• The Gold Price Backed Off $3.80 or 0.3 Percent Closing at $1,209.80

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    29-Apr-15 Price Change % Change
    Gold Price, $/oz 1,209.80 -3.80 -0.31%
    Silver Price, $/oz 16.67 0.08 0.48%
    Gold/Silver Ratio 72.573 -0.575 -0.79%
    Silver/Gold Ratio 0.0138 0.0001 0.79%
    Platinum Price 1,160.40 2.90 0.25%
    Palladium Price 784.75 3.80 0.49%
    S&P 500 2,106.85 -7.91 -0.37%
    Dow 18,035.53 -74.61 -0.41%
    Dow in GOLD $s 308.17 -0.31 -0.10%
    Dow in GOLD oz 14.91 -0.01 -0.10%
    Dow in SILVER oz 1,081.92 -9.65 -0.88%
    US Dollar Index 95.32 -0.87 -0.90%

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    5 Year Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart
    5 Year Silver Price Chart

    On the Comex the GOLD PRICE backed off $3.80 (0.3%) to $1,209.80, symbolically below $1,210, while silver rose 7.9 cents (0.5%) to $16.67.

    Let me give y’all another reason I believe the GOLD PRICE/US dollar index spread & the Silver/US dollar index spread are important. What drives silver & gold monetary demand is confidence or lack of confidence in the financial system. When confidence in the dollar falls, there’s a good chance confidence in the financial system is falling as well, since the dollar is the lynchpin currency in the world monetary system. So the spreads show people rolling out of dollars and into silver and gold.

    Gold/Bank Stock Index
    $Gold/$USD

    Another confidence indicator is the Gold/Bank Stock Index spread. That has been falling, of course, since 2011, but since 2014 has been range trading sideways. Bounced off the range’s bottom boundary in March, and has been trying to rise, walking through downtrend lines but not roaring upward. Chart on the right.

    Not so the $Gold/$USD spread. Broke out through upper triangle boundary & 50 DMA on Monday & his climbed those stairs like a champ ever since. Charts on the left.

    $Silver/$USD

    The vanilla gold and SILVER charts, that is, priced in US Dollars not the dollar index, don’t look quite as good. Technically silver had to pierce 1660c, but it can’t stop there. Gold must pierce $1,210 and then $1,225. Can’t stop to smell the jonquils. Oh, a day like today where gold digests $40 worth of gains made in two days is okay, but not stopping and going sideways, dancing over & under $1,210 for days and days. General Bedford Forrest used to say, “Get the skeer on ’em and keep the skeer on ’em.” That’s the way you win, not lollygaggin’.

    Gold/Silver Ratio

    The GOLD/SILVER RATIO is also moving in metals’ favor. At Comex close today it was 72.573, down 3.6% in four days, and again below the 20 & 50 DMAs & perched just above the uptrend line from the April 2011 low.

    I bought some silver today, kicking myself for not buying it last week, but still wary.

    Customers keep calling, buying large orders, expressing the same sentiment: “I just don’t trust the economy. I just don’t trust the government. I just don’t know what’s going to happen.” Y’all know I don’t encourage fear or greed, but I have to take notice when nearly every day I hear the same thing from people all over the country. Even if these folk’s apprehensions are wrong, the fact that they feel them says bad things about what the public expects.

    The yankee government’s lying first quarter 2015 GDP report came out at 0.2% annual growth, down from 2.2% in 4Q2014 & 5% in 3Q2014. Media shysters & economists immediately burbled all sorts of excuses to explain the growing economy that didn’t grow: bad weather, cheaper oil, strikes on the West coast, stronger dollar, bad karma. Let me be clear: all these are in the same class with excusing the lipstick on your collar to your wife by saying, “But, Honey, I was drunk & the bar was dark!” Res ipsa loquitur. Thanks to brilliant government spending and central bank management, the economy is smothering, but nobody wants to be the little kid who points out the emperor’s nakedness.

    FOMC meeting announces no change, no shift, no date when it will raise interest rates — Wait. Think how cosmic-ly stupid that statement is, as if 9 or 10 geniuses, let alone the goofs on the FOMC, really could determine what the “best” interest rate might be for an economy of 1000 people, let alone 330 million. Their opinion will yield a better result than the actions of 150 million economic participants? When hogs dance the Charleston.

    A country without a central bank is like an oyster without a piano.

    US Dollar

    But of all the unknowns in the world, the FOMC’s effect on the US dollar is not one: it fell. Yee-owch! US dollar index fell 87 basis points (0.91%) to a new low for the move at 95.32. That cut through but didn’t close below the lower trading channel boundary, raising the specter the dollar might break through that support by plunging through 95.15. Remember the Rule of the Parabolic Rise: what rises fast falls fast. Scary, scary chart.

    US Dollar 4 Year

    One dear reader reminds me that on 19 August 2011 I said, “Mistake me not! Long term the dollar is a cooked goose, a dead duck, a terminated turkey, a poached peacock.” Sounds right to me — I’ll stand by that. Last 4 years chart looks like a Chinese stock market, flatlining then doubling in 10 months.

    Euro

    After months of weakness & waiting, the Euro at last rose above resistance & confirms it intends to rally. Rose 1.23% to $1.1111.

    Yen actually fell 0.13% to 84.00. Apparently the Nipponese Nice Government Men didn’t want it to take advantage of the dollar’s fall.

    Crashing dollar is helping commodities. WTIC today rose 2.81% to $58.58/barrel. Copper rose 0.54% to 2.80 and made an equivocal breakout.

    Another thing we know about the FOMC announcement today: it didn’t help stocks. ALL stock indices dipped. Dow fell 74.61 (0.41%) to 18,035.53. S&P500 dropped 7.91 (0.37%) to 2,106.85. Notwithstanding the FOMC’s disruption today (remember, that’s the same as using “I was drunk” to explain that lipstick), that shows puniness in stocks, unable to climb through their upper boundary line resistance. And to work their way through, then fall back, that’s worse than being turned down for a job at McDonald’s.

    Watch the Dow at 18,034 – 18,039. It has closed there 5 times since 14 April. Inertia is carrying it down when it falls below that mark, or maybe holding it up.

    Looky here! Dow in gold fell 0.3% to G$308.22 gold dollars (14.91 oz.), falling further and further below its 50 & 20 DMAs. WFF: Will Fall Further.

    Oooch! Dow in silver fell S$12.55 silver dollars (9.71 troy oz) or 0.9% to S$1,398.85 silver dollars (1,081.92 oz). All systems pointing down.

    Symptomatic of the centralizing trend of the period 1650 – 2000, on 29 April 1707 the English & Scottish parliaments accepted the Act of Union creating the United Kingdom of Great Britain. Symptomatic of the Decentralizing trend that has begun in the last couple of decades, last fall there was a referendum in Scotland for independence and the will to secede is spreading all over the world.

    Aurum et argentum comparenda sunt — — Gold and silver must be bought.

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com

    © 2015, 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.

  • Gold Price Surged Another $10.70 or 0.9 Percent to Close Comex at $1,214

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    28-Apr-15 Price Change % Change
    Gold Price, $/oz 1,214.00 10.70 0.89%
    Silver Price, $/oz 16.59 0.20 1.20%
    Gold/Silver Ratio 73.172 -0.227 -0.31%
    Silver/Gold Ratio 0.0137 0.0000 0.31%
    Platinum Price 1,157.50 4.80 0.42%
    Palladium Price 780.85 1.30 0.17%
    S&P 500 2,114.76 5.86 0.28%
    Dow 18,110.14 72.17 0.40%
    Dow in GOLD $s 308.38 -1.50 -0.48%
    Dow in GOLD oz 14.92 -0.07 -0.48%
    Dow in SILVER oz 1,091.56 -8.71 -0.79%
    US Dollar Index 96.29 -0.65 -0.67%

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    5 Year Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart
    5 Year Silver Price Chart

    Yesterday I said silver & GOLD PRICES would have to make good their gains by closing over $1,210 and $16.60. We half made it. Gold price surged another $10.70 (0.9%) to close Comex at $1,214.00. Silver did close over $16.50, but rose only 19.7 cents (1.2%) to finish at $16.591.

    Today’s GOLD PRICE trading was marked by another 11:30 miracle. The gold price moved sideways nonchalantly until 11:30 then shot from $1,205 to $1,211 quicker than a condo developer can skin a prospect. One jump, then sort of rolled up to $1,215, & closed near the top of the day’s range.

    Gold/US Dollar Index

    But — O, mercy! — I am holding on to this. Gold in US dollar index spread gapped up and pulled away from that 50 DMA like a Saturn rocket. Look for yourself on the right.

    Silver/US Dollar Index

    Whooaaa! The Same chart for the SILVER PRICE is on the left. Look, look, two days to cut from below the bottom triangle boundary (in a failed breakdown) clean through the 20 & 50 DMAs and all the way to the upper triangle boundary!

    Slap, slap! Sober up, there! Silver still must bust through this $16.60 area and keep right on marching, no, make that running, toward $17.40, the last high. Up there at $17.41 lies the 200 DMA, the goal of all goals right now. Silver above the 200 DMA will panic shorts everywhere, and attract buyers.

    The gold price also must keep climbing. Made it through $1,210, now let’s see it clear $1,225.

    I bought some today anyway. I know I ought to wait, but I bought just a little, to wet my toes.

    By the way, those large orders keep coming in. Not massive numbers, but massive size. Serious people are spending serious money on silver & gold. Not a lot of them yet — the realizers, edging out of the way before the storm.

    Owch! Today the dollar index got busy proving that parabolic rises end always in woe, plunging for the fifth day running. O, Wo! It’s worse still. The Dollar index today lost 65 basis points (0.67%) to end at 96.29, right firmly beneath 96.50 support and back under the downtrend line which April’s rally had boosted it above.

    Mo wo! RSI points down, MACD points down, ROC & full stochastics all point down. Down it is, then! (And down another 20 bps in the aftermarket!)

    This week all rational people will be tortured once again by release of Federal Open Market Committee notes and more groundless speculation about when the Moros on the FOMC will raise interest rates.

    As if that weren’t painful enough to the fastidious mind, new coinages are being spawned like toads in spring to describe the Greek financial troubles. First was “Grexit,” a Greek Exit from the euro. Next came Greccident, an accidental exit from the euro. Now comes the most likely state, Grimbo, Greece In Limbo where the negotiations over Greek debt drag on world without end. Whole thing has me Grexhausted.

    Thinkin’ on it a while, I wouldn’t be surprised the Fed hadn’t contributed to slamming the dollar to help their fellow criminals in the European Central Bank while the Greek crisis drags on. Whoops! My suspicion is showing again. But the euro did rise 0.75% to $1.0971 today. The euro has a modest uptrend working, but must climb over $1.1040 to break out into a rally, but it hasn’t shown any more ambition than a vegan in a butcher shop.

    Yen rose only 0.13% to 84.12. No fun there.

    West Texas Crude
    Copper Price

    Inflation markets are dancin’. West Texas Intermediate Crude lifted 0.72% to $57.06/barrell. Rallying. Chart on the left. Copper’s on the verge of breakout, None of this matches or fits into the official Establishment “deflation” scare.

    More seesawing in stocks: Dow & S&P500 up, Nasdaq & Nasdaq 100 down. Dow rose 72.17 (0.4%) to 18,110.14 but not enough to convince me of any serious intent to rise. Closed barely above the downtrend line. Might happen, but all the back and forth decreases the likelihood. SP500 scraped up another 5.84 (0.28%) to 2,114.76. Also closed above downtrend line, but has done that 4 times already without betterment.

    [Don’t gloat. Don’t gloat. Don’t gloat.]

    Dow in Gold & Dow in Silver both tumbled further today. Both sliced through their closely-aligned 20 & 50 day moving averages like a sharp knife through Wonderbread balloon loaf.

    Dow in gold fell 0.45% to G$309.04 gold dollars (14.95 troy ounces). Down below a bare G$15 lies the 200 DMA at G$294.37 (14.24 oz). Dow in silver tumbled 0.99% to S$1,411.40 silver dollars (1,091.63 oz), on its way to the 200 DMA at S$1,308.38 (1,011.95 oz). Indicators all pointing straight down.

    Aurum et argentum comparenda sunt — — Gold and silver must be bought.

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com

    © 2015, 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 Punched Through it's 20 and 50 Day Moving Averages Closing Up at $1,203.30

      0 comments
    27-Apr-15 Price Change % Change
    Gold Price, $/oz 1,203.30 28.10 2.39%
    Silver Price, $/oz 16.39 0.76 4.85%
    Gold/Silver Ratio 73.399 -1.761 -2.34%
    Silver/Gold Ratio 0.0136 0.0003 2.40%
    Platinum Price 1,152.70 32.30 2.88%
    Palladium Price 782.15 12.20 1.58%
    S&P 500 2,108.92 -8.77 -0.41%
    Dow 18,037.97 -42.17 -0.23%
    Dow in GOLD $s 309.88 -8.15 -2.56%
    Dow in GOLD oz 14.99 -0.39 -2.56%
    Dow in SILVER oz 1,100.28 -56.04 -4.85%
    US Dollar Index 96.89 -0.21 -0.22%

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    5 Year Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart
    5 Year Silver Price Chart

    Something’s not right, and for a change it may be not right in our favor.

    The GOLD PRICE today rose $28.10 (2.4%) to end the day on Comex at $1,203.30. Silver rose 75.8 cents — 4.85% — to $16.394. More, this happened on options expiry day with a huge clot of $1,200 strike call options outstanding. One expects “Someone” to manipulate the price down on such days so that the options expire worthless — maybe they did the manipulating last week & bought back the options positions? This is not how the game usually works.

    Gold Price

    But standing back from the chart, putting your hand over the label & simply asking, “What’s this market doing?” brings only one answer: reversing upward.

    The GOLD PRICE actually punched through its 20 & 50 day moving averages ($1,197.86 & $1,192.22). This was brute strong trading action, but it can only count as a first step. Below $1,210 and $1,225, the gold price does no more than tread water.

    Still, this is hopeful, and points to very deep pocketed buyers below $1,180. Sort of sets a floor under gold. Chart’s on the right:

    During the day gold made tee-tiny progress until 11:30 a.m., when at a single bound it shot from $1,185 to$1,200, ran as high as $1,207, then settled back. No, I don’t know what the catalyst was, which points to something working on the floor, something opaque. Maybe all those short gold were spooked when it pierced $1,200? Whatever caused it, it shows strength.

    Gold Price/US $ Index

    Did I forget to mention that the gold price broke out today in the $gold:$USD, gold/US dollar index spread? Shame on me. Looky here at it above the 50 DMA on the right.

    Silver Price

    Gold was strong? Look at silver:

    The SILVER PRICE had formed a falling wedge, traded out into the nose, and today burst upwards & closed above the 20 & 50 DMAs.

    A close tomorrow above $16.60 for silver and $1,210 for gold would initiate a rally.

    After all the new highs last week, stocks just fizzled today. Dow lost 42.17 (0.23%) to end up at 18,039.97, again. S&P500 lost 8.77 (0.41%) to 2,108.92. Hear me now: these drops today LOUDLY refuse to confirm last week’s new highs. Disagreement means weakness. Breakout reversed, and was false.

    Gold/Silver Ratio

    Mercy! Look at that GOLD/SILVER RATIO In one short day it gapped down and regained everything it had lost in the month of April, but then bounced back up to close barely above the 20 & 50 DMAs. A sign of yet more strength.

    I’m much too nice to gloat, but if I was ever tempted to gloat, it would be today. That Dow in Gold hit that upper gator jaw Friday and even I was lower than a fat frog in a deep well. Bottom rail’s on top today, though. Shot straight down from Friday’s high to close at G$309.87 gold dollars (14.99 oz), down 2.17%. It cut through the 50 dma and stopped right at the 20 dma. Look, look, that top gator jaw HELD.

    Dow in Silver didn’t “decline,” it dropped straight down like the guest of honor at a hanging. Dropped S$64.93 silver dollars (50.22 troy ounces) to S$1,422.58 (1,100.28 troy ounces). Also landed sliced through the 50 DMA & skidded to a stop at the 20 DMA.

    The top gator jaws HELD.

    US dollar index helped metals some by dropping 21 basis points (0.22%) to 96.89, but it was a-workin’ in that direction long before gold & silver shot up, so that explains nothing.

    Today’s trading puts a whole new light on things. If silver & gold can just close higher tomorrow, we’ve got something cookin’!

    Aurum et argentum comparenda sunt — — Gold and silver must be bought.

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com

    © 2015, 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 $19.20 Lower on Comex at $1,175.20

      0 comments
    17-Apr-15 24-Apr-15 Change % Change
    Gold Price, $/oz. 1,202.90 1,175.20 -27.70 -2.3
    Silver Price, $/oz. 16.221 15.635 0.586 -3.6
    Gold/Silver Ratio 74.157 75.165 1.008 1.4
    Silver/gold ratio 0.0135 0.0133 -0.0002 -1.3
    Dow in Gold $ (DIG$) 306.34 318.04 11.69 3.8
    Dow in gold ounces 14.82 15.38 0.57 3.8
    Dow in Silver ounces 1,098.96 1,156.41 57.44 5.2
    Dow Industrials 17,826.30 18,080.44 254.14 1.4
    S&P500 2,081.18 2,117.65 36.47 1.8
    US dollar index 97.53 97.10 -0.43 -0.4
    Platinum Price 1,166.80 1,120.40 -46.40 -4.0
    Palladium Price 782.65 769.95 -12.70 -1.6

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    5 Year Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart
    5 Year Silver Price Chart

    About 11:30 Eastern time somebody pushed the GOLD PRICE over a cliff. Landed at $1,174.10, but was so bruised & beaten it barely crawled the rest of the day. Ended Comex (conveniently for the tape painters) down $19.20 (1.58%) to $1,175.20, near the low. Silver took a hit about the same time and plunged from $15.80 to $15.62. Comex closed down 19.3 cents (1.2%) at $15.636.

    Y’all may think these theatrics are a big deal, but they’re not. Clearly some deep-pocketed sellers came in, but this was all they could do. Y’all ought to have been around 12 April 2013 when the GOLD PRICE fell from $1,580 to $1,480 in one day, then next day fell to $1,367. I was numb for a week — seven days, count ’em.

    Gold Price

    Can silver & gold prices fall further? Of course they can, just like stocks may rise further, but the limit is in sight. Gold has to trade below $1,165 to break the bowl rounding formation. Nobody likes a $19.20 drop, but it doesn’t wreck the charts and call for vastly lower prices. That’s the difference between April 2015 and April 2013.

    Silver Price

    The SILVER PRICE dipped below that uptrend line from the December 2014 low — not much, but below. I don’t like that at all, and silver is tapping on the bottom of that bowl here.

    Possess your souls in patience! You have to pay a price for disbelieving a government lie, and there’s never been a bigger lie hatched by any adder than central banking and fiat money. Reality is on our side.

    Hard week for silver & gold prices, but don’t let stocks crow too quickly or loud. Dollar appears broken.

    By a gnat’s eyebrow the S&P500 made a new high today, but lo, you couldn’t hear for the touts a-crowin’. Nasdaq Comp yesterday finally exceeded by pennies and small change its 2000 peak of the dot com bubble. Fifteen years to recover doesn’t sound like braggin’ rights to me, but mercy! I live so fur back in the woods we have to order sunshine from Sears & Roebuck. What do I know? I’m jes’ suspicious cause the Dow and other indices ain’t movin’ too fast to new highs.

    Here’s a trick topping markets play that will skewer the naïve. They’re plumb bulls because they’ve gotten aboard late and ridden a ways, then the market plainly is peaking, but they can’t believe it. The market makes one last dying spurt, exceeds old highs or resistance lines, and the naive pile in — just in time to watch the market dive down a manhole. That’s the reason for that “market must exceed old high by 3%” rule.

    I tell y’all that because here as April’s clock is ticking away & we are about to enter the Season of Death for stocks (“Sell in May & go away,” sez the proverb), after a more than 6 year uptrend, stocks are not going to extend their uptrend another year, or six years. And I know it’s flat frustrating to be sitting there in gold & silver taking a beating, but don’t make the worst mistake of all, climbing off one market turning up (gold & silver) for another turning down (stocks).

    Dow in Silver

    For all the talk of new highs, the Dow rose an embarrassing 21.75 (0.12%) to 18,080.44, a ways from the last high at 18,288. S&P500 did make a new high, rising 4.72 (0.22%) to 2,117.65 against its last high at 2,115.48. That’s an achievement worthy of the Lilliputian armed forces.

    Dow in Gold

    Dow in gold is poking its head into the top gator jaw. Rose 1.68% to G$318.14 gold dollars (15.39 troy ounces). Dow in Silver hit its top gator jaw at S$1,495.03 silver dollars (1,156.31 oz). I told y’all this was going to vex your socks off and work on your shirt, too, so don’t be surprised.

    US Dollar

    Best news today is the US dollar Index closed below the 50 day moving average (97.32) to confirm its downtrend. Today it lost 36 basis points (36%) and ended at 97.10. Watch 97.50 first.

    Euro rose 0.45% to $1.0873 today, at last above its 20 DMA but beneath its 50 DMA still. In other words, it’s a rally moving like that race between the tortoise and the snail.

    Japanese yen rose 0.48% but remains rangebound at 84.05.

    Y’all enjoy your weekend.

    Aurum et argentum comparenda sunt — — Gold and silver must be bought.

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com

    © 2015, 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 Rose $7.50 Closing Above its 50 Day Moving Average at $1,194.40

      0 comments
    23-Apr-15 Price Change % Change
    Gold Price, $/oz 1,194.40 7.50 0.63%
    Silver Price, $/oz 15.82 0.03 0.21%
    Gold/Silver Ratio 75.480 0.317 0.42%
    Silver/Gold Ratio 0.0132 -0.0001 -0.42%
    Platinum Price 1,136.20 -22.10 -1.91%
    Palladium Price 769.60 -18.65 -2.37%
    S&P 500 2,112.93 4.97 0.24%
    Dow 18,058.69 20.42 0.11%
    Dow in GOLD $s 312.55 -1.62 -0.52%
    Dow in GOLD oz 15.12 -0.08 -0.52%
    Dow in SILVER oz 1,141.22 -1.09 -0.10%
    US Dollar Index 95.00 0.04 0.04%

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    5 Year Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart
    5 Year Silver Price Chart

    Silver and GOLD PRICES today added to our frustration by rising again, more of the pendulum we’ve been watching so long. That stubborn refusal to follow through on falls looks like the long correction is exhausted — over.

    The GOLD PRICE rose $7.50 to $1,194.40, bouncing away from that last low ($1,183.50) & above the 50 DMA ($1,193.36). The SILVER PRICE scraped 3.3 pennies off the floor to close at $15.824.

    Gold Price/USD Index

    Listen, the longer they refuse to plunge and make new lows, especially after the sort of day the gold price had yesterday, the better. Both have bounced up off support. Both silver & gold prices remain within those bowls I talked about, & neither have broken out the bottom. The $gold:$US dollar index spread also bounced off support, but can’t or hasn’t climbed above the 50 day moving average. Look here,

    Something else is poking me in the mind, too. While our business has been lethargic this year, some might say comatose, within the last four weeks or so very large orders have been coming in, serious buyers putting serious money into silver and gold. Res ipsa loquitur.

    I rarely ask y’all for favors, but I have devoted a large piece of my life to returning this country to gold and silver money, and I need one now. Sound money is the chief political-economic issue in our time. Until it’s fixed, banks & government will keep on bleeding you and your family dry.

    Odd thing happened today. Like symphony orchestras, markets ought to play in tune, or something’s wrong. When related markets play out of tune, strings will break.

    The Nasdaq Composite today finally posted a marginal new high above its March 2000 high close, 5,048.62 then against 5,056.06 today. Fifteen years is a long time to wait for eight points, but there it is. NYSE also made a marginal new high, 50 points on 11,118.

    Here’s where they have to get in tune: no other indices made new highs. Now, they might do that tomorrow or the next day, but if the others fail to make new highs, or, worse yet, turn down, then that disharmony reveals underlying weakness. ‘Twould be the same if gold kept rising to new highs with silver lagging further and further behind.

    Dow today rose 20.42 (0.11%) to 18,058.69 while the S&P500 added 4.97 (0.24%) to 2,112.93 — neither at new highs. However S&P500 closed slightly above its upper triangle boundary. Dow remained below it upper channel line.

    Even if stock indices made new marginal highs, so what? At six years and a month old, the present upmove in stocks is one of history’s longest. Want to bet on it extending another year? How about trying to draw a Queen to finish out that A-K-J-10 straight?

    Dow in Gold & Dow in Silver both fishhooked down today, not enough to talk about.

    US dollar index finally felt around with its feet in the dark long enough to find the trap door and fall through it. Fell 68 basis points (0.7%) and almost touched the 50 DMA (97.28, left the 20 DMA behind at 98.25). That ought to have broken the back of its strength, but it needs to close below that 50 DMA and 96.50 support before we can pronounce it dead for sure.

    Euro rose 0.92% to $1.0824, above its 20 DMA for the first time in three weeks. Yen rose 0.33% to 83.65. Neither currency has established a rally.

    I recently met Keith Weiner and the Gold Standard Institute (GSI). When I looked closer at his work and the Institute, I immediately recognized the rare depth of his understanding, and the Institute’s powerful potential in the war for sound money. I asked Keith to write a note about the Institute so that I could share it with y’all, because there are so few effective means to fight paper money. Here’s one of them. Please read carefully Keith’s note, and as a favor to me, consider his plea for help. Thanks — Franklin Sanders

    “For the third year, the Gold Standard Institute helped convince the Arizona legislature to pass a bill recognizing gold and silver coin as money, the first crucial step to restoring a gold and silver standard and rescuing our economy from the chaos of fiat money. Again, the legislature passed the bill, only to watch the Republican governor veto it.

    “As GSI Chairman I just flew to Texas to testify before the Texas Senate Business and Commerce Committee on a similar bill currently moving through the legislature.

    “What is our brightest hope of restoring sound money? Not Congress, which is no friend of gold, but the states. There legislators will listen.  There we can build momentum, and prove that it’s practical to remove the roadblocks to circulating gold and silver. Utah has led the way. Arizona came close this year. Texas may pass it. Your state could be next.

    “Energizing people is key. Not even conservative politicians vote for gold unless people demand it.

    “But Gold Standard Institute can’t do it alone: we need help from friends of sound money everywhere. We need funding to travel. We have to reach more people, which means producing high quality videos, and distributing them. Unlike the friends of paper money, we have no megabanks to lavish us with funds, no corporate lobbyists, no speculators, no predators.  We are just the people, fighting to save our economy, ourselves, & our children from the dollar’s fatal disease:  inflation, deflation, zero interest, and economic devastation.

    “Every other day or so, you pump $25 to $60 worth of gas into your car without ever thinking about it.  Right now, we need you to help fuel our effort to restore sound money, one state at a time.  We can’t fly to your state and testify unless we can buy an airplane ticket.  Your $50 gets us up into the air, another $200 helps us land, $75 puts us up for the night.

    “Your $100 contribution will pay for about three seconds of animated video or about one second of cinematic video” the kind of material that people like to share. The kind of material that can “go viral.” Like ending Prohibition, or now the War on Drugs, the key to change is enough getting enough people made enough to make a change.

    “Would you help us? Please go to http://goldstandardinstitute.us/?page-id=817 And thank you for hearing me out, and helping.” Keith Weiner”

    Aurum et argentum comparenda sunt — — Gold and silver must be bought.

    – Franklin Sanders, The Moneychanger
    The-MoneyChanger.com

    © 2015, 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.