• The Gold Price Rose $5.30 this Week

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    Gold Price Close Today : 1,577.70
    Gold Price Close 22-Feb-13 : 1,572.40
    Change : 5.30 or 0.3%

    Silver Price Close Today : 28.405
    Silver Price Close 22-Feb-13 : 28.46
    Change : -0.065 or -0.2%

    Gold Silver Ratio Today : 55.563
    Gold Silver Ratio 22-Feb-13 : 55.249
    Change : 0.31 or 0.6%

    Silver Gold Ratio : 0.01800
    Silver Gold Ratio 22-Feb-13 : 0.01810
    Change : -0.00010 or -0.6%

    Dow in Gold Dollars : $ 184.98
    Dow in Gold Dollars 22-Feb-13 : $ 184.06
    Change : $0.92 or 0.5%

    Dow in Gold Ounces : 8.948
    Dow in Gold Ounces 22-Feb-13 : 8.904
    Change : 0.04 or 0.5%

    Dow in Silver Ounces : 497.20
    Dow in Silver Ounces 22-Feb-13 : 491.94
    Change : 5.26 or 1.1%

    Dow Industrial : 14,117.88
    Dow Industrial 22-Feb-13 : 14,000.57
    Change : 117.31 or 0.8%

    S&P 500 : 1,522.15
    S&P 500 22-Feb-13 : 1,515.60
    Change : 6.55 or 0.4%

    US Dollar Index : 81.907
    US Dollar Index 22-Feb-13 : 80.470
    Change : 1.437 or 1.8%

    Platinum Price Close Today : 1,582.40
    Platinum Price Close 22-Feb-13 : 1,606.30
    Change : -23.90 or -1.5%

    Palladium Price Close Today : 732.60
    Palladium Price Close 22-Feb-13 : 735.30
    Change : -2.70 or -0.4%

    Y’all are tired of the silver and GOLD PRICE falling, and so am I, but it only SEEMS that they’ve been falling forever. Gold hit a low last Friday at $1,554.30, made a key reversal, and climbed 4 days. Today and yesterday it backed off. Might back off more, but declines yesterday and today were mere normal trading. Gold actually rose $5.30 for the week, and silver lost only 6.5 cents.

    The GOLD PRICE fell $17.50 today to $1,577.70. Silver lost 54.8 cents to close 2839.5c.

    I’d be grateful if gold would move no lower than today’s intraday low at $1,574.90. That would keep it inside its old lower channel line. But that’s not as critical for gold as holding above $1,554.30. And y’all will hardly credit this, but it appears the MACD indicator has turned up.

    The SILVER PRICE chart looks like gold, a little correction after four day’s rise. MACD hasn’t as obviously turned up, but is curving. Total risk is down to 2610c to 2610c at most, the support line so long established.

    Y’all don’t realize that the Establishment is harvesting you. When Goldman- Sachs puts out a report that gold will drop to $1,200, you think they’re doing that out of the goodness of their tiny, leaden hearts which when hot are a touch below absolute zero? They are mere hatchetmen and bagmen for the government, floating propaganda to scare you out of silver and gold. Of course, so is Ben Bernanke.

    I’m telling y’all, it’s time to get mean: plumb, mad-dog mean, if you expect to live and to win.

    R.L. Dabney wrote that the Scotch-Irish people, when they are right, are the most inflexible and stubborn people on earth, but when they are wrong are the most mulish and pig-headed. My people are Scotch-Irish so far back that memory runneth not to the contrary, bred to fight for 1,000 years.

    When the Y2K threat passed all the neophytes who had bought gold and silver expecting the world to end called up wanting to sell their metals. Knowing that the stock bull market was drawing to a close and suspecting/watching the Dow in Gold roll over, anticipating a new metals bull market, I pleaded with them not to sell (what the lawyers call “an admission against interest”). Some listened, some didn’t. How that turned out for people who had bought silver and gold at $5 and $250 – $300 and didn’t sell, y’all can judge.

    I tell y’all that story to point out that I have been here, under this same artillery fire before. And in 2008 when all and sundry were diving into dollars, I kept telling them to stick with their silver and gold and buy more.

    Now pundits are punditting that the dollar will was strong and well-muscled for decades to come, and a new bull market in stocks is about to begin. Right, after they’ve been in a bear market only 13 years.

    Sorry, I’m fixing to become the most mulish and pig-headed Scotch-Irishman (or inflexible and stubborn) you ever met. I don’t buy any of the government hogwash about the recovering economy, recovering banks, or the Fed being wiser than God having more money, or stocks launching

    a new bull market. I don’t buy that the piddling 500% – 600% rise in silver and gold over a mere 12 years fulfills a bull market. I don’t buy that Europe will somehow muddle though, and that the Japanese with 250% of their GDP in debt will make itself rich by depreciating the yen.

    The causes haven’t changed, so the effects will not change.

    As that great Scotch-Irishman Outlaw Josey Wales said, “When things look bad and it looks like you’re not gonna make it, then you gotta get mean. I mean plumb, mad-dog mean. Cause if you lose your head and you give up, then you neither live nor win. That’s just the way it is.”

    A reader wrote to ask me what events would make me sell silver and gold. Here they are, in order: (1) The US government abolishes the Federal Reserve system and returns to a constitutional gold and silver coin standard. (2) The US government ceases to intervene in the economy. (3) Gold drops below $1,000. (4) Frogs grow wings so they won’t bump their little bottoms when they jump.

    Y’all just put yourself in the place of the government managers like Bernanke. Every once in a while you have to engineer a BIG scare to keep your victims in the dollar and out of gold. One thing that reveals the dollar’s true condition is a rising gold price, so he just has to fight that.

    Today I have to leave early to attend a funeral in Memphis tomorrow, so the prices are closes for silver and gold only, not everything else. But they’ll be close. And I won’t publish a commentary tomorrow.

    Stocks reached a new high for the move at 14,149.15 but are trading now at 14,117.88, up 42.51 (0.3%). S&P500 stands at 1,522.15, up 6.16 or 0.41%. Dow punched through the upper jaw of that broadening top, but that often happens as the megaphone mouth widens out. I have been telling y’all to expect a new all time NOMINAL high in stocks, so this shouldn’t surprise even a TSA agent or central bank president.

    Dollar spurted today, up 33.7 basis points (0.43%) to 81.907. Surely has 82 targeted, maybe 83. Deflation scare/strong dollar scare time.

    Euro sank back again today, losing 0.56% to $1.3058. Yen also sank 0.46% to 107.90 cents/Y100. Remains, however, above the 107.51 twenty day moving average.

    Y’all enjoy your weekend!

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

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com
    1-888-218-9226
    10:00am-5:00pm CST, Monday-Friday

    © 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or 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. No, I don’t.

  • The Gold Price Posted it's Low Last Week and Must Now Conquer $1,620

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    Gold Price Close Today : 1595.20
    Change : -19.80 or -1.23%

    Silver Price Close Today : 28.943
    Change : -0.317 or -1.08%

    Gold Silver Ratio Today : 55.115
    Change : -0.080 or -0.14%

    Silver Gold Ratio Today : 0.01814
    Change : 0.000026 or 0.14%

    Platinum Price Close Today : 1599.00
    Change : -16.40 or -1.02%

    Palladium Price Close Today : 743.15
    Change : 3.75 or 0.51%

    S&P 500 : 1,515.99
    Change : 19.05 or 1.27%

    Dow In GOLD$ : $182.40
    Change : $ 7.50 or 4.29%

    Dow in GOLD oz : 8.824
    Change : 0.363 or 4.29%

    Dow in SILVER oz : 486.31
    Change : 11.26 or 2.37%

    Dow Industrial : 14,075.37
    Change : 175.24 or 1.26%

    US Dollar Index : 81.54
    Change : -0.316 or -0.39%

    The silver and GOLD PRICE dropped today, but hold on a second and think. They had risen four day’s running, so a little breather is in order. Silver lost 31.7 cents to 2894.3c and gold fell $19.80 to $1,595.20. This hasn’t damaged the uptrend, but might mean that we’re in for more sideways frustration. Lines are clearly drawn: silver has to climb over 2950, then 3050c to rally.

    The GOLD PRICE must conquer $1,620 – $1,630.

    I have to stick by my tentative conclusion, iffy as it might be: the gold and SILVER PRICE made their lows last week. Unless they fall lower than those in daily trading, they will continue to rally.

    Yep, I’m biting my nails, too, but this will all clear up pretty soon. Once those stocks break, those nice government men and hedge funds will be skipping and hopping. So will silver and gold.

    A reader asked me what the inflation adjusted value of that 26 Feb 1974 $188 gold is: by the under-stated US government inflation adjustment, it’s about 878.15 2013 dollars.

    There’s an old proverb that says the poor man wastes his money bribing the rich. Way it usually works is the rich man gets the poor man’s labor for nothing by promising that if he just helps him for free this time, he’ll remember him when the next big deal comes around.

    But it never comes.

    A lot of employers jerk their employees around this way, promising big things in the future while taking away things in the present. The rich man already got me a number of years ago, and taught me never to bribe the rich. I don’t remember much poetry, except these lines from Omar Khayyam, “Ahh, take the cash, and let the credit go/Nor heed the rumble of a distant drum!”

    Y’all can turn your noses up at me if you like, but I have to warn y’all: that stock market isn’t strong, it’s blowing off. Erratic trading accompanies blow-off tops. On Friday the Dow gained 119.95, on Monday it lost 216.40, on Wednesday it gained 115.96, and today it gained 175.24 (1.26%) to close at 14,075.37, a new high close for the move.

    See that the these moves are slinging the Dow from one side of the Jaws of Death to the other.

    The broadening top pattern is not a continuation pattern but a top. The hot and cold uncertainty may send the Dow higher, even to the 2007 high at 14,163, but these high stock prices are not long for this world.

    Dow in gold and Dow in silver both bounced up today, but to lower highs. Hmmm — lower lows and lower highs — Doesn’t that make a downtrend?

    Stocks are rolling over, count on it.

    Euro rose 0.54% today to $1.3132. However, ’tis only bouncing off an internal resistance line about $1.3040. Headed lower.

    Yen lost 0.25% today to 108.40. Nothing technical yet to point to a turn around other than crossing above the 107.61 20 DMA day before yesterday. 50 DMA is above at 111.71c/Y100. It’s so politically determined that I wouldn’t trade it with y’all’s money.

    It’s an odd thing to me that in an age when more than half the TV shows are about adultery that anybody would get too exercised about adulterating food (merely another brand of adultery) but behold! the uproar in the EU over horse meat in their wieners and meatballs. The goofiest face of this are the calls from the inveterate and unable- ever-to-learn-anything socialists for more government regulation. England has some of the world’s tightest meat regulation. Problem is, of course, CONCENTRATION in the food industry. Would you rather buy beef from your local butcher who looks you in the eye, or mystery meat from some far-off corporation? Right, the cure is to know your farmer and buy local.

    Forget the meatballs, I’m giving up sushi. A group named Oceana uncovered massive fraud in mislabeled fish. Seems that out of 1200 samples, 1/3 were mislabeled. What was swimming as tuna was in fact escalor, that will give you gastro-intestinal distress you don’t want to hear described. Oceana did not find a single sushi bar without mislabeled fish.

    I’m telling y’all, the only way to protect yourself from these adulterers and dangerous processed food is to buy local and know your farmer.

    But shucks, I’m only a natural born fool from Tennessee. Y’all don’t pay me no mind, and let me know how y’all like that escolar — whoops! “Tuna.”

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

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com
    1-888-218-9226
    10:00am-5:00pm CST, Monday-Friday

    © 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or 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. No, I don’t.

  • With the Gold Price Fulfilling it's Confirmation Rising Above $1,600 I Bought More Silver and Gold

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    Gold Price Close Today : 1615.20
    Change : 29.00 or 1.83%

    Silver Price Close Today : 29.260
    Change : 0.273 or 0.94%

    Gold Silver Ratio Today : 55.202
    Change : 0.481 or 0.88%

    Silver Gold Ratio Today : 0.01812
    Change : -0.000159 or -0.87%

    Platinum Price Close Today : 1615.40
    Change : -4.20 or -0.26%

    Palladium Price Close Today : 739.40
    Change : -9.65 or -1.29%

    S&P 500 : 1,496.94
    Change : 9.09 or 0.61%

    Dow In GOLD$ : $177.90
    Change : $ 7.50 or 4.40%

    Dow in GOLD oz : 8.606
    Change : 0.363 or 4.40%

    Dow in SILVER oz : 475.06
    Change : -0.47 or -0.10%

    Dow Industrial : 13,900.13
    Change : 115.96 or 0.84%

    US Dollar Index : 81.65
    Change : -0.240 or -0.29%

    Metals wasted no time today the GOLD PRICE rose $29 (1.83%) to close Comex at $1,615.20. Silver jumped 27.3c (0.94%) to end at 2926 cents.

    The GOLD PRICE fulfilled my first hurdle for confirmation by closing above $1,600, and added fifteen bucks for good measure. This is the behavior gold must exhibit to convince watchers that last week was a spike or V-bottom, but it can’t stop there. Above it must batter down the $1,630 door, the 20 DMA at $1,637.90, and $1,670. All this ought to happen quickly without any relapse below $1,600.

    The SILVER PRICE shows an attack from the bears abut 10:00. It took silver almost two hours to beat that back and recover, but recover it did, climbing above 2900c and over resistance about 2920c.

    It’s a good step, but silver must keep on rising and shouldn’t close again below 2900c.

    I bought more silver and gold today. Premium on US 90% has risen to 80c over spot at wholesale, a sign of strength generally. Can hardly find a wholesaler willing to sell 90%, because they’re afraid they won’t be able to cover it.

    Nobody believes an old natural born fool from Tennessee, but I reckon y’all will believe a certified Central Banker wearing a suit and pointy-toe shoes. The Dallas Fed President, Dick Fisher, said in an interview that recent gains in the stock market have not come through improvements in corporate fundamentals or sustainable economic recovery, but instead through the artificial manipulation by the Fed in the markets themselves. Primary cause for the 30% stock rally has been the Fed’s continuous inflow of new money.

    I bet y’all will believe it now. (I don’t really KNOW whether he wears pointy-toed shoes, but I’ll bet he does wear a suit. For all I know he wears Birkenstocks, but the prez of the Dallas Fed sure enough is a Central Banker.)

    Y’all may wonder what has kept me wrong so long about silver and gold, over and over expecting their correction to end. How about the Fed pouring a zillion dollars into the stock market, sucking up all the money in the world?

    Doesn’t matter, if it wasn’t the Fed, it’d be stray dogs. There’s always some distraction to fool you and trick you out of your bull market position in silver and gold.

    Stock market did NOT follow through yesterday’s first half of a key reversal by closing lower today. Dow gained back 115.96 points (up 0.84%) of the 216.40 it lost yesterday. Must have kept those Nice Government Men up all night just a-buying and a-buying those stock market futures to jack that price up. It did rise back to the inside the Jaws of Death — waiting for ’em to snap shut again.

    Nothing hurts as bad as disappointed hopes. You go to the mailbox day after day, waiting for that notification from the Publishers’ Sweepstakes that you’ve won the life changing lottery, but find there only cobwebs. After a while, you commence to get mad.

    I’ve travelled this road of a Broadening Top or Jaws of Death before. ‘Tis the pattern stocks followed at their bull market top in 2000. They fall, but then they rise again, just enough to raise hopes. Then they fall again, to a lower low, disappointing hopes. That continues until at last, they fall out of the Jaws for an undeniable failure. Before that, though, the Jaws feed on disappointed hopes.

    Dow rose 115.,96 to close at 13,900.13 but the S&P500 couldn’t quite make it over the morale-building 1,500 and gained only 9.09 (0.61%) to close 1,496.94.

    I have just enough bad taste and bad manners to flip the page over to the Dow in Gold and Dow in Silver charts and observe that the breakdown there was NOT gainsaid by any bogus rise today. Both are about as broken as a market can be, and I take great heart from that for silver and gold. Those two indicators have been almost infallible over the last 17 years I’ve been watching them.

    US Dollar index backed off 24 basis points (0.31%) today to 81.49. It hit the internal resistance line that marks the shoulder-tops of the head and shoulders it formed from March 2012 – November 2012. Seems to have stopped cold there at 82. RSI is way overbought, which, if the NGM weren’t behind the green curtain, would mean it will decline. With them back there working the smoke machine, there’s just no telling.

    Euro at $1.3060 and Yen at 108.71 were basically flat today. All the talking Nerds — WHOA!, make that talking heads — on National Proletarian Radio were frothing and nattering today about how awful and irresponsible it is that the Italians gave a big percentage of their vote to the new block headed by comedian Beppe Grillo. Personally, I think it plainly illustrates how seriously Italians take their politics. Well, no, not that way, but it shows that they understand that politics is nothing but entertainment for us mushrooms anyway, so they might as well be entertained by somebody funny. Hey, if he were alive I’d vote for Jonathan Winters for president in a minute! And he could make George Carlin Chairman of the Fed.

    US$1=Y91.99=E0.7657=0.034176 oz Ag=0.006191 oz Au.

    Speaking of comedians, today Ben Bernanke told a congressional committee that he believe he is helping the economy by holding down long term interest rates and that ought to be sustained. No, seriously. He said that. Ain’t he one heck of a comedian? Yuck, yuck.

    On 26 February 1974 Gold hit a new record high of US$188 an ounce in Paris.

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

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com
    1-888-218-9226
    10:00am-5:00pm CST, Monday-Friday

    © 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or 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. No, I don’t.

  • Can the Gold Price Close Over $1,605? If it Doesn't the Falling Hasn't Ended

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    Gold Price Close Today : 1586.20
    Change : 13.80 or 0.88%

    Silver Price Close Today : 28.987
    Change : 0.527 or 1.85%

    Gold Silver Ratio Today : 54.721
    Change : -0.528 or -0.96%

    Silver Gold Ratio Today : 0.01827
    Change : 0.000175 or 0.97%

    Platinum Price Close Today : 1619.60
    Change : 13.30 or 0.83%

    Palladium Price Close Today : 749.05
    Change : 13.75 or 1.87%

    S&P 500 : 1,487.85
    Change : -27.75 or -1.83%

    Dow In GOLD$ : $179.64
    Change : $ 7.50 or 4.36%

    Dow in GOLD oz : 8.690
    Change : 0.363 or 4.36%

    Dow in SILVER oz : 475.53
    Change : -16.41 or -3.34%

    Dow Industrial : 13,784.17
    Change : -216.40 or -1.55%

    US Dollar Index : 81.75
    Change : 0.281 or 0.34%

    The GOLD PRICE made progress today in climbing above the lower channel line that has held it in since last November. This is positive, but not dispositive. Gold’s first task is to climb over $1,605. From there I expect it to march very quickly toward $1,640. If it doesn’t, then the falling hasn’t ended.

    The SILVER PRICE bounced up off its lower channel line, but up above the 200 day moving average is at 3064c. Not coincidentally, resistance/support lurks about the same spot. Silver needs to clear 3050c, then 3100c quickly.

    Yes, it’s too soon to say for sure, but with the trouble in stocks and the euro today, it appears that silver and gold have found their feet. But be on guard: they need to confirm.

    I picked up one of our phones today and it was so hot it nearly burned my hand. LOADS of folks have been waiting for just such an occasion as this to buy silver and gold. I confess, I bought some myself today. Not all I intend to buy, but some.

    I reckon if you live by politics, you’ll die by politics, too. Pears all the optimists are now all terrified that “sequestration” (which last week they couldn’t spell) will cut off the tide of gummint money, and strangle the whole economy. Over in Europe the Establishment technocrat Monti (as in “3-Card”) didn’t win, so the euro went down in flames since nobody knows whether Italy’s even gonna open up tomorrow, let alone have an economy.

    As the rats left the euro-boat they jumped ship to the yen. Rats, as y’all probably know, ain’t got a lick of sense. The euro fell 1.02% to $1.3058, breaking the uptrend sure enough. No more doubt on that account. The Yen jumped up like an old lady winning the lottery. It rose 1.73% to 108.95c/Y100. Us Dollar index hardly moved, up from Friday’s trading about this time by about 28 basis points or 0.3%.

    All those optimist rats that had climbed aboard the SS Stockmarket came flying off today, too. Dow lost a choking 216.4 points or 1.55% and closed waaaay down there below 13,850 support at 13,784.17. S&P500 looked worse, down 1.83% (27.75 point) at 1,487.85.

    That’s not the worst. The Dow made a new high for the move today at 14,081.58, but then closed much lower for the day: first half of a key reversal. A lower close tomorrow (assuming the Nice Government Men can’t manipulate it higher, and they ain’t God, after all) puts a fatal nail in stocks’ coffin.

    Hush, I’m not through. I’ve been telling y’all about those Jaws of Death broadening top pattern forming since the Dow broke out of that rising wedge back in January. Today it ran plumb up to the top of that megaphone, then sliced down through the 20 DMA (13,947.783) and closed BELOW that megaphone’s bottom side.

    Shucks, when you’re the gummint and you can just dummy up enough money to do about anything, including buying stock futures to raise the market and print loads of new money, you can jerk markets around right smart. Your trouble is, as I said, you ain’t God, so sooner or later you’ll flatten your face up against reality.

    Be quiet, I’m not through YET. I opened up the Dow in Gold and Dow in Silver charts, and looky there! That close last Wednesday WAS an island reversal, or some kind of reversal, I reckon. That Dow in gold sank from 8.864 oz on Friday to 8.66 oz today, down 4.36%. Dow in silver plunged from 491 to 475.50, 3.34%.

    Don’t anybody chortle too loudly or smugly just yet, but those stocks are in trouble.

    Silver gained 52.7 cents (+1.85%) today to close Comex at 2898.7 cents. Gold added $13.80 (+0.88%) to close $1,586.20. This is good, this is welcome, this is promising, but it ain’t cleared the woods by no means.

    By the way, I’ve heard more drivel lately about the so called “Death Cross” of gold’s 50 Day Moving Average dropping below its 200 DMA than I heard since Obama ran for president the first time, so I’m gonna hawk that bone out of my throat first. Since 2000, gold has made the so-called death cross five (5) times. In 2000, it lost 4.5% from May to November, but that was BEFORE the bull market began. In 2004, it crossed in June and stayed under till 10 August, with a disastrous fall from a high of $384.50 at the cross to a low of $383.60 at the low (yes, a 90 cent loss). In 2006 the October death cross (they need a new name for that thing) took gold from $593 on the 20th to its low on the 21st at $579.70, a 2.2% drop. Only near-about bad result was in 2008, when gold fell 12.2% from the September cross to its November low at $704.50, losing 12.25. And remember that was amidships of a 200-year financial panic. Average death cross loss has been 4%. Let’s worry about something else now.

    Meanwhile market sentiment has grown so negative on silver and gold that a rebound, whether the final turnaround or not, is virtually assured. No pendulum swings the same direction forever, unless the clock is clean broke.

    On this black day, 25 February 1862, Abraham Lincoln, not content to pursue an aggressive war of destruction against the South and the Constitution, signed the First Legal Tender Act authorizing the issuance of United States notes (“Greenbacks”) as a legal tender. Not only did he fight a war to destroy the Constitution, he financed it with unconstitutional fiat money.

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

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com
    1-888-218-9226
    10:00am-5:00pm CST, Monday-Friday

    © 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or 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. No, I don’t.

  • With the Gold Price Fulfilling it's Confirmation Rising Above $1,600 I Bought More Silver and Gold

      0 comments

    Gold Price Close Today : 1615.20
    Change : 29.00 or 1.83%

    Silver Price Close Today : 29.260
    Change : 0.273 or 0.94%

    Gold Silver Ratio Today : 55.202
    Change : 0.481 or 0.88%

    Silver Gold Ratio Today : 0.01812
    Change : -0.000159 or -0.87%

    Platinum Price Close Today : 1615.40
    Change : -4.20 or -0.26%

    Palladium Price Close Today : 739.40
    Change : -9.65 or -1.29%

    S&P 500 : 1,496.94
    Change : 9.09 or 0.61%

    Dow In GOLD$ : $177.90
    Change : $ 7.50 or 4.40%

    Dow in GOLD oz : 8.606
    Change : 0.363 or 4.40%

    Dow in SILVER oz : 475.06
    Change : -0.47 or -0.10%

    Dow Industrial : 13,900.13
    Change : 115.96 or 0.84%

    US Dollar Index : 81.65
    Change : -0.240 or -0.29%

    Metals wasted no time today the GOLD PRICE rose $29 (1.83%) to close Comex at $1,615.20. Silver jumped 27.3c (0.94%) to end at 2926 cents.

    The GOLD PRICE fulfilled my first hurdle for confirmation by closing above $1,600, and added fifteen bucks for good measure. This is the behavior gold must exhibit to convince watchers that last week was a spike or V-bottom, but it can’t stop there. Above it must batter down the $1,630 door, the 20 DMA at $1,637.90, and $1,670. All this ought to happen quickly without any relapse below $1,600.

    The SILVER PRICE shows an attack from the bears abut 10:00. It took silver almost two hours to beat that back and recover, but recover it did, climbing above 2900c and over resistance about 2920c.

    It’s a good step, but silver must keep on rising and shouldn’t close again below 2900c.

    I bought more silver and gold today. Premium on US 90% has risen to 80c over spot at wholesale, a sign of strength generally. Can hardly find a wholesaler willing to sell 90%, because they’re afraid they won’t be able to cover it.

    Nobody believes an old natural born fool from Tennessee, but I reckon y’all will believe a certified Central Banker wearing a suit and pointy-toe shoes. The Dallas Fed President, Dick Fisher, said in an interview that recent gains in the stock market have not come through improvements in corporate fundamentals or sustainable economic recovery, but instead through the artificial manipulation by the Fed in the markets themselves. Primary cause for the 30% stock rally has been the Fed’s continuous inflow of new money.

    I bet y’all will believe it now. (I don’t really KNOW whether he wears pointy-toed shoes, but I’ll bet he does wear a suit. For all I know he wears Birkenstocks, but the prez of the Dallas Fed sure enough is a Central Banker.)

    Y’all may wonder what has kept me wrong so long about silver and gold, over and over expecting their correction to end. How about the Fed pouring a zillion dollars into the stock market, sucking up all the money in the world?

    Doesn’t matter, if it wasn’t the Fed, it’d be stray dogs. There’s always some distraction to fool you and trick you out of your bull market position in silver and gold.

    Stock market did NOT follow through yesterday’s first half of a key reversal by closing lower today. Dow gained back 115.96 points (up 0.84%) of the 216.40 it lost yesterday. Must have kept those Nice Government Men up all night just a-buying and a-buying those stock market futures to jack that price up. It did rise back to the inside the Jaws of Death — waiting for ’em to snap shut again.

    Nothing hurts as bad as disappointed hopes. You go to the mailbox day after day, waiting for that notification from the Publishers’ Sweepstakes that you’ve won the life changing lottery, but find there only cobwebs. After a while, you commence to get mad.

    I’ve travelled this road of a Broadening Top or Jaws of Death before. ‘Tis the pattern stocks followed at their bull market top in 2000. They fall, but then they rise again, just enough to raise hopes. Then they fall again, to a lower low, disappointing hopes. That continues until at last, they fall out of the Jaws for an undeniable failure. Before that, though, the Jaws feed on disappointed hopes.

    Dow rose 115.,96 to close at 13,900.13 but the S&P500 couldn’t quite make it over the morale-building 1,500 and gained only 9.09 (0.61%) to close 1,496.94.

    I have just enough bad taste and bad manners to flip the page over to the Dow in Gold and Dow in Silver charts and observe that the breakdown there was NOT gainsaid by any bogus rise today. Both are about as broken as a market can be, and I take great heart from that for silver and gold. Those two indicators have been almost infallible over the last 17 years I’ve been watching them.

    US Dollar index backed off 24 basis points (0.31%) today to 81.49. It hit the internal resistance line that marks the shoulder-tops of the head and shoulders it formed from March 2012 – November 2012. Seems to have stopped cold there at 82. RSI is way overbought, which, if the NGM weren’t behind the green curtain, would mean it will decline. With them back there working the smoke machine, there’s just no telling.

    Euro at $1.3060 and Yen at 108.71 were basically flat today. All the talking Nerds — WHOA!, make that talking heads — on National Proletarian Radio were frothing and nattering today about how awful and irresponsible it is that the Italians gave a big percentage of their vote to the new block headed by comedian Beppe Grillo. Personally, I think it plainly illustrates how seriously Italians take their politics. Well, no, not that way, but it shows that they understand that politics is nothing but entertainment for us mushrooms anyway, so they might as well be entertained by somebody funny. Hey, if he were alive I’d vote for Jonathan Winters for president in a minute! And he could make George Carlin Chairman of the Fed.

    US$1=Y91.99=E0.7657=0.034176 oz Ag=0.006191 oz Au.

    Speaking of comedians, today Ben Bernanke told a congressional committee that he believe he is helping the economy by holding down long term interest rates and that ought to be sustained. No, seriously. He said that. Ain’t he one heck of a comedian? Yuck, yuck.

    On 26 February 1974 Gold hit a new record high of US$188 an ounce in Paris.

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

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com
    1-888-218-9226
    10:00am-5:00pm CST, Monday-Friday

    © 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or 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. No, I don’t.