks Hereunder, Will Sink More

Sunday, June 19th, 2011

Gold Price Close Today : 1490.40
Change : (3.00) or -0.2%

Silver Price Close Today : 34.129
Change : (0.882) or -2.5%

Gold Silver Ratio Today : 43.67
Change : 1.014 or 2.4%

Silver Gold Ratio Today : 0.02290
Change : -0.000545 or -2.3%

Platinum Price Close Today : 1761.20
Change : -3.80 or -0.2%

Palladium Price Close Today : 711.00
Change : 2.00 or 0.3%

SP 500 : 1,329.47
Change : -8.30 or -0.6%

Dow In GOLD$ : $174.05
Change : $ (0.29) or -0.2%

Dow in GOLD oz : 8.419
Change : -0.014 or -0.2%

Dow in SILVER oz : 367.67
Change : 7.91 or 2.2%

Dow Industrial : 12,548.37
Change : -47.38 or -0.4%

US Dollar Index : 75.50
Change : -0.372 or -0.5%

While gold’s action today might have seemed exciting at moments, it was all a mere tease.

The GOLD PRICE climbed off Friday’s low around $1,490, failed at $1,498, but then returned for another challenge and reached $1,504 resistance, where it fainted for the rest of the day. Low hit at $1,488.85, high at $1,504.36. The GOLD PRICE has now drawn a plain line at $1,488. If it sinks hereunder, will sink more.

Just a leetle footnote to that. I allow ’tis also conceivable that the gold price is forming an equilateral triangle, with lower highs and higher lows, which might (1) break out into a continuing rally, but (2) more likely will then fail and drive to a lower low than already has been posted. Ultimately longing for $1,445 or $1,380. BICBW

Comex GOLD today perched at $1,490.40, down $3.00 from Friday.

The SILVER PRICE didn’t show itself even as peppy as bedraggled gold today. Tried to rally today but was whacked on the head at 3526c. Expect to see lower prices tomorrow, especially if it breaches 3350c, today’s low. Down below that last low and support appears at 3235c.

Gold/Silver Ratio rose to 43.670.

Look over your shoulder: time is passing and price is adjusting. This could last another two to 7 weeks. May be interrupted by an impressive rally before it completes its correction.

Dollar index disappointed me a little today. Over the weekend it reached 76, but fell off today all the way to 75.248. Disappointing, but not mortally damaging. This 75.20 area has been support since last Wednesday at least, so let us guess that the dollar index will rise again tomorrow. Today’s break probably arose from the dollar’s first shock at beating its head against 76 resistance. It rallieth still, and remaineth above the 50 DMA. Euro bounced today, up 0.65% to 1.4176. Yen frittered, closed Y80.73/$ (123.86c/Y100).

STOCKS’ daily chart once again looks like a bunch of rags hanging on a clothesline and beating in the wind — up and down, up and more down, and at day’s end giving up. Dow lost 47.38 (0.38%) to 12,548.37 and SP500 gave up 8.3% (0.2%) to close at 1,329.47. Dow is flirting more and more with the deadly 12,500. There awaits a trapdoor and chute to the bottom.

Stocks — don’t head for the poorhouse without ‘em!

It’s always instructive when the outward moral corruption of institutions is publicly mirrored by the inward moral corruption of their principals.

So the IMF and its head, Mr. Dominique Strauss-Kahn, French politico known at home as “The Seducer,” who was for mysterious reasons political appointed head of the International Monetary Fund. The IMF is the enforcer institution of central banking which, after much moral posturing and blather about too much spending, goes in to “bail out” countries while in fact raping their economies.

Oddly enough, that’s precisely what Mr. Strauss-Kahn is accused of in New York. Well, more precisely, a hotel chambermaid accused him of sexual assault resulting in charges including attempted rape, sexual abuse, forcible touching, and unlawful imprisonment. He allegedly trapped the victim in his hotel room, and so forth.

Now Mr. Strauss-Kahn, who allegedly pulled this same trick in France in 2002 but without the charges, deserves the presumption of innocence under our law. However, the New York court denied him bond, even bond of one million bucks, and one presumes he did SOMETHING to earn his nickname.

Zut alors! What did y’all expect from the Grand Poobah idols of central banking? Monasticism? Celibacy? Continence, temperance, and self-control? They RAPE countries, including the USA. Like vampires they suck the lifeblood out of nations. If that do that to nations in public view, what do you imagine they dare to do in private?

Rotten outside, rotten inside. “Power corrupts, and absolute power corrupts absolutely.” Abolish central banking, demolish the buildings, sow the ground with salt.

No peace with cancer!

Argentum et aurum comparenda sunt — – Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2011, 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write “Stay out of stocks” readers inevitably ask, “Do you mean precious metals mining stocks, too?” No, I don’t.

Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/5omMyAXBmp8/gold-price-has-now-drawn-plain-line-at.html

Silver Price Targeting $34 and Gold Price Targeting 1445

Sunday, June 19th, 2011

Gold Price Close Today : 1540.10
Change : (16.60) or -1.1%

Silver Price Close Today : 42.576
Change : (3.502) or -7.6%

Gold Silver Ratio Today : 36.17
Change : 2.389 or 7.1%

Silver Gold Ratio Today : 0.02764
Change : -0.001955 or -6.6%

Platinum Price Close Today : 1846.70
Change : 23.70 or 1.3%

Palladium Price Close Today : 766.04
Change : 1.04 or 0.1%

SP 500 : 1,356.52
Change : -4.60 or -0.3%

Dow In GOLD$ : $171.91
Change : $ 1.85 or 1.1%

Dow in GOLD oz : 8.316
Change : 0.090 or 1.1%

Dow in SILVER oz : 300.82
Change : 22.87 or 8.2%

Dow Industrial : 12,807.51
Change : 0.15 or 0.0%

US Dollar Index : 73.15
Change : 0.104 or 0.1%

Moneychanger’s trip was rained on and it’s no fun hiking to waterfalls in the drizzle.


For SILVER today saw another waterfall. Today’s close takes the SILVER PRICE down 725c in 2 days. Yesterday’s reversal was confirmed. The SILVER PRICE is targeting 3400c unless it closes above 49.75.


The GOLD PRICE has not yet broken it’s 20 moving average ($1,489.78). Continued drop and lower close today confirms yesterday’s key reversal downward in the gold price. Target somewhere from $1,445-$1,382.

Dollar Index rose to 73.145 up 10.4 basis points. It is completing the right shoulder of an upside down head and shoulders with neckline at 73.30. Once it Clears that it will rise at least to 73.90. Probabably though, from a longer view, completing this upside down head and shoulders will mark the beginning of a much longer dollar rally.

Stocks are rolling over downside. Silly NGM manipulation jacked dow up to unchanged at closing. Might as well be King Canute commanding the tide to go out. Stocks will fall.

Argentum et aurum comparenda sunt — – Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 2011, 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down. Whenever I write “Stay out of stocks” readers inevitably ask, “Do you mean precious metals mining stocks, too?” No, I don’t.

Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/BxNDmwrsXOI/silver-price-targeting-34-and-gold.html

Gold Price Closed at 1514.90 -1.7% Silver Price at 39.38 -8.1%

Sunday, June 19th, 2011

Gold Price Closed at 1514.90 -1.7% Silver Price at 39.38 -8.1%

Gold Price Close Today : 1,514.90
Change : -25.20 or -1.7%

Silver Price Close Today : 39.38
Change : -3.19 or -8.1%

Platinum Price Close Today : 1,827.30
Change : -35.20 or -1.9%

Palladium Price Close Today : 746.60
Change : -35.60 or -4.8%

Gold Silver Ratio Today : 38.47
Change : 2.29 or 1.06%

Dow Industrial : 12,807.51
Change : 0.15 or 0.0%

US Dollar Index : 73.10
Change : 0.07 or 0.1%







Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/9mshzl2Wd6M/gold-price-closed-at-151490-17-silver.html