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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

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%

posted by Franklin Sanders at 7:17 PM

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

Gold Price Close Today : 1,491.20
Gold Price Close 29-Apr : 1,556.00
Change : -64.80 or -4.2%

Silver Price Close Today : 3528.3
Silver Price Close 29-Apr : 4858.4
Change : -1330.10 or -27.4%

Gold Silver Ratio Today : 42.264
Gold Silver Ratio 29-Apr : 32.027
Change : 10.24 or 32.0%

Silver Gold Ratio : 0.02366
Silver Gold Ratio 29-Apr : 0.03122
Change : -0.00756 or -24.2%

Dow in Gold Dollars : $ 175.21
Dow in Gold Dollars 29-Apr : $ 170.19
Change : $ 5.01 or 2.9%

Dow in Gold Ounces : 8.476
Dow in Gold Ounces 29-Apr : 8.233
Change : 0.24 or 2.9%

Dow in Silver Ounces : 358.21
Dow in Silver Ounces 29-Apr : 263.68
Change : 94.53 or 35.9%

Dow Industrial : 12,638.74
Dow Industrial 29-Apr : 12,810.54
Change : -171.80 or -1.3%

SP 500 : 1,340.20
SP 500 29-Apr : 1,363.61
Change : -23.41 or -1.7%

US Dollar Index : 74.652
US Dollar Index 29-Apr : 73.050
Change : 1.602 or 2.2%

Platinum Price Close Today : 1,777.00
Platinum Price Close 29-Apr : 1,874.90
Change : -97.90 or -5.2%

Palladium Price Close Today : 706.10
Palladium Price Close 29-Apr : 794.45
Change : -88.35 or -11.1%

This week the market taught everyone a lesson that must never be forgotten: markets fall faster than they rise. No exceptions. And markets also taught us a corollary lesson: the four words you are most likely to hear just before you lose copious amounts of money are, “It’s different this time.”

Wherefore, the SILVER PRICE lost 27.4% this week, the GOLD PRICE lost 4.2%, the PLATINUM PRICE 5.2%, the PALLADIUM PRICE 11.1%, and stocks 1.3%. As you might have guessed, the US dollar index rose this week. What better time for the central bankers to spring their trap than when dollar sentiment was universally bearish and euro sentiment universally bullish? How better to punish those fleeing to silver, gold, and commodities from inflation?

Let’s look at the US DOLLAR first because that’s the catalyst for these other markets.

The US DOLLAR INDEX traced out an upside down head and shoulders with a neckline at 73.30. First target for a breakout over that neckline was 73.90. Sure enough, on Wednesday the dollar index jumped from 73.13 to 74.084. Today it made good its gains and confirmed its reversal by ending the day at 74.652, up 45.8 basis points or 0.59%.

For its part the euro poured in a waterfall from its 1.4940 intraday high on Tuesday to 1.4339 today, sinking 1.39% today alone. This smasheth the 20 dma (1.4569) and neareth the 50 dma (1.4254). The Yen today reversed as well, closing at Y80.43/$ (124.33c/Y100). I told y’all that currencies are treacherous, and here you see it. You can trust fiat currencies and central banks exactly as you can trust a rattlesnake — to bite you every time.

STOCKS took sick most of the week. Today the Dow managed to lift its head off the pillow by 54.57 points to close at 12,638.74. SP500 rose 5.1 to 1,340.20. More interesting is that for all gold has lost, stocks have gained little against gold. Dow in Gold Dollars this week rose by G$5.01 to G$175.21 (8.476 oz), remaining in the same range that has prevailed since February. No change there. I am so tried of this charade in stocks I can hardly work up enough energy to insult it. Well, I will try. Investing in stocks remains the Phrenology in the College of Investment Sciences.

The GOLD PRICE lost $64.80 (4.2%) from its high on Monday at $1,475. Low yesterday fell on $1,460. Not surprising anybody much, gold rebounded today $10.30 to $1,491.20. Not surprising because the five day chart shows a completed down move.

However, the SILVER PRICE fell 94.8c to 3528.3c, non-confirming gold’s rise. Question is, which is non-confirming which? Is the silver gainsaying gold’s rise, or is gold’s rise contradicting silver’s fall? I don’t know, but I do remember a market proverb, “Never try to catch a falling knife.” That means, don’t pick a bottom too quickly. Give the market time to work itself out.

Against that I have to balance the still-stinging memory of that January silver and gold price correction which refused to carry nearly as far as I thought (in my arrogance) that they ought. Yet for now, DOWN is the leading direction.

The silver price has sliced with such speed and gravity through its 20 DMA and 50 DMA (38.88) that I begin to remember how often during this bull market the silver price has revisited its 200 DMA, now 2838c. Certainly possible.

GOLD-SILVER RATIO today hit 42.264 at closing, up 10.2 points from its close on 29 April (32%). That correction falls nearly within the the range of 2004 – 2008 corrections, namely, from 33 to 38%. Yet don’t forget 2008′s terror, when the ratio rose 77% from its low.

Silver’s low today came at 3305c, so technically it has fulfilled my first target, and, yes, that might be the end of it. If not, watch for 3120c or even 2638c.

Gold nearly fulfilled my first target at $1,445 by hitting $1,462 yesterday. That also nearly touched the 50 dma ($1,455.49), an often- witnessed reaction target. If gold doesn’t stop there, it might find footing only at $1,382.

Blusterers will bluster, and bubblers will bubble, but never mind all that. Keep your eyes fixed on the horizon, on the long term trend. Silver and gold’s recent moves were NOTHING compared to their blow-off tops in 1980.

More than that, ask yourself why you bought silver and gold, and what’s driving the market: monetary demand born of central bank inflation. Ask yourself which of the fundamentals have changed: has the US government announced it will suddenly pull its troops home and cut spending? Has Ben Bernancubus appeared teary-eyed on TV, repenting of the evil he has done the country, begging forgiveness, and resigning his Fed-head-ship? Has congress abolished the Federal Reserve? Until some or all of this appears, you can relax and hold on to your silver and gold. No matter how the media terrorize you talking of silver and gold bubbles, calm yourself and fix your eyes on the horizon.

And LO! A Reminder: a seasoned investor NEVER sells his bull market position during a correction. He knows that he can never make as much money trading as he can make WAITING.

I understand that many of y’all call and want to talk to nobody but me. I don’t recommend that, since you might wait two or three days to hear from me. Truth is, everybody here is kin, and we all sing the same tune. They’re probably all smarter than I am anyway. I’m pretty sure they think that, at least.

Please do not email me for personal trading advice. It would wholly inappropriate for me to advise you without knowing anything of your whole situation. Everything I have to say to the world is said here in public every day, so I will not answer these emails. If, however, you are interested in buying physical silver or gold from us, we will be glad to help you. Just don’t ask me how to trade your precious metals stock or ETF or futures position.

Y’all enjoy your weekend.

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

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
(888)218-9226

© 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/um4wEApaniU/silver-price-lost-274-this-week-gold.html

Gold Price Close Today : 1502.90
Change : 11.70 or 0.8%

Silver Price Close Today : 37.110
Change : $ 1.827 or 5.2%

Gold Silver Ratio Today : 40.50
Change : -1.765 or -4.2%

Silver Gold Ratio Today : 0.02469
Change : 0.001031 or 4.4%

Platinum Price Close Today : 1794.00
Change : 17.00 or 1.0%

Palladium Price Close Today : 730.50
Change : 24.40 or 3.5%

SP 500 : 1,346.29
Change : 6.09 or 0.5%

Dow In GOLD$ : $174.47
Change : $ (0.71) or -0.4%

Dow in GOLD oz : 8.440
Change : -0.035 or -0.4%

Dow in SILVER oz : 341.81
Change : -16.40 or -4.6%

Dow Industrial : 12,684.68
Change : 45.94 or 0.4%

US Dollar Index : 74.68
Change : 0.028 or 0.0%

Looking at my charts and past data this morning, it’s difficult to avoid the conclusion that the SILVER PRICE has more downside in store. The GOLD PRICE might have made all the correction it intends to make, but that, too, is uncertain. Earlier corrections after Gold/Silver Ratio lows have taken gold down from 4% to 12%. The first we have seen already, and 12% would take us to $1,370. These are possibilities, not predictions.

The Silver Price rallied off Friday’s $33.15 low as high as $38.00, but couldn’t pierce that barrier. On Comex silver added $1.827 to close at $37.11, up a gigantic 5.2% but in the aftermarket it added another 81c to reach a price 7.5% higher than Friday’s. Sharp rises are followed by sharp falls, and often then by sharp but truncated rises in turn. Here we must balance jumping in too soon against missing our chance, a prickly mess. For now my eyes are turned longingly toward the 200 day moving average (now $28.48), so often the target of silver’s corrections in this bull market. Before we see that, however, we might see a rally that jumps as high as $42.00, and it might consume quite a bit of time. I don’t believe silver is ready to take the bit in its teeth and run away upside quite yet. Give it time.

GOLD on Comex re-captured $11.70 to close at $1,502.90. Clearly lots of folks were looking to visit the bargain basement gold sale, but in the aftermarket, after a $10+ rise, gold stalled around $1,513 and fell back a couple of bucks. $1,510 forms the resistance that is bogging gold down, and above that $1,520 will suck at gold’s feet like quicksand. Clearly, then, a close above $1,520 would send gold higher.

Downside remember that $1,462 low. If the gold price breaks that then it will have to do more penance, maybe on its knees.

Keep calm, it is only a correction in an on-going bull market (primary trend) with another three to ten years to run. As you ought not to have succumbed to the hysteria on the upside, you must not succumb to the despair on the downside. Wait. Compose yourself in patience.

Today taught a lesson to all those who arrogantly believe parsing markets is easy.

The US DOLLAR INDEX hit a high today at 75.16, but that was one step too far for a fiat currency that had already run so hard. That completed the move and the rest of the day the dollar backed off and ended at 74.68, up a meager 2.8 basis points from yesterday. It’s a correction, folks, ricocheting in its upward flight off the 50 DMA. Least target for rally reaches 77.40. Buttressing that conclusion is the Euro, collapsing like the Tsarist army at Tannenberg. Yen is sprightlier, but looks like it has played out its upmove as well.

What happened about 11:45? Something to send stocks, which had languished till then, a-soaring. McHugh of www.technicalindex.com, whom I respect, expects one more leg up before the bear resumes his doomed and dreaded mauling.

Dow gained 45.94 to 12,684, SP500 added 6.09 to end at 1,346.29. This is cloud-cuckoo land, for tis a bear market (primary downtrend lasting 15 – 20 years that began in 2000) and no economic reason appears to imply improving conditions in an economy gutted by central banks, banks, speculation, debt, and exported industry and agriculture.

But y’all hold on to your stocks — they’ll make interesting keepsakes for your grandchildren, and who knows, by that time they may have begun recovering.

I have thirteen grandchildren: twelve boys and a single girl, Caroline, Justin and Ellen’s daughter. Five months after she was born (July 2007) her illness revealed a malformed heart. After three miraculous surgeries at Vanderbilt in Nashville, where children’s heart surgery was pioneered beginning in the 1940s, she has a rebuilt and efficient heart. She plumped up and is as active as any four year old.

But today she was out shopping with her mother and grandmother and fainted. Why, no one can say, but her doctors at Vanderbilt wanted to see her, so Justin and Ellen have taken her up there tonight.

Would y’all please pray for Caroline’s complete recovery? I know she is spectacularly beloved because we’ve seen so many miracles in her life already.

On this day in 1913 the 17th amendment to the US constitution was ratified. It provided for electing senators by popular vote rather than by state legislatures, thus depriving states of their representation and converting a federated republic into a democracy. Yes, it did indeed mean that much.

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/~3/4LCQoYwpyGQ/silver-price-rallied-off-fridays-3315.html

Gold Price Close Today : 1530.80
Change : 14.20 or 0.9%

Silver Price Close Today : 47.520
Change : 1.562 or 3.4%

Gold Silver Ratio Today : 32.21
Change : -0.786 or -2.4%

Silver Gold Ratio Today : 0.03104
Change : 0.000739 or 2.4%

Platinum Price Close Today : 1841.20
Change : 18.20 or 1.0%

Palladium Price Close Today : 776.50
Change : 11.50 or 1.5%

SP 500 : 1,375.13
Change : 1.47 or 0.1%

Dow In GOLD$ : $171.84
Change : $ (1.12) or -0.6%

Dow in GOLD oz : 8.313
Change : -0.054 or -0.6%

Dow in SILVER oz : 267.79
Change : -8.35 or -3.0%

Dow Industrial : 12,725.40
Change : 34.44 or 0.3%

US Dollar Index : 73.12
Change : -0.404 or -0.5%

Don’t miss my special offer below.

Sorry I sent no commentary yesterday, but I was finishing my monthly Moneychanger newsletter for paid subscribers, who can log in to www.the-moneychanger.com and pick up the April issue.

Listening to Ben Bernanke today quoted from his press conference yesterday, I was amazed how incompetent he sounded, stuttering like someone telling an uncertain lie. If he’s the best the central bankers have, their gunwales are deeper under water than I even I suspected.

He announced yesterday that his imagination has been surgically removed. At least, that is MY turn on his idiotically continuing the Keynesian nostrums that have so long and with such historical uniformity failed. Poor boy doesn’t have imagination enough to think of anything else. What a punishment, to be subjected to a goof like that!

The US DOLLAR, taking its cue from Bernanke’s announcement yesterday that he would surely keep interest rates low and thereby assuring he would keep on inflating, sank like a lump in a churn. Y’all remember that more than any other factor, interest rates determine currency exchange rates. Euro managers raise euro interest rates, Bernancubus suppresses dollar interest rates, and surprise, surprise, the scrofulous buck sinks against the scabrous euro. It’s the Clash of the Midgets, seeing who can slither down the drain first.

Whooo. That felt good. Now, back to the buck.

Today the US dollar index sank another 40.4 basis points (0.52%) on top of the 53 basis points it threw away yesterday. Trading now at 73.115 on its way to 40 [sic]. Get this: Bernard O’Bama and the Bernanculus are gutting your dollars to please their masters and keep the parasitism dribbling along a while longer. If that don’t make you howling mad, you have no mad gland.

Euro rose like your mama’s house guest sitting on a whoopee cushion (I bet you got one memorable whipping for that!). New high for the move at 1.4817 Yen rose 0.8% to Y81.54/$ (122.64c/Y100).

Let me put this stock thing in perspective for y’all. Stocks are now maybe 20% above December 2010, yet against gold they have actually dropped. Against silver they have dropped a lot, down to 90% of their June 2003 peak value. Y’all see now? I don’t want your stocks, because they are like those smoke bombs they sell for July 4th — all smoke and noise, no bang. In fact, stocks remain the government-approved, OSHA-safe imitation cherry bomb in Tennessee Bob’s Wholesale Fireworks Investment Store. And will remain.

Today the Dow rose 34.44 to 12,725.40, hand in hand with the SP500 which didn’t exactly rise, but, well, barely lifted itself up on the ball of its foot 1.47 points to 1,357.13. Oddly — he always says that when he sniffs blood somewhere — all the other indices fell. That’s confusion, and confusion doesn’t make for strong markets.

I know some of y’all are going to get madder than a wet wasp, but I have to flip the switch on the caution light on SILVER and GOLD PRICES. After the Bernancubus glued the accelerator pedal to the floor yesterday, silver and gold prices took off wildly. But bear in mind that it is not unusual for the SILVER PRICE to top one day, then the GOLD PRICE to top a few days later. Key is that the Gold/Silver ratio, after a new low 25 April at 31.996, shot up to 33.36 the next day. In all silver and gold’s recent upside downs, that hasn’t happened. But maybe I am only nervously anticipating when I ought to be contentedly enjoying. Still, a live dog is better than a dead lion.

Today the gold price made a new intraday high at $1,538.30 and a new closing high (all-time since the beginning of the cosmos) at $1,530.80, up $14.20 on Comex. Low came at $1,524.10. In the aftermarket gold’s playing footsie with $1,536.

Only target I have to work off is that upside down head and shoulders gold broke out of. That points to $1,525 – $1,557. The gold price would have to close below $1,505 to invalidate this rally.

Ohhh, I HATE parabolas, and silver’s chart clearly shows one. They are rally killers, and on this drive the silver price will need every sinew and ounce of strength to burst through that historic brick wall at 5000c per ounce. If it does, it will run straight skyward.

Yet — O, absolve me, Silver Bugs! — I had rather capture my silver profits now by swapping silver for gold and miss part of that move, than see the reaction take them all away. Swapping for gold, I will at least get to swap back for MORE silver when the ratio rises. Not swapping, I will only get to cherish the warm, fuzzy memory of reading all those Internet gurus who convinced me the silver price will reach $100 by next Friday.

The SILVER PRICE has a threatening double top, reached Monday and today, at 4982c and 4950c. The silver price must clear 5000c immediately and not fall below 4725c, or succumb to the Kryptonite of fifty bucks. This situation is as full of tension as your cheeks when you suck on to a firehose. Here it shall not remain, but must advance or fall back.

SPECIAL OFFER

Because the last Special Offer sold out so fast, I promised y’all I’d come up with another soon, so here ’tis.

Gold Coins Under US$100:

Offer # 1. Mexican two pesos. Contains 0.0482 troy oz. gold, about 1/20 oz. At a 5.6% premium I can sell 30 ea. Mex 2 p @ US$78.20 ea = $2,346.00 + $25 shipping = $2,371.00 total per lot.

Offer # 2. Mexican 2-1/2 pesos. About 1/16 ounce with exactly 0.0603 oz gold. Also at 5.6% premium, so 30 ea. Mex 2-1/2 p @ 97.80 = $2,934.00 plus $25 shipping = $2,959.00 total per lot.

More Imperial German 20 Marks.

Offer # 3. German 20 Marks. Minted nearly 100 years ago, before 1915, 0.2304 troy oz. At 4.36% premium, order 10 ea. German 20 M @ $369.50 ea., or $3,695.00 + $25 shipping = $3,720 per lot.

Offer # 4. South African Two Rands. Same size as the British sovereign, 0.2354 troy oz, but lower premium at 3.6% over gold. 10 ea. S.A. 2 Rands @ $374.90 = $3,749.00 + $25 shipping = $3,774.00 total per lot.

A very few more US $5 and $10 Commemoratives.

Offer # 5. U.S. $5 and $10 modern commemoratives. I found only 36 ea of the $5 (contains 0.2418 oz gold) at $386.15 and 4 ea of the $10 (0.4838) at $772.30. Premium over gold content for these is 3.9%.

I will sell lots of Eight (8) each $5 gold commems for $3,089.20 + $25 shipping = $3,114.20 per lot. A $10 gold counts as two $5 golds, so you can order one $10 and six $5s and that equals Eight $5s.

For this item only, limit one (1) lot per customer.

Offer # 6. Mixed Peace and Morgan silver dollars. I have two lots only of mixed VG+ Peace and Morgan silver dollars at a 10.9% or $40.50 (0.765 oz silver each) One lot is 120 ea at $40.50 ea or $4,860 + $35 shipping = $4,895 per lot. Note that these are the circulated US silver dollars minted before 1936 in VERY GOOD or better condition, so all will show some wear, some much wear, but all will be FULL VG with no rim dings, nicks, etc.

Conditions:

Orders by e-mail only. Please do not call.

We will not take orders for less than the minimums shown above. You may order more than one lot for everything but the US commems, but not in increments of less than one lot. That is, you may order 30 Mexican two pesos or 60 or 90, but not 36 or 45.

First come, first served, and no re-orders at these prices. I will write orders based on the time I receive your e-mail.

Spot gold basis for all prices above is $1,536.60.

Friendly advice: When you order, list the alternative lots you will accept, in case what you order has already been spoken for. That way your timely response will at least be rewarded with something., ORDERING INSTRUCTIONS:

1. You may order by e-mail only to . No phone orders, please.

Your email must include your complete name, address, and phone number. We cannot ship to you without your address. Sorry, we cannot ship outside the United States or to Tennessee. Please mention you saw this special offer on goldprice.org.

Repeat, you must include your complete name, address, and phone number. Our clairvoyant quit without warning last week and we can no longer read your mind.

2. Orders are on a first-come, first-served basis until supply is exhausted.

3. “First come, first-served” means that we will enter the orders in the order that we receive them by e-mail.

4. If your order is filled, we will e-mail you a confirmation. If you do not receive a confirmation, your order was not filled.

5. You will need to send payment by personal check or bank wire (either one is fine) within 48 hours. It just needs to be in the mail, not in our hands, in 48 hours.

6. We allow fourteen (14) days for personal checks to clear before we ship. If your hurry is greater than that, you can send a bank wire. Once we ship, the post office takes four to fourteen days to get the registered mail package to you. All in all, you’ll see your order in about one month.

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.@the-moneychanger.com

Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/lrZU3y2peyA/caution-light-on-for-silver-and-gold.html

Gold Price Closed at 1516 Silver Price Closed at 45.96

Gold Price Close Today : 1,516.70
Change : 13.70 or 0.9%

Silver Price Close Today : 45.96
Change : .91 or 2.0%

Platinum Price Close Today : 1,825.20
Change : 12.80 or 0.7%

Palladium Price Close Today : 757.80
Change : 2.40 or 0.3%

Gold Silver Ratio Today : 33.00
Change : -0.36 or 0.99%

Dow Industrial : 12,595.37
Change : 115.49 or 0.9%

US Dollar Index : 73.30
Change : 73.30 or 100.0%

Editors Note: Franklin may not be publishing commentary today, if he does we will publish it here.

posted by Franklin Sanders at 10:02 PM

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Article source: http://feedproxy.google.com/~r/SilverAndGoldPrices/~3/AVb-41uYQJo/gold-price-closed-at-1516-silver-price.html

Gold Price Close Today : 1503.00
Change : (5.60) or -0.4%

Silver Price Close Today : 45.050
Change : (2.099) or -4.5%

Gold Silver Ratio Today : 33.36
Change : 1.366 or 4.3%

Silver Gold Ratio Today : 0.02997
Change : -0.001280 or -4.1%

Platinum Price Close Today : 1804.50
Change : -20.10 or -1.1%

Palladium Price Close Today : 751.90
Change : -7.90 or -1.0%

SP 500 : 1,347.24
Change : 11.99 or 0.9%

Dow In GOLD$ : $173.23
Change : $ 2.24 or 1.3%

Dow in GOLD oz : 8.380
Change : 0.109 or 1.3%

Dow in SILVER oz : 279.59
Change : 14.90 or 5.6%

Dow Industrial : 12,595.37
Change : 115.49 or 0.9%

US Dollar Index : 73.77
Change : -0.231 or -0.3%

It pays always to keep your eyes on the horizon, so that the confusing details around you assemble themselves into a larger picture.

From a friend in Iowa I received an email reporting that a friend had gone to buy a US$7,300 piece of farm equipment. When it came time to pay, his friend asked the dealer, “Do you want paper, silver, or gold?”

The dealer brightened and said, “Silver, and I’ll give you a discount if you pay in silver.”

Behold, the new economy! Here behold the goal and means to free ourselves of the Federal Reserve’s fiat money tyranny and economic slavery: we stop using their phony private money and return to [quite legal and constitutional] gold and silver money. We remove ourselves from the economic storms caused by their rotten currency and crooked banking and we rebuild our local economies on a sound silver and gold basis.

Just try it. Next time you pay, ask the person whether they want paper, gold, or silver. See what happens. Worst they can say is NO.

Also, the ever-sagacious Catherine Austin Fitts and I teamed up to create www.silverandgoldaremoney.com. There you can punch in any US dollar amount and in real time convert that to a payment in US 90% silver coin, US gold or silver American Eagles, or a host of non-US gold and silver coins and bullion.

Next time you hand somebody green paper dollars or a credit card, just remember: you are forging your own chains.

And forget the US government threats and persiflage: you have a constitutional and common law right to contract for any payment you please. More than that, all gold and silver coins ever minted by the US government remain “legal tender.” Using gold and silver coin is not “bartering”, it’s MONEY.

You forge your own chains.

MARKETS TODAY:

We trod not the office steps yesterday, but observed for Easter Monday. Considering yesterday’s fireworks, that probably was a great idea.

I know y’all only want to know about silver and gold, but be patient: it all works together.

THE US DOLLAR INDEX has sunk 32.3 basis points since last Thursday, from 74.096 to 73.773. Today alone it lost 21.3 more bp, 0.27%.

Yet look not smugly on. Today the dollar formed a falling wedge, which promises that tomorrow, if it breaks not below 73.744, ’twill rise tomorrow.

And that would surprise. Breaking down past the last low, 73.74, and the December low, 74.23, targets the dollar for 72 or lower. The scabrous euro took advantage of the buck’s swoon to rise to another new high for the move (ho-hum) at 1.4643, up 0.77%. Even the yen has gapped up and headed higher. Today it’s trading at Y81.55/$ (122.62c/Y100).

Only sign this situation might turn around is that falling wedge on the dollar’s daily chart.

Baldly stated, I don’t believe the stock market, or more precisely, I DISbelieve the stock market. No economic reason exists for its rise, except the Fed and other central banks pumping out zillions of new money which all runs straight into financial markets. Add to that the Nice Government Men on the Plunge Protection Team steadily meddling in the market, following the Spirit of Potemkin to keep up a cardboard front screening the real and rotten economy.

Today the Dow rose to a new high for the move, 12,595.37, up 115.49. The SP500 rose 11.99 to 1,347.24.

Hey, here’s an idea! Instead of investing your money in stocks, why not take a couple hundred thousand bucks out into your back yard, bury it, and see if a money tree comes up?

There are very few overnight certainties in markets, but it appears that yesterday silver turned down, and gold will probably break as well.

The SILVER PRICE sank 10.5% from its 4985 high Monday to a 4464.7c low. One expects to see that sort of move on a trend reversing day.

I hasten to add that this is no certainty, as every forecast dwells in a foggy nimbus. But a quick calculation shows that if this is the break, then the target might be 3360.

Y’all must bear in mind that the more overhyped and overblown a market becomes, the more severe the following reaction. Every hedge fund in the world has hopped on to silver, and they have almost as much loyalty as a 1915 Irish draftee in the British army. They will dump silver by the truckloads as soon as they sniff a break.

The naïve think this is terrible, that the bull market has ended, that it proves silver is in a bubble. Nothing could be further from the truth. It is a normal process in every market, and clears away the grotesque over-optimism to make way for another advance.

Biggest argument AGAINST a correction in precious metals remains GOLD. It sank a paltry $5.60 today to close Comex at $1,503.00, but that offered no damage. The SILVER PRICE on the other hand fell 209.9c to 4505c, down 4.5% in one day. The gold/silver ratio fell 4.26%, too.

Once the gold price crosses that $1,500 wall protecting investor morale, it will tumble, too. Target there might be $1,445.

On the upside, the silver price needs to close over 5000c and gold above $1,525 to suggest that this rally hath yet legs.

On this day in 1983 the Dow Jones Industrial Average broke 1,200 for the first time. I recount that incident to impress upon y’all’s minds how far markets can outrun our imagination. The ultimate Dow High was 11,722, about ten times that 1983 figure.

In Florida and Georgia today is Confederate Memorial Day. It was yesterday in Mississippi.

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

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
Phone: (888) 218-9226 or (931) 766-6066

© 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/IDiznqAjxCk/gold-and-silver-coins-are-money.html

Gold Price Close Today : 1,503.20
Gold Price Close 15-Apr : 1,485.30
Change : 17.90 or 1.2%

Silver Price Close Today : 4606.2
Silver Price Close 15-Apr : 4256.6
Change : 349.60 or 8.2%

Gold Silver Ratio Today : 32.634
Gold Silver Ratio 15-Apr : 34.894
Change : -2.26 or -6.5%

Silver Gold Ratio : 0.03064
Silver Gold Ratio 15-Apr : 0.02866
Change : 0.00198 or 6.9%

Dow in Gold Dollars : $ 171.98
Dow in Gold Dollars 15-Apr : $ 171.79
Change : $ 0.19 or 0.1%

Dow in Gold Ounces : 8.320
Dow in Gold Ounces 15-Apr : 8.310
Change : 0.01 or 0.1%

Dow in Silver Ounces : 271.50
Dow in Silver Ounces 15-Apr : 289.98
Change : -18.47 or -6.4%

Dow Industrial : 12,505.99
Dow Industrial 15-Apr : 12,343.16
Change : 162.83 or 1.3%

SP 500 : 1,337.38
SP 500 15-Apr : 1,319.68
Change : 17.70 or 1.3%

US Dollar Index : 74.096
US Dollar Index 15-Apr : 74.873
Change : -0.777 or -1.0%

Platinum Price Close Today : 1,816.50
Platinum Price Close 15-Apr : 1,791.50
Change : 25.00 or 1.4%

Palladium Price Close Today : 768.85
Palladium Price Close 15-Apr : 769.70
Change : -0.85 or -0.1%

Our office will be closed to observe Good Friday, Easter, and Easter Monday. We will return on Tuesday, 26 April.

Yet another week to stretch your credulity: the SILVER PRICE up 8.2%, the GOLD PRICE up 1.2%. No, those are not typos. All else besides seems anemic.

What has come clear this week? That Bernard O’Bama and Blundering Ben Bernanke are destroying the dollar, yes, stringing it up by the hooves, slitting its belly, and gutting it. Had I been a fly on the wall, I could now report when the decision was made in the Bushite administration to depreciate the dollar, and when Bernard and Ben decided they would fix the economy by eviscerating the dollar. Or mayhap there is some deeper conspiracy, some destroy the dollar and replace it with the Bongo or whatever Frankenstein currency our Great Ones desire. This much is clear: they balk not at stealing the wealth of every American by depreciating the dollar.

What loosed this tirade? US DOLLAR INDEX today dropped 27.2 basis points to 74.096, down 0.35% and most critically, through the Dec 2011 low at 74.23. Next logical target is 71.25, maybe the 2001-2008 low at 70.70. As yet the chart signals no turnaround.

The moldy euro reacted by making a new high for the move at $1.4542. Yen gapped up to Y81.83/$ (122.2c/Y100).

Did y’all ever walk through a house of mirrors at a fair? Remember how the mirrors distort everything, some make you skinny, some fat, some make your head tiny and your body huge? That’s how the stock market makes me feel. No economic outlook is pushing it higher, no fundamental strength, yet it powers higher, driven by mysterious forces with the initials NGM. Clearly, they have taken over the Potemkin stock market to cast before the mushrooms’ eyes the illusion of prosperity.

It is never a smart idea to mock reality, because reality always has the last word. The stock market is riding a wave of new money and government manipulation. This will end badly.

Investing in stocks is like substituting oven cleaner for Wildroot Hair Oil. It won’t make your hair shine and you’ll have to part your scalp.

SILVER and GOLD PRICES are just about as crazy. The SILVER PRICE up 8.2% in one week? What’s bad about this? Y’all are going to start expecting it all the time, and this is not a normal move. It is NOT different this time, and it never is.

What is it then? It is a bull market in a fiercely strong upwave, and all that has been accelerated by Ben Bernanke’s Bundles of Bucks. Yet I am not pointing to its end, because the GOLD PRICE could reach $1,600 and the SILVER PRICE 5000c. Seasonal highs almost without exception occur before mid-May, and June, July, August, and September have not for the last eleven years shown any high.

And if some goof tells you silver and gold prices are “in a bubble,” just smile and don’t squander any words enlightening his darkness. Compared to the 1980 peaks, silver and gold prices are hardly moving. No, I am not joking, and have the charts to prove it. The precious metals bull market has AT LEAST 3 to 10 more years to run, and silver may nearly quadruple from here while gold rises another four times, too.

Here’s what makes trading or investing so hard: you have to look at the sturdy present and envision the unseen future. At its 400c low, who could imagine silver at 4600c, over 11 times as high? A few did.

In the same way, you must look at the markets everyone is panting after and envision them when the fickle crowd has cast them aside. Think “real estate.” “Beanie babies.” “Tech stocks.”

TODAY the gold price hammered clean through $1,500 resistance to close at $1,503.20, up $4.90. The real barrier here is $1,505 (as $1,405 was earlier). When gold breaches that breastwork, probably next week, it will shoot higher still and you will drop quoting it in the fourteens and get used to quoting it in the fifteen hundreds.

GOLD’s short term chart has a wedgey look I don’t like, so next week might see some correcting before bursting through $1,505. As long as gold remains above $1,490 it will continue rallying.

SILVER rose 159.7c today to close at 4606.2c. It’s following a pattern of breaking into new high ground during the day, then adding 30 – 50c in the aftermarket. Right now it’s trading 4664.

The only argument against silver right now is its own success. Its rise is looking more and more parabolic, and that usually signals the end of a move. It’s more overbought than sushi at a tom cat convention. I confess, there’s not much way to predict where it will run, or where it will stop, but the wilder it gets, the worse will be the eventual hangover.

Still, as long as silver remains about 4500 or 4550c, it will keep on raging. That 115c discount on the wholesale buy side of US 90% silver coin leaves me very antsy.

On this glorious day in 1836 the Republic of Texas made good its independence by defeating the army of Santa Anna at San Jacinto.

Y’all enjoy your Easter holiday.

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

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
Phone: (888) 218-9226 or (931) 766-6066

© 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/xciSIPFjJsc/silver-price-up-82-in-one-week-gold.html

Gold Price Close Today : 1242.00
Change : 3.80 or 0.3%

Silver Price Close Today : 18.594
Change : (0.084) -0.4%

Gold Silver Ratio Today : 66.80
Change : 0.504 or 0.8%

Silver Gold Ratio Today : 0.01497
Change : -0.000114 or -0.8%

Platinum Price Close Today : 1541.50
Change : -223.30 or -12.7%

Palladium Price Close Today : 452.00
Change : -268.45 or -37.3%

SP 500 : 1,041.24
Change : -33.33 or -3.1%

Dow In GOLD$ : $164.28
Change : $ (4.97) or -2.9%

Dow in GOLD oz : 7.947
Change : -0.240 or -2.9%

Dow in SILVER oz : 530.83
Change : -11.97 or -2.2%

Dow Industrial : 9,870.30
Change : -268.22 or -2.6%

US Dollar Index : 86.13
Change : 0.479 or 0.6%

Well, Candide, it was the best of all possible worlds today. Everything went up.

Dollar index was knocked off its 75.40 limb, fell as 75.13, but clawed its tomcat way clean up to 75.425, a gigantical 2.6 basis points above yesterady. That may end the dollar’s woes for a few days. However, should the dollaar fall below todays 75.13 low, it will disappoint its fans and sink like your car keys out of your shirt pocket when you lean over the gunwale of the bassboat.

Even the Franken-currency, the euro, climbed today, to 1.4238, up 0.01%, barely visible. Yen, on the other hand, fell another 0.33% to Y81.69/$ (122.41c/Y100).

The Dow reversed today and climbed steadily 80.60 points to 12,560.18. Resisance reaches from 12,550 clean to 12,650. Maybe this begins the last push up. SP500 joined the fun, adding 11.7 to close at 1,340.68.

As the old saying goes, lean on that weak reed and it will pierce your hand. Stay away from stocks. They are the poison oak in the Nursery of Investment Plants.

By the way, the Dow in Gold Dollars, which measures stocks by gold, remains below its 200 day moving average (DMA), therefore trending lower.

SILVER and GOLD came out shaking their heads and lusting for revenge. They got it.

Gold’s low yesterday became the springboard for a rally today. From yesteray noon gold steadily gained, reacyhing the disputed $1,490 level. Today it went battering against he gate at $1,500, but without breaking it down. After a sudden rise — what do you call that? Escalation? More like levitation — aboiut 9:45, gold soared clean to $1,500, tried thrice to pierce it and failed, then fell off. Comex close found gold up $1,5.80 at $1,495.60.

Five day chart is in rallying mode, but blocking the path stands $1,500. Above that is $1,505. More broadly, none of this back and forth gains any credit until gold betters $1,525. Yes, it’s exciting, but essentially merely burns up ammunition. Can’t know it was valuable until it tops one of those big numbers. Today’s chart whispers that $1,515 is possible in the next two days. Still I suspect, fun as all this may be, that gold hasn’t posted is bottom yet.

From its 3300c low about noon yesterday silver went sild today. From a 3411c low it reached 3524c today, and closed near that at 3509.40 on Comex, up a glorious 160.6c, an eyegoggling 4.8%!

Aftermarket has remained high at 3613c.

SILVER took its vengeance on the shorts today, and could punish them all the way up to 3800c and the 20 DMA, or 3900c and the 50 DMA. Yet one feareth that the ultimate low has not yet had time to appear. Today’s rally might also vanish like mist tomorrow, since the momentum indicators have not turned up to confirm a rally.

If y’all have read my website, www.the-moneychanger.com, you know that I am death on paying premium on any silver and gold. Still people call wanting to buy silver American Eagles or Canadian Maple Leaves or silver rounds, when they could buy the more useful and divisible US 90% silver coin for less than 2% over its silver content. Yet they will push right past that to pay $4 an ounce or more for silver American Eagles. Listen, read, mark, learn and inwardly digest this principle: OVER TIME, PREMIUM ALWAYS DISAPPEARS. You will NOT recapture those premium dollars when you sell at the peak, I don’t care what any dealer trying to sell out of his inventory tells you. I’ve been doing this 31 years this year, and I have watched: Over time, premium always disappears, so don’t buy premium. Get the most silver and gold you can get for your money.

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/~3/2jyoDFfLoSs/gold-price-hasnt-posted-its-bottom-yet.html

Gold Price Close Today : 1523.80
Change : 8.80 or 0.6%

Silver Price Close Today : 35.410
Change : 0.674 or 1.9%

Gold Silver Ratio Today : 43.03
Change : -0.582 or -1.3%

Silver Gold Ratio Today : 0.02324
Change : 0.000310 or 1.4%

Platinum Price Close Today : 1797.10
Change : -1.70 or -0.1%

Palladium Price Close Today : 796.50
Change : 3.00 or 0.4%

SP 500 : 1,287.87
Change : 1,604.00 or -507.4%

Dow In GOLD$ : $163.82
Change : $ 0.75 or 0.5%

Dow in GOLD oz : 7.925
Change : 0.036 or 0.5%

Dow in SILVER oz : 341.04
Change : -3.07 or -0.9%

Dow Industrial : 12,076.11
Change : 123.14 or 1.0%

US Dollar Index : 74.49
Change : -0.384 or -0.5%

SILVER and GOLD PRICE rose today, but I don’t exactly trust that rise.

After yesterday’s low above $1,510, GOLD commenced a steady rise, reached about $1,524 overnight, then fell again to $1,512 about opening time. That’s when the rally began that worked all day and carried GOLD up $8.80 to $1,523.80

My only question is, “Why not ABOVE $1,525 resistance instead of below it?” Gold must clear $1,535 resistance before any renewed rally becomes likely, although gold’s oversold condition could leave it floating up here for a day or so.

The SILVER PRICE appears to have put in a rounded or double bottom yesterday and today at 3450c and 3439c. Comex silver rose 67.4c to 3541c, but was stopped cold at 3553c. The silver price might rally all the way to the 20 DMA at 3633c before it runneth out of gas.

Gold/silver ratio dropped today to 43.033.

Silver and gold rallied today, but most likely ’twas only a bounce in a downtrend. I expect to see lower prices still before this correction ends. BICBW.

TODAY the US DOLLAR INDEX dropped another 10.1 basis points (-0.13%) to 74.411. After a low at 74.23 the dollar index curved up enough to climb over 74.40. On the five day chart 74.20 was significant support, so the dollar’s successfully defending that point lends more believability to the theory that the dollar turned up on 1 May. Today it merely declined to its 20 day moving average (DMA). My rally theory stays alive as long as it remains above 74.20.

Euro rose today 0.17% to 1.4441. However, step back from the chart and you’ll see the obvious downtrend since May began. Yen stumbled sideways to Y80.44/$ (124.31c/Y100).

My, O, My. Stocks leapt straight up like Superman jumping over a tall building, right from the open, clambered over 12,050 and stayed there. High was 12,120.80 but Dow closed up 123.14 at 12,076.11 (up 1.03%). Yesterday’s low at 11,918 may have marked the bottom of the wave. If so, stocks will rally from here, maybe a long way to put in one last top to end the epoch of stocks.

SP500 rose 1.26% or 16.04 points to 1,287.87.

I bet y’all don’t know what I’m going to say next, do you? Y’all think I’m going to make some cutting comment about how stocks are sorrier than a hairless mule or a three legged greyhound or a vegetarian tomcat or a hog on a diet or a chicken allergic to eggs.

But I’m not going to. Shoot, if y’all want to buy stocks, go ahead. After all, Wall Street has to eat, too, and it might as well eat you.

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/On4fZbslx6E/silver-and-gold-prices-rallied-today.html