• The Gold Price Closed $3.80 Higher at $1,331.80

      0 comments

    Gold Price Close Today : 1,331.60
    Gold Price Close 21-Feb-14 : 1,323.90
    Change : 7.70 or 0.6%

    Silver Price Close Today : 21.314
    Silver Price Close 21-Feb-14 : 21.782
    Change : -46.80 or -2.1%

    Gold Silver Ratio Today : 62.475
    Gold Silver Ratio 21-Feb-14 : 60.780
    Change : 1.696 or 2.8%

    Silver Gold Ratio : 0.01601
    Silver Gold Ratio 21-Feb-14 : 0.01645
    Change : -0.00045 or -2.7%

    Dow in Gold Dollars : $ 252.62
    Dow in Gold Dollars 21-Feb-14 : $ 251.44
    Change : 1.18 or 0.5%

    Dow in Gold Ounces : 12.220
    Dow in Gold Ounces 21-Feb-14 : 12.164
    Change : 0.06 or 0.5%

    Dow in Silver Ounces : 763.47
    Dow in Silver Ounces 21-Feb-14 : 739.29
    Change : 24.18 or 3.3%

    Dow Industrial : 16,272.65
    Dow Industrial 21-Feb-14 : 16,103.30
    Change : 169.35 or 1.1%

    S&P 500 : 1,854.29
    S&P 500 21-Feb-14 : 1,836.25
    Change : 18.04 or 1.0%

    US Dollar Index : 80.320
    US Dollar Index 21-Feb-14 : 80.300
    Change : 0.02 or 0.0%

    Platinum Price Close Today : 1,452.15
    Platinum Price Close 21-Feb-14 : 1,426.30
    Change : 25.85 or 1.8%

    Palladium Price Close Today : 742.25
    Palladium Price Close 21-Feb-14 : 740.00
    Change : 2.25 or 0.3%

    Silver and GOLD PRICES both rose today, silver by 6 cents (0.28%) to 2131.4c and gold by $3.60 (0.27%) to $1,331.60.

    All the same, other indicators still imply SILVER and GOLD PRICES must correct a while before rising further. A 50% correction of the long upmove from the December low would take silver back to 2050c, where silver broke out on 14 February. A kiss back to the breakaway point is fairly common. For the gold price the breakout was about $1,280, the break out from an upside down head and shoulders formation. But $1,300 was important resistance, so it might stop there.

    Of course, I might have it all wrong and this might prove no more than a short breath-catcher before the gold price tries again to break through $1,360 resistance. When I’m confused, I just sit still till it passes. Gold closing above $1,350 and silver above 2220c would contradict my correction expectation.

    Any correction gives us one last splendid opportunity to swap gold for silver above 60:1, holding the silver to swap back below 32:1. Act now.

    I’m going to the Space Center in Huntsville with some of my grandchildren tomorrow, so I’m sending you the Friday report on Thursday.

    This week probably put the cap on silver and gold prices for a little while. Stocks are laboring to rise, but not convincingly. US dollar index is stuck, spinning wheels.

    Mama Yellen spake to the Senate Banking Committee, and her remarks are the reason cited by the media for stocks rise today. As usual, I couldn’t tease anything so optimistic out of her remarks, but observed she has adopted the Greenspan Technique of saying nothing in a lot of words. But if stocks were willing to rise on a speech like that, they were rising anyway.

    S&P500 made a new high close at 1,854.29, up 9.13 (0.49%) today and 5.99 higher than its last all-time high in January (1,848.30). There’s an old rule that says that breakouts don’t count until they exceed by 2% (some say 3%). So the S&P500 really needs a new high at (1,848.30 x 1.02%) 1,885.27 to create real excitement.

    Meanwhile, back on the chart, the S&P500 has merely sketched out a megaphone or broadening top. This can be a very long, frustrating formation, making higher highs and lower lows, reversing again and again until finally it breaks down. And the S&P500 might move higher still.

    But other markets ought to make stock buyers uneasy. Why is the Dow Industrials lagging so badly? Why is the Dow Transportation average lagging, too? Dow Industrial Average today rose 0.46% or 74.24 to 16,272.65. That remains a right smart below the 31 December 2013 16,588.25 intraday high.

    Think of silver and gold. They might play leapfrog from time to time, but they can’t continually contradict each other. That signals a reversal ahead. So it is with the various stock indices, they ought to confirm each other, and when they don’t, they’re whispering a warning.

    US dollar index today closed at 80.32, losing 12 basis points (0.15%) or half of what it gained yesterday. The Dollar index stands in a position at its trading range’s bottom where it might turn and climb, but so far it can’t even pierce its 20 DMA (80.63). Maybe Mama Janet can talk it up.

    Euro retraced today what it lost yesterday, up 0.17% to $1.3710. It has rolled over and acts as if it is breaking down. Yen gained 0.24% to 97.93, popping above its 20 DMA as if it had a mind to rise.

    Y’all enjoy your weekend!

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

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com

    © 2014, 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.

  • California Couple Finds $10 Million In Gold Coins In Their Backyard

      0 comments

    California Couple Finds Million In Gold Coins In Their Backyard
    A rare coin dealer says that a Northern California couple basically tripped over $ 10 million dollars last year when they discovered a can of old coins while out walking their dog. The couple were walking on their property in Sierra Nevada when they …
    Read more on Gawker

    US Mint Gold Coin Sales Falling In February
    Sales of Gold coins by the US Mint are heading for the worst month since September after prices climbed to a 16-wk high. The volume is at 24,500 oz so far in February from 91,500 oz in January, which was the highest since April, Mint data shows. Coin …
    Read more on Live Trading News

  • The Gold Price Gave Up $14.80 or 1.1% to End Comex at $1,328.20

      0 comments

    Gold Price Close Today : 1328.20
    Change : -14.80 or -1.10%

    Silver Price Close Today : 21.254
    Change : -0.709 or -3.23%

    Gold Silver Ratio Today : 62.492
    Change : 1.343 or 2.20%

    Silver Gold Ratio Today : 0.01600
    Change : -0.000352 or -2.15%

    Platinum Price Close Today : 1428.20
    Change : -13.85 or -0.96%

    Palladium Price Close Today : 731.50
    Change : -4.60 or -0.62%

    S&P 500 : 1,845.16
    Change : 0.00 or 0.00%

    Dow In GOLD$ : $252.11
    Change : $ 3.07 or 1.23%

    Dow in GOLD oz : 12.196
    Change : 0.148 or 1.23%

    Dow in SILVER oz : 762.13
    Change : 25.46 or 3.46%

    Dow Industrial : 16,198.41
    Change : 18.75 or 0.12%

    US Dollar Index : 80.440
    Change : 0.250 or 0.31%

    Silver and GOLD PRICES fell back sharply today. Silver lost 70.9 cents or 3.23% to 2125.4 cents. The gold price gave up $14.80 (1.1%) to end Comex at $1,328.20.

    The GOLD PRICE reach roughly it’s October high ($1,361.80) with today’s intraday high at $1,345.60. Whither from here? The 200 DMA stands at $1,305, major support/resistance at $1,300, and the neckline of the upside down head and shoulders gold broke out of stands about $1,380. Any of those might be targets, but gold will likely see several days of correction. A 50% correction of the end-December intraday low ($1,181.40) to today’s intraday high ($1,345.60) would take the gold price to $1,263.50.

    Biggest nailbiter is whether Gold will hold on here, or make one last plunge below the double bottoms of June and December. I don’t expect that, but it is a possibility that I must confess.

    The SILVER PRICE rising flag was already making me nervous yesterday, and I should have paid closer attention, especially with the RSI overbought. Today it dropped all the way down to the 200 DMA (2106c).

    A 50% correction from the December low (1872c) to the move’s high (2218) would pull silver back to 2045c. Coincidentally, 2050 is where silver made its giant breakout on 14 February. A 62% correction would send silver to 2000c.

    These aren’t prophecies, only forecasts and thinking out loud.

    Right now we just wait to see where this will stop.

    One good thing about this drop: it took the GOLD/SILVER RATIO up to 62.492, so you have a little more time to swap gold for silver above 60:1. I heartily recommend that swap.

    A reader asked me to explain why some bullion coins, like Mexican 50 pesos and Austrian 100 coronas) are cheaper than others (like American Eagles and Maple Leaves, etc.).

    The simple answer is found in the immortal words of Yogurt in the movie Space Balls: “Moichandizing!”

    Copying the Krugerrand’s success, all the modern coin mints distribute through 20 or 25 major wholesalers, and enforce a high premium (profitable to the mint) on the coins, higher as the coins get smaller. Without this cartel enforcing those high premiums, they collapse, as we saw in early 2000 after pre-Y2K buyers sold back all those American Eagles they had bought, knocking premiums down to zero.

    If you remember nothing else, remember this: OVER TIME PREMIUM ALWAYS DISAPPEARS. As a bull market keeps sending silver or gold up, it also grinds away at those premiums. At the market peak (I’ve been there) NO COIN carries a premium. At peak, nobody asks what KIND of ounces you have, only “How many?”

    Therefore you are throwing away money when you buy premium, like the higher premium on American Eagles and other modern issue coins. You will NOT recoup that premium when you sell. Same applies to so-called numismatic coins like US $20s and $10s. I have, by the way, charts of those premiums back to 1998 to prove that numismatic coins DO NOT outperform bullion. (“Numismatic” here means the common, plentiful semi-numismatic stuff some companies companies push, like US $20 golds. It doesn’t include genuinely scarce coins like an 1804 dollar.) Generally they mark those coins up 45% so they can pay the salesman a 25% commission, unlike bullion dealers who work on a 3.5% to 1% markup.

    Don’t bother sending me emails correcting me with some boiler room salesman’s sales pitch about confiscation, non-taxability, numismatic outperformance, non-reportability and other myths. I have 34 years’ experience in this business, not one year’s experience thirty-four times.

    So why are Austrian 100 coronas and Mex 50s cheaper? Because their premiums are not supported by a marketing cartel. Those were the most popular gold coins in the world until the Krugerrand was introduced in 1968 with one marketing ploy: it contained an exact ounce of gold, not 0.9802 oz (A100c) or 1.2057 oz (Mx50p).

    A coin can lose all its premium on the sell side, but arbitrage keeps them up on the buy side. If they fall much below their spot gold value, dealers will begin buying and melting them. That’s why at wholesale no gold coin every falls much below a 2% discount (98% of melt value), since they’re profitable to melt about there.

    Often dealers “talk their inventories.” If you ask about the lower premium coins, they’ll badmouth them because they don’t stock them and want to sell you what they have in stock. (Sorry, it’s a fallen world.) But it’s always in your interest to buy the lowest cost silver and gold you can get, because OVER TIME PREMIUM ALWAYS DISAPPEARS.

    And no matter how many times I explain all this, some people still buy high premium American Eagle gold and silver coins, and that’s fine. I tell people, “I’m your servant, not your master. Buy what you’re comfortable with, not what I’m comfortable with.”

    How much do you save with the Austrian or Mexican coins? Today about $40 an ounce. Not much if you’re buying one ounce, but you get nearly a quarter ounce free on ten ounces, nearly three ounces free on a hundred.

    Some dealers will also say that the Austrian or Mexican or other coins are hard to sell back (aren’t liquid). That is not true. Also, they’ll tell you the Mexicans have been heavily counterfeited. There have been a few counterfeits, but not good enough to fool any dealer worth his scale, so that’s no problem.

    Stocks were flat today. S&P500 rose 0.04 to 1,845.16 against yesterday’s 1,845.12. Who-hoo. Dow rose 18.75 (0.12%) to 16,198.41. Dow is refusing to confirm new highs in other indices, and those others are stuck.

    Today’s tumbles in silver and gold took the Dow in metals up. Dow in gold rose 1.08% to 12.18 oz (G$251.78 gold dollars). Dow in silver rose sharply, 3.62% or 26.68 oz, to 763.36 oz and above the 742.91 oz 200 DMA.

    US dollar index awoke today, but not like a giant refreshed with wine. Climbed 25 basis points (0.31%) to 80.44. It is still range trading in the lower third of its range, below all its moving averages. Today may mark a change in attitude, but the dollar index will have to show us.

    Didn’t take much from the dollar to knock the stuffing out of the euro. It fell 0.43% to $1.3686 and trying to turn down. Yen dropped 0.22% to 97.7 cents/Y100 and no change.

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

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com

    © 2014, 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.

  • The Gold Price Added $4.70 Closing Nearly at it's High at $1,343

      0 comments

    Gold Price Close Today : 1343.00
    Change : 4.70 or 0.35%

    Silver Price Close Today : 21.963
    Change : -0.088 or -0.40%

    Gold Silver Ratio Today : 61.148
    Change : 0.457 or 0.75%

    Silver Gold Ratio Today : 0.01635
    Change : -0.000123 or -0.75%

    Platinum Price Close Today : 1441.70
    Change : -12.00 or -0.83%

    Palladium Price Close Today : 736.10
    Change : 0.90 or 0.12%

    S&P 500 : 1,845.12
    Change : -2.49 or -0.13%

    Dow In GOLD$ : $249.04
    Change : $ (1.30) or -0.52%

    Dow in GOLD oz : 12.047
    Change : -0.063 or -0.52%

    Dow in SILVER oz : 736.68
    Change : 1.69 or 0.23%

    Dow Industrial : 16,179.66
    Change : -27.48 or -0.17%

    US Dollar Index : 80.190
    Change : -0.060 or -0.07%

    The GOLD PRICE added $4.70 to the $14.40 it gained yesterday and closed Comex at $1,343, nearly at the high. Silver, however backed off 8.8 cents to 2196.3c.

    After that brief pause last Thursday, gold resumed rising again today. The GOLD PRICE is nearing the October high at $1,362, but at the rate it’s moving probably won’t slow down for that. If it does slice clean through there without having to make two tries, gold will attract way more buyers. Gold is overbought, but can get more overbought, and the overboughtness can continue for weeks.

    The SILVER PRICE ought to break out of its flag tomorrow and continue higher by at least another 100 cents. Next soul searching comes at 2300c, and if silver can break through that, well, it will knock on 2500c.

    Every day adds more evidence that the long correction has ended. Y’all better be thinking about buying.

    The world’s biggest Bitcoin distributor, Mt. Gox, has gone off line, sunk beneath the waves of the future. Turns out Bitcoin has a quirk that allowed some dishonest souls to take Mt. Gox for nearly $400 million. Well, or take Mt. Gox’ customers, as the case may be. It was not reported today that any owners of gold or silver who had taken physical delivery had been shut down or lost their metal to a computer program back door. (Whoo, hush! I am sailing awfully close to sarcasm.)

    Yesterday raised many questions for stocks. Nasdaq and Nasdaq 100 rose to new high closes, S&P500 made a new intraday high. Can the Dow follow? It’s lagging far behind.

    Stocks opened lower today then about 11:00 tried to beat yesterday’s prices without any success. Indices all dropped today, stalled at the last highs. That’s not to say they can’t go higher.

    Dow today lost 27.48 (after adding 102.83 yesterday) to close at 16,179.66. S&P500 lost 2.49 (after gaining 11.46 Monday) to 1,845.12. Both have formed fatal broadening tops, but still make new highs before those megaphones exact their vengeance.

    Dow in Gold and Dow in Silver are both way oversold, but are not showing any mind to turn up and correct. DiG dropped 0.52% today to end the day at 12.05 oz (G$249.10 gold dollars), still above the 200 DMA at 11.95 (G$247.03). DiS rose 0.23% (1.69 oz) to 736.68 oz, below its 742.26 oz 200 DMA and in full return-to-earth mode.

    US Dollar index is not quite sorry as gully dirt, but it’s closing in on it. Lost 6 basis points today (0.07%) to 80.19, simply moving sideways right above support at 80. Been locked in the same trading range since September. Now THAT’S ambition.

    I just can’t get excited about any of these nasty, scrofulous, scabby, fleabitten fiat currencies. The euro is clogged like the drain in a beauty parlor, can’t go up and can’t go down. Would have to top $1.3800 to unstop that drain, or drop below $1.3700. That nasty yen ain’t no prize, either, dancing sideways over its 20 DMA. Ended today up 02.6% at 97.83.

    QUICK SPECIAL OFFER

    I usually don’t stock this many quarter ounce American Eagles so I need to square up my inventory right quick. I am pricing these to move, barely over wholesale.

    This price is based on spot gold at $1,343 and spot silver at $21.963.

    THE OFFER

    Six each one-fourth ounce gold American Eagle coins at $364.50 each for a total of $2,187.00 plus $35 shipping for a grand total of $2,222.00. That’s a premium of 8.6% over melt value.

    NOTE: I will levy only one shipping charge per order no matter how many lots you buy.

    Special Conditions:

    First come, first served, and no re-orders at these prices. I will write orders based on the time I receive your e-mail. Send email to offers@the-moneychanger.com

    Sorry, we will not take orders for less than the minimum shown above.

    All sales on a strict “no-nag” basis. We will ship as soon as your check clears, but we allow Two weeks (14 days) for your check to clear. Calls looking for your order two days after we receive your check will be politely and patiently rebuffed.

    It increases your chances of getting your order filled if you offer me a second choice, e.g., “I want to order Two lots but if not available will take One lot.” ORDERING INSTRUCTIONS:

    1. You may order by e-mail only to offers@the-moneychanger.com. No phone orders, please. Please do NOT order by replying to THIS email, because it will delay your email.

    Please include your name, shipping address, and phone number in your email. Surprising as it is, we cannot ship to you without your address. Sorry, we cannot ship outside the United States or to Tennessee.

    Repeat, you must include your complete name, address, and phone number. Our clairvoyant quit without warning last week, then I tripped, dropped, and smashed my crystal ball, and our fortune-teller is on strike, so I can no longer read your mind.

    2. When you buy from us, we cannot later change or cancel the trade. We are giving you our word that we will sell at that price, and you are giving us your word that you will buy at that price, regardless what later happens in the market, up or down.

    If you break your word to us, we will never again do business with you.

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

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

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

    6. 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.

    7. “No Nag Basis” means that we allow fourteen (14) days for personal checks to clear before we ship.

    8. Mention goldprice.org in your email.

    Want your order faster? Send a bank wire, but that’s not required. 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 if you send a check.

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

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com

    © 2014, 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.

  • The Gold Price Closed Higher at $1,338

      0 comments

    Gold Price Close Today : 1338.00
    Change : 14.40 or 1.09%

    Silver Price Close Today : 22.05
    Change : 0.27 or 1.23%

    Gold Silver Ratio Today : 60.68
    Change : -0.09 or -0.15%

    Franklin didn’t publish commentary today, if he publishes later it will be available here.

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

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com

    © 2014, 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.