• The Gold Price Closed at Down $3.40 at $1,294.90

      0 comments
    30-Jul-14 Price Change % Change
    Gold Price, $/oz 1,294.90 -3.40 -0.26%
    Silver Price, $/oz 20.56 0.01 0.06%
    Gold/Silver Ratio 62.99 -0.20 -0.32%
    Platinum Price 1,438.00 -6.20 -0.43%
    Palladium Price 883.00 -0.45 -0.05%

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart

    Sorry, the Moneychanger will not publish a commentary today. He has gone ot the hospital to be with a friend in ICU gravely ill with a tickborne infection. He asks that you pray for Daniel Freemon, his dear friend.

    Aurum et argentum 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 Dropped $5.00 Closing at $1,298.30

      0 comments
    29-Jul-14 Price Change % Change
    Gold Price, $/oz 1,298.30 -5.00 -0.38%
    Silver Price, $/oz 20.55 0.02 0.10%
    Gold/Silver Ratio 63.190 -0.305 -0.48%
    Silver/Gold Ratio 0.0158 0.0001 0.48%
    Platinum Price 1,483.20 -6.20 -0.42%
    Palladium Price 879.30 -0.45 -0.05%
    S&P 500 1,969.95 -8.96 -0.45%
    Dow 16,912.11 -70.48 -0.42%
    Dow in GOLD $s 269.28 -0.08 -0.03%
    Dow in GOLD oz 13.03 -0.00 -0.03%
    Dow in SILVER oz 823.13 -4.24 -0.51%
    US Dollar Index 81.32 0.19 0.23%

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart

    This has to be fast because I have to drive up to the hospital in Columbia where one of my best friends in the world has been taken. I seldom ask y’all for favors, but I’m asking one today: Please pray that God would heal my dear friend Daniel Freemon. His wife died last 5 November and he has a six year old daughter.

    I’ll make this brief.

    The GOLD PRICE today dropped $5.00 (0.38%) to $1,298.30, crushing support at $1,305 & $1,300. Kept on trading lower in the aftermarket. Some support waits at $1,295, but downward momentum suggests the GOLD PRICE will fall below its last low at $1,287.50. Needs a close above $1,320 to reverse.

    Silver & gold gainsaid each other today, gold down $5 and the SILVER PRICE up two measly cents. 2050c is showing itself stronger than I expected, but still look for a further drop to 2000c or 1975c.

    Any sharp, sudden drop in silver & gold prices offers Y’ALL the opportunity to load up the boat. Don’t pass it up.

    Stocks continued to erode. Dow lost 70.45 (0.42%) to 16,912.11. S&P500 did worse, down 8.96 (0.445%) to 1,969.95. Both closed dead at the bottom of their range today. Both have fallen out of rising wedges. Acting as if they want to fall to the 50 DMA, but could turn around in the next day or so. If not, will drop much lower.

    US dollar index confirmed an uptrend with a 19 basis point (0.23%) rise to an 81.32 close. Still must cross 81.50 to confirm the rally.

    Can’t think any more, must run. Please pray for Daniel.

    Aurum et argentum 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 Remained Unchanged at $1,303.30

      0 comments
    28-Jul-14 Price Change % Change
    Gold Price, $/oz 1,303.30 0.00 0.00%
    Silver Price, $/oz 20.53 -0.06 -0.30%
    Gold/Silver Ratio 63.495 0.191 0.30%
    Silver/Gold Ratio 0.0157 -0.0000 -0.30%
    Platinum Price 1,489.40 11.80 0.80%
    Palladium Price 879.75 0.95 0.11%
    S&P 500 1,978.91 0.57 0.03%
    Dow 16,982.59 22.02 0.13%
    Dow in GOLD $s 269.36 0.35 0.13%
    Dow in GOLD oz 13.03 0.02 0.13%
    Dow in SILVER oz 827.37 3.56 0.43%
    US Dollar Index 81.12 -0.02 -0.02%

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart

    I don’t like double closes, or near double closes, where a market closes at X one day then next day closes unchanged. Often it indicates a trend failing. Silver and GOLD PRICES both traded flat today in small ranges. Silver lost 6.2 cents to 2052.6c while gold closed unchanged — that’s right — at $1,303.30.

    GOLD PRICES indicators have index fingers pointed toward the earth. Gold needs to close above $1,320 to break upward. If it breaks $1,300 tomorrow it will retest the previous low and 200 DMA at $1,287.

    The SILVER PRICE support from 2050c to 2035c has to hold or silver will fall back to prove itself at 1975c.

    I anticipate that by the end of Augusts’ first week, lows will have been passed.

    Stocks faded about half the day, then climbed enough to get their noses out from under the water. Dow rose, but not enough to brag about, only 22.2 or 0.13% to 16,982.59.

    Y’all recall that on Friday the Dow fell out of that latest rising wedge within a rising wedge. That makes it a safe bet it will touch the 50 DMA, nearby at 16,858. Today the uptrend line from the March 2009 low stands at about 16,720. Should the Dow fall through that line, folks on Wall Street will shave their topknots and start fasting and praying to the money god to save them. Indicators all point down, witnessing the fall will fall more, and that Russell 2000 small cap index looks like it’s been eating bad meat. Y’all can see a chart at http://bit.ly/1qcyiv7

    Get out your microscopes! S&P500 rose 0.57 (0.03%) to 1,978.91. Bottom boundary of the S&P500’s trading channel is at 1,964, and below lieth an air pocket. 50 DMA is camped at 1,948.

    Dow in Metals offers a slightly confused picture right now. Dow in Gold rose 0.5% to 13.02 oz (G$269.15), and just above at 13.03 (G$269.35) lurks the 50 DMA. Should rise much above that or it will pierce the downtrend line. Dow in silver has risen through three fan lines, hit the 50 DMA above, then backed down. Today it rose 0.98% to 823.60 (S$1,064.86). Pears both of them have completed a correction to their falling trend, but I am patiently awaiting confirmation.

    If I get to choose my friends, the US Dollar Index ain’t gonna rank among ’em — too unpredictable and untrustworthy. It’s bite the hands of friends and then gnaw ’em off. It backed off two basis points today to 81.12. That’s not amazing as it fights to get through the neckline of an upside-down head and shoulders.

    Yield on the 10 year treasury note (my proxy for interest rates in general) threatened to free-fall last week, but then slapped itself and mumped up. It has not, however, jumped out of danger’s road. Closed at 2.491 today, and needs to close above 2.625 to confirm it has changed its direction to up.

    Aurum et argentum 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.

  • We Will See a Short Spike Downward in Silver and Gold Prices

      0 comments
    18-Jul-14 25-Jul-14 Change % Change
    Gold Price, $/oz. 1,309.20 1,303.30 -5.90 -0.5
    Silver Price, $/oz. 20.838 20.588 -0.25 -1.2
    Gold/silver Ratio 62.828 63.304 0.476 0.8
    Silver/gold ratio 0.0159 0.0158 -0.0001 -0.8
    Dow in Gold Dollars (DIG$) 270.01 269.01 -0.99 -0.4
    Dow in gold ounces 13.06 13.01 -0.05 -0.4
    Dow in Silver ounces 820.62 823.81 3.18 0.4
    Dow Industrials 17,100.18 16,960.57 -139.61 -0.8
    S&P500 1,978.22 1,978.34 0.12 0.0
    US dollar index 80.61 80.61 0.00 0.0
    Platinum Price 1,489.20 1,477.60 -11.60 -0.8
    Palladium Price 880.50 878.80 -1.70 -0.2

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart

    The GOLD PRICE fought back today with a $12.50 (1%) rise to 1,303.30 and silver rose 1% (21.2 cents), too, and closed Comex at 2058.8c. That brought the GOLD/SILVER RATIO down to 63.304 from yesterday’s 63.339. Today’s rise notwithstanding, no proof yet surfaces that the correction hath ended.

    Sure, silver and GOLD PRICES touched their 200 day moving averages yesterday, which often limits a correction. Can’t say that yet, and I still suspect we will see a short spike downward in both metals. Both weekly charts are trending down.

    Overhead you will know this correction has ended when you see the SILVER PRICE close above 2120 cents and the gold price over $1,325.50. Down below, if the low hasn’t yet been seen, gold could hit $1,265 – $1,280, silver 1980 – 2000c. Lower is conceivable, but not my expectation.

    Better take your chances buying QUICK. These low prices won’t last much longer.

    Stocks behaved very strangely this week, and strangely is seldom good.

    S&P500 hit a new high close yesterday, 1,987.98, but all that gain was stripped away today when the S&P500 lost 9.64 (0.48%) to 1,978.34. Here’s where it gets weird: that’s 0.12 points above last week’s close, so by the tiniest margin the week cannot be classified as the first part of a key reversal (break into new high for the move with a lower close). Add to that the Dow’s failure to make a new high, and that all other indices fell the day the S&P500 made that new high.

    Today the Dow tumbled 123.23 (0.72%) to close at 16,960.57. The weekly Dow closed lower, too. Both weekly charts show bearish rising wedges, leaving me thinking it is only a matter of short time before both indices collapse into a correction of at least 10%, with the ultimate high later this year.

    The Daily Dow fell down out of it’s rising wedge with a no nonsense “I’m falling to the earth’s core” dive Closed beneath it 20 DMA (17,004) and the MACD and RSI were already falling. Look for a touch of the 50 DMA at 16,847.

    Right now the uptrend line from March 2009 about 16,700. ‘Twould be serious bidnis indeed if the Dow fell thru that.

    Dow in metals had a zig zagging week, sharply higher and sharply lower. Dow in silver bounced off its 50 dma (836.81 oz or S$1,081.94 silver dollars) and fell 2,51% today to close at 815.61 oz (S$1,054.53). The correction’s A-B-C shape allows it to called “complete”, but a close below the 200 DMA (802.95 oz or S$1,038.16) is needed to confirm that. Better still would be a close below the last low at S$1,018.63 (787.85 oz). Indicators are turning down.

    Dow in Gold’s shape might also mark completion. It leaves behind a double-toppy appearance, with tops at 13.184 (G$272.54) and 13.200 (G$273). Today it plunged 1.18% to a farewell at 12.96 oz (G$267.91. It did cut through the 50 DMA (13.02 oz or G$269.15) and standeth not far from its 20 dma (12.92 oz or G$267.08). DiG will confirm its correction has ended when it closes below the last low at 12.645 oz (G$261.39).

    My, this IS interesting, stocks faltering against metals. My, my.

    That there US Dollar index is just arunning like a house afire. Cleared the neckline of an upside down head and shoulders it has been forming since March. Grabbed a respectable 20 basis points today (0.25%) and closed at 81.14. To break out of its range and prove a rally it must still climb over 81.50. Dollar’s got a full load on, moving so fast it’s leaving scales and a sulfur trail wherever it goes.

    Euro is signalling a very sizeable fall. It dropped 0.26% today, complete with a gap down, never a good sign. Ended at $1.3429.

    Well, the yen did it today — broke plumb through the bottom boundary of that long narrow triangle. Opened up down there, but managed to end the day smack on the line and smack on its 200 DMA (98.20), closing down 0.02% at 98.20. Sure acts as if it wants to nosedive.

    Ten year treasury yield tried to break out of its short term (since early July) downtrend, broke through the line yesterday, but fell back today to land on 2.469%. Needs to close above 2.55% before Janet Yellum starts getting that “I ate too many of them green apples” look on her gracious physiognomy, bless her little heart.

    On 25 July 1850 Gold was discovered in the Rogue River in Oregon.

    Y’all enjoy your weekend!

    Aurum et argentum 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 Broke it's Support and Avalanched 1.07 Percent to Close Comex at $1,290.60

      0 comments
    24-Jul-14 Price Change % Change
    Gold Price, $/oz 1,290.60 -13.90 -1.07%
    Silver Price, $/oz 20.38 -0.58 -2.75%
    Gold/Silver Ratio 63.339 1.078 1.73%
    Silver/Gold Ratio 0.0158 -0.0003 -1.70%
    Platinum Price 1,472.70 -12.30 -0.83%
    Palladium Price 869.96 -3.35 -0.38%
    S&P 500 1,987.98 0.97 0.05%
    Dow 17,083.80 -2.83 -0.02%
    Dow in GOLD $s 273.63 2.87 1.06%
    Dow in GOLD oz 13.24 0.14 1.06%
    Dow in SILVER oz 838.43 22.91 2.81%
    US Dollar Index 80.94 0.06 0.07%

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart

    Oh, owch! Welcome back, volatility! The GOLD PRICE broke that $1,305 support hard and avalanched $13.90 (1.07%) to close Comex at $1,290.60. Silver sledded 2.75% or 57.6 cents to 2037.6, right on the 200 DMA.

    I note between gritted teeth that both the silver and GOLD PRICE punched through their 300 day moving averages today, as well as the uptrend lines which had been supporting them.

    The SILVER PRICE landed on its 200 DMA (2035c) as did gold ($1,287) in this twin fall, but gold rose up off its 200. Gold has some internal lateral support that runs back to 2013 right at $1,387, too.

    Last gold price breakout occurred around $1,280, so everybody expects this correction will fall that far and stop, which means it probably won’t. Another target is a roughly 75% correction of the preceding rise from $1,240.20 to $1,346.80, or about $1,265. Of course, it could stop at that $1,280, IF it breaks the 200 DMA ($1,287). Does this sound as if I am vacillating? Ought to, because I am.

    Silver enjoys strong support at 2000c and at 1975c. 50 DMA also stands ready to catch it at 2015c. I’ll buy a little tomorrow one way or the other, just so I don’t miss out.

    GOLD/SILVER RATIO rose 1.7% to 63.339 from yesterday’s 62.258. That catches my eye because it matches the high a couple of weeks ago. Ratio looks overstretched to the upside, which hints that the silver and gold’s fall will be short-lived.

    In this Best of All Possible Worlds, the sick Portuguese Espirito Santo Financial Group that owns 20% of sick Banco Espirito Santo is trying to dodge behind the bankruptcy curtain in Luxemburg. That’s the third company in a week linked to the Espirito Santo family.

    But in this Best of All Possible World’s bankruptcy is no stigma, makes no one nervous, and roils no stock indices. I reckon they all look at it as the Best of All Possible Bankruptcies.

    In the US all indices but the S&P500 wavered slightly, but a bit nervously. S&P500 added 0.97 (0.05%) to rise to a new high above yesterday’s at 1,987.98. No, that was not an epochal accomplishment, and only nudges the S&P500 up a little closer to its upper trading channel line. It is rising on rising volume. In this Best of All Possible Worlds, everything is possible.

    The Dow dropped for the second day running, down 2.83 (0.02%) to 17,083.80. Trading out into the nose cone of a bearish rising wedge, it can rise higher, even to 17,300, maybe even overthrow the upper boundary of that wedge. Yet a certain doominess hovers over all, for an end to this looms ahead shortly.

    But in this Best of All Possible Worlds, anything is possible.

    Steady-ish stocks and falling metals pushed the Dow in gold and Dow in silver higher today. Dow in silver jumped to its 50 DMA (837.31 oz or S$1,082.58) and closed 2.63% higher at 836.83 oz (S$1,081.96). Dow in gold burst through its downtrend line and rose 1.06% to 13.24 oz (G$273.69 gold dollars). Y’all don’t act like I didn’t tell y’all this was coming. And it has further to rise still.

    The Best of All Possible Scrofulous Fiat Currencies, the US Dollar, managed by the Best of All Possible Central Banks, rose six basis points (0.07%) today to end at 80.94. It appears to be rallying, and threatens a roughly two hundred basis point rally, i.e., to 82.75.

    In this BOAPW even the euro rose today, up 0.03% to $1.3464, but still sick as a poisoned dog. Lower prices seem inevitable, but remember that all scrofulous, rotten fiat currencies are manipulated, subject to the secret cosmic motions and goofy policies that take hold of central bankers’ minds.

    The Yen has fallen all the way to the bottom side of its narrow triangle below its 20 DMA (98.46) and on top of its 50 DMA (98.23). If it makes one baby step lower, it falls out of the triangle for a long tumble.

    Aurum et argentum 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.