• The Price of Gold Rose $1.40 Ending the Week at $1,172.90

      0 comments
    26-June-15 Price Change % Change
    Gold Price, $/oz 1,172.90 1.40 0.12%
    Silver Price, $/oz 15.74 -0.07 -0.44%
    Gold/Silver Ratio 74.54 0.42 0.56%

    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

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

    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 Price of Gold Shaved Off $1.10 Today Closing at $1,171.50

      0 comments
    18-Jun-15 25-Jun-15 Change % Change
    Gold Price, $/oz. 1,201.50 1,171.50 -30.00 -2.5
    Silver Price, $/oz. 16.148 15.808 0.34 -2.1
    Gold/Silver Ratio 74.405 74.108 -0.297 -0.4
    Silver/gold ratio 0.0134 0.0135 0.0001 0.4
    Dow in Gold $ (DIG$) 311.68 315.69 4.00 1.3
    Dow in gold ounces 15.08 15.27 0.19 1.3
    Dow in Silver ounces 1,121.86 1,131.73 9.87 0.9
    Dow Industrials 18,115.84 17,890.36 -225.48 -1.2
    S&P500 2,124.24 2,102.31 -21.93 -1.0
    US dollar index 94.24 95.39 1.15 1.2
    Platinum Price 1,082.50 1,084.40 1.90 0.2
    Palladium Price 718.60 679.15 -39.45 -5.5

    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 won’t break down, but they won’t break up, either. The price of gold shaved off $1.10 today closing at $1,171.50. Silver gave up 4.5 cents for a $15.808 Comex close.

    Yes, it was a rotten week for the GOLD PRICE. It lost 2.5% or $30. Silver lost 34 cents or 2.1%. But most of that loss fell on Monday for the price of gold, and Tuesday for the silver price.

    If the gold price closes below its last low, $1,162.10, then it will drop to someplace between there and $1,141.60. A lot of folks are expecting a big drop, say to $1,100 or lower. I don’t see it. One reason is the buying support I suspect lurks just under this market. This week we have seen serious buyers come back with large orders. I don’t solicit business, so this is spontaneous. So maybe the gold price sees a fast spike down, but not too long and not too far. Up above gold does nothing — it’s all meaningless noise — until it climbs above $1,205.

    What will a resolution in Greece do to the price of gold? If Greece doesn’t leave the euro, nothing much. Oh, gold might drop a little on the news, but all that safe-haven demand has been beaten out of gold, no doubt by the Nice Government Men, scared to death the Greek crisis might precipitate a enlightenment of the Mushrooms and a stampede into gold. If Greek did leave the euro, the gold price would get a boost. How long that lasts depends on the knock on effects of the Grexit.

    The SILVER PRICE keeps holding on above $15.50, where there’s lateral support. Break that and silver might crumple to $14.50 in a sudden spike, as suddenly over. Overhead silver must climb over $16.40 to make any difference.

    June and July are the time of the year for seasonal lows in silver and gold prices. I suspect those lows will be made by 15 July.

    I’m closing the week early because I’m driving down to Alabama tomorrow with my son to look at Southpoll cows. God willing, I’ll be back on Monday.

    Dead and directionless markets. Silver and gold price rallies failed this week and metals tumbled. Stock market volatility continues, as stocks can’t hold on to gains and rallies quickly become routs. End is near. US dollar index is undecided. Greek cloud still hangs over the market, blocking big moves.

    Stocks had a plumb rotten day. Dow lost 75.71 (0.42%) and closed below its 20 DMA. Point to watch is 17,700, which roughly coincides with the 200 DMA at 17,670.34. Stocks right now are pointed down, but could still rally as high as 18,400. This shouldn’t last much longer. A close below the 200 DMA could be the trigger an avalanche.

    Dow gave up 6.27 (0.3%) to 2,102.31. It too, closed below the 20 DMA tripwire. A close below 2,075 will bring trouble. Rally as high as 2140 is possible, but next move will be down. Earlier in the week the Dow in gold peeked through the top gator jaw of that broadening top, but today closed again beneath it at 15.26 oz, down 0.27%.

    Dow in silver never reached that top jaw before it turned down. Ended down 0.14% today at 1,131.94. This latest attempt by stocks to push up out of the gator jaws has failed, more evidence stocks are rolling over against metals.

    I am inclined to expect that the Greeks will not exit the euro. Not that Greece itself is that big and important, but its exit is just the point of a needle that the European balloon can’t stand. If Greece left, others might get ideas.

    US dollar tried to rally but now has stalled at the 50 DMA. Again, market is waiting for Greece cloud to lift so they know which way to lean. Euro lost 0.01% to $1.1204. Yen gained 0.2% to 80.88. Meaningless for both.

    The bond bubble may have begun to burst. The 10 year treasury yield is bumping against the downtrend from 2007 and has staged a SERIOUS rally since 1 February, from 1.651% to 2.393%. 30 year bond yield has risen from 2.226% to 3.156% and is way above the 200 DMA (2.836%). When those yields start rising in earnest, the Fed is going to have a basement flooded with sewage, and find out just how clever they are at pumping.

    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 Closed Down at $1,172.60

      0 comments
    24-Jun-15 Price Change % Change
    Gold Price, $/oz 1,172.60 -3.60 -0.31%
    Silver Price, $/oz 15.85 0.12 0.74%
    Gold/Silver Ratio 73.99 -0.77 -1.04%

    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

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

    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 Dropped $7.50 or 0.63 Percent Closing at $1,176.20

      0 comments
    23-Jun-15 Price Change % Change
    Gold Price, $/oz 1,176.20 -7.50 -0.63%
    Silver Price, $/oz 15.73 -0.41 -2.51%
    Gold/Silver Ratio 75.242 1.424 1.93%
    Silver/Gold Ratio 0.0133 -0.0003 -1.89%
    Platinum Price 1,067.20 6.90 0.65%
    Palladium Price 695.20 0.15 0.02%
    S&P 500 2,124.20 1.35 0.06%
    Dow 18,144.07 24.29 0.13%
    Dow in GOLD $s 316.86 2.42 0.77%
    Dow in GOLD oz 15.33 0.12 0.77%
    Dow in SILVER oz 1,153.32 30.45 2.71%
    US Dollar Index 95.70 1.18 1.25%

    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

    The GOLD PRICE dropped only $7.50  (0.63%) $1,176.20 while SILVER dropped 40.5 cents (2.51%) to $15.732. That sent the GOLD/SILVER RATIO to a new high for the move, 74.765 — another argument for a bottom nearby.

    Silver Price

    Silver pierced and closed below its uptrend line. Normally that leads to a further fall. Silver has support about $15.50, but that’s not to say it cannot drop further in a quick spike that will scare us all to death. RSI is negative but other indicators are not. Look for yourself, chart on the left.

    Gold Price

    Here’s a gold price chart on the right:

    No surprise, the GOLD PRICE sliced through its 20 DMA today, so gravity and momentum are weighing heavily. If it doesn’t stop at that $1,175 area that stopped it before, it is doomed to drop to $1,162, the last low, or $1,140, the March low.

    The volatility is killing me. The Greek crisis gets blamed for it, but it arises out of markets that are nervous, greedy, scared, and confused. That’s why they dump the dollar for 118 points one day, and buy it for 118 the next, why stocks lose 200 in two days then take back 100. All the unknowns and the fearful suspicions are weighing markets down, especially the suspicion that the Fed just might be stupid or lying about the economy.

    I would say, Look for a sudden, sharp turnaround as a buy signal, but we’ve had too many of those that have fizzled lately.

    Exampling how volatile and spooky markets are — thanks to stabilizing central banks — the US dollar index today rose 118 basis points (1.25%) to 95.70. On what news? What changed? Somebody discovered how to make electricity for free in the US? Nope, one Fed Reserve governor named Jerome Powell made a speech claiming the US economy “could” be ready for a rate hike in September, followed by a second in December and the US economy is set to strengthen in the year’s second half.

    What I don’t grasp: the Fed has NEVER yet, not once, correctly forecast the US economy. Why would anybody believe any of their shills today? Beats me.

    Dollar began rising last night, and opened today (24 hour day) about 94.80. Then it steadily rose until 9:30 eastern, then flattened the rest of the day. Silver and gold prices pretty much painted the reverse of that.

    In spite of rumors the Greek crisis is solved, stocks could hardly put one foot in front of the other today. Dow managed to climb 24.29 (0.13%) to 18,144.07. S&P500 added 1.35 (0.06%) to 2,124.20. Volume is not falling but also not growing. Can still inch higher.

    Dow in Gold

    Look at the chart on the right, the Dow in Gold, Today the DiG punched through the upper gator jaw, closing at 15.41 troy oz versus the March high at 15.58. I’ve been warning y’all this might happen. When I saw it, first thought that struck my mind was, “That’s it. We’re seeing the bottom in gold forming now.” Oh, maybe not today, probably not today, but it’s close. Stocks are making their last push up and the gold price its last dip, sending that Dow in Gold up. Remember, too, that we are now in the seasonal low window for silver and gold prices.

    Here’s the Dow in Silver on the left, It is reaching for its upper gator jaw, but not quite there at 1,152.96 troy ounces. Same vision applies here. A price bottom is coming for silver, whether now or two weeks, it’s coming.

    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.

  • Silver and Gold Prices have Persistently Trended Up Since June

      0 comments
    22-Jun-15 Price Change % Change
    Gold Price, $/oz 1,183.70 -17.80 -1.48%
    Silver Price, $/oz 16.14 0.03 0.20%
    Gold/Silver Ratio 73.353 -1.256 -1.68%
    Silver/Gold Ratio 0.0136 0.0002 1.71%
    Platinum Price 1,060.30 -26.20 -2.41%
    Palladium Price 695.40 -11.95 -1.69%
    S&P 500 2,122.85 12.80 0.61%
    Dow 18,119.78 103.83 0.58%
    Dow in GOLD $s 316.44 6.47 2.09%
    Dow in GOLD oz 15.31 0.31 2.09%
    Dow in SILVER oz 1,122.87 4.15 0.37%
    US Dollar Index 94.56 0.29 0.31%

    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

    Talk about confusion! The GOLD PRICE lost $17.80 (1.5%) to $1,183.70 on Comex while SILVER GAINED 3.3 cents to $16.137. Durned if I can tease cause and effect out of that.

    The GOLD PRICE last Thursday hit its 2-standard deviation Bollinger Band, shouting a loud signal it was turning around. Today it plunged beneath its 20 and 50 DMAs plumb back to its little June uptrend line. Okay, so it went up and nearly touched its 200 DMA, then reeled back at the thought of that impudence. Standard for any market, but it’s not broken. A close tomorrow below $1,180 would put it in danger of falling, but a close below $1,174 would ensure it.

    Since this June rise began — I can’t call it a rally, silver and gold prices have persistently trended up — silver has lagged the gold price. Thursday it hit its 50 DMA and fainted. Why today would silver best gold? I haven’t a clue. Might be a one day fluke, might be the Nice Government Men concentrating on the price of gold and overlooking silver. Regardless, silver’s MACD is within a gnat’s eyebrow of turning up, the ROC and Full Stochastic and RSI already have turned up — nothing nuclear, but up. Then in the late aftermarket silver is trading up at $16.22.

    I could scratch my head till I was bald and couldn’t tell y’all why this happened. I will, however, offer the opinion that it speaks good things to come for silver and gold prices.

    Yes, I am a pre-electronic relic, and I still cling to the belief that wisdom lives in simple proverbs, such as “Watch what they do, not what they say.” Cutting through all the persiflage, camouflage, and hogwash, people will ACT on what they TRULY believe, never mind what they say. They talk to confuse and distract you from what they are doing. In the case of the Fed, most people miss their shell game because most people speak to convey information. The Fed speaks only to convey DISinformation.

    But watch what they do, not what they say. Mama Janet SEZ the economy is improving and things are getting better, but just like the Wizard of Oz — which itself was an allegory about the gold standard controversy — “Pay no attention to the man behind the curtain!” They don’t want you to see that the great wizardess and wizards are in fact wizened, feckless academic charlatans pushing smoke bellows, pulling thunder-ropes, and throwing lightning switches, all to convince you that nothing truly is something. If the economy were as strong as they claim, why wouldn’t they turn interest rates loose? The question answers itself. Watch what they do.

    Could a commonwealth could sink lower than to be ruled by such ridiculous, despicable people and institutions?

    Meanwhile, back on the Euro-stage all the actors played out their parts: Greece the recalcitrant but sincere debtor, Germany the dour, righteous, and solvent householder, the IMF clueless bureaucrats, the ECB clueless central banking bureaucrats, and the rest of the players simply clueless. Not even folks whose taste riseth no higher than soap operas could buy this stuff.

    As the excuse for the gold price fall and silver’s rise, the tame financial media adjusted its pretty dog-collar and opined the cause was a brightening outlook for a Greek solution. Let me say with the least scatological vulgarity possible, Hogwash! I don’t believe it. How will a solution in Greece help American stocks? Most American investors couldn’t find Greece on a map if it were the only colored country, and a greater proportion care not a dried Kalamata olive for its financial outlook. Tell that one to any hicks who might believe it.

    The chronically suspicious, like me, long taught to be suspicious, might look for the Invisible Hand of Government behind this price action, Nice Government Men from the European and US central banks whacking the gold price’s head lest it runaway and spook a financial panic. Let us pretend, citizens, that all’s well in the world.

    On the other hand, a radio story about Greeks withdrawing all the cash out of their accounts on Fridays and re-depositing it on Mondays shows the Greeks’ real genius at identifying Hogwash. They know governments always throw surprise parties, like grabbing your bank deposits, over the weekend, so the Greeks choose not to play.

    Maybe some of y’all ‘Murricuns ought to follow suit, get two or three months’ green paper money cash needs in a safe in your house, take delivery of all your gold and silver, and generally take yourselves OUT of the grip of the financial system. Most ‘Murricuns, unhappily, believe whatever lie their gummint is peddling today.

    But what do I know? I’m jes’ a nat’ral born durned fool from Tennessee, too blamed stupid to distinguishate betwixt a lie and Adam’s off ox. I ain’t near as clever as them gummint men.

    STOCKS today rose, making back about what they lost on Friday, much like your mudbound car spinning its wheels and throwing mud up on your suit and shiny shoes.

    Dow rose 103.83 (0.58%) to 18,119.78 after falling 99.89 on Friday. S&P500 added 12.8 (0.61%) to 2,122.85. Even my jaundiced eye can see that both stand above their 20 and 50 day moving averages, staging a little rally that may even post new all-time high which will be a meaningless as fins on a 1957 Dodge (can’t swim and don’t float). Still, they are rising, and the myth goeth forth.

    To set that against the proper backdrop, the Dow in gold rose again today to touch its upper gator jaw at G$316.28 (15.3 oz), the last in a series of impotent jigs and jags that stretch back to March, illustrating only stocks powerlessness to make value headway against metals.

    Dow in Silver flatlined today, closing S$1,451.34 silver dollars (1,122.52 oz). Like the Dow in gold, the DiS is rolling over slowly.

    US dollar index added 29 basis points (0.31%) and closed 94.56. Lo, life is replete with ambiguities! You ask your wife how she likes your haircut and she says, “Fine,” but you don’t know whether that means “fine” or “Why have you been hanging out with the Sioux, haven’t you heard of Custer?” So ’tis with the US dollar index. Last week it plunged to a new intraday low for the move at 93.30, but now is trying to crack the essential support line above about 94.50. Presently the trend is down, but a close above 95.10 would change that.

    But wait? Why would the US dollar draw a safe-haven bid (from the Greek debacle) when gold, the ultimate hedge, supposedly lost its safe-haven bid? Investors also dumped US treasuries, as yields rose. It’s enough confusion for a corkball game for 4 year olds.

    Euro lost 0.25% to $1.1336 and yen lost 0,55% to 81.06. Below 82.30 the yen has no future, and below $1.1500 the euro convinces no one.

    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.