• The Gold Price Fell to $1,231.20 Today

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    Gold Price Close Today : 1231.20
    Change : -14.30 or -1.15%

    Silver Price Close Today : 19.792
    Change : -0.257 or -1.28%

    Gold Silver Ratio Today : 62.207
    Change : 0.084 or 0.14%

    Silver Gold Ratio Today : 0.01608
    Change : -0.000022 or -0.14%

    Platinum Price Close Today : 1343.70
    Change : -15.50 or -1.14%

    Palladium Price Close Today : 699.65
    Change : -6.25 or -0.89%

    S&P 500 : 1,781.00
    Change : -5.54 or -0.31%

    Dow In GOLD$ : $266.54
    Change : $ 2.91 or 1.10%

    Dow in GOLD oz : 12.894
    Change : 0.141 or 1.10%

    Dow in SILVER oz : 802.10
    Change : 9.82 or 1.24%

    Dow Industrial : 15,875.26
    Change : -9.31 or -0.06%

    US Dollar Index : 80.220
    Change : 0.000 or 0.00%

    Some of the Nice Government Men did get around to taking out their club and bashing silver and GOLD PRICES. The SILVER PRICE staggered back 25.7 cents to 1979.2c, familiar territory. The gold price went down for $14.30, landing on $1,231.20.

    Plumb on 8:30 when New York opened somebody sold the dickens out of both silver and gold, then little happened the rest of the day.

    All right, I’m going to tell y’all what I see. Eight days ago silver and gold prices broke through the downtrend line from the October top. They remain above and outside that downtrend line.

    If the GOLD PRICE drops below $1,210 or silver below 1890c, they’ll tumble. Otherwise, we are waiting for them to confirm this little breakout with a closes above resistance at 2100c and $1,267.

    Other than a giant whacking that fell on silver and gold, nothing much happened today. Over all is cast the shadow of the midgets and teenagers who run the Federal Reserve, waiting on them to tell us tomorrow after the FOMC meeting how they plan to mess up the US economy and monetary system next.

    The Greeks used to say that when you fight an enemy a long time, you become your enemy. Your take on your enemy’s position. The Fed is a picture of that: the capitalist central bank has become the head socialist. Now think: what presupposition underlies a central bank? Other than stealing the most money from the most people the most easily? A central bank presupposes that somebody, or some committee, is clever enough, and hath knowledge exhaustive enough, to run the economy. But instead of Stalin, we have Bernanke. Think about the gall: that one man or twenty men know better than the millions of market participants what business should be done, how much, and at what interest rate.

    If that ain’t certifiably insane, I ain’t a natural born fool from Tennessee.

    US dollar index didn’t even move. Literally, it was unchanged at 80.22. Euro was also nearly unchanged, up 0.05% to $1.3768. Yen rose 0.34% to 97.40, but it’s so far down in the well you can hardly spy it anyway. Dow lost 9.31 (0.6%) to 15,875.26 and the S&P gave up 5.54 (0.31%) to end at 1,781.

    Who knows what nutty effect the FOMC’s announcement will wreak? As I said yesterday, their mere meeting, let alone their speaking, jams human brain waves.

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

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com

    © 2013, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold’s primary trend is up, targeting at least $3,130.00; silver’s primary is up targeting 16:1 gold/silver ratio or $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.

    WARNING AND DISCLAIMER. Be advised and warned:

    Do NOT use these commentaries to trade futures contracts. I don’t intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.

    NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.

    NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.

    NOR do I recommend buying gold and silver on margin or with debt.

    What DO I recommend? Physical gold and silver coins and bars in your own hands.

    One final warning: NEVER insert a 747 Jumbo Jet up your nose.

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