• Gold Price Sank $4.90 or 0.4 Percent Closing at $1,127.10

      0 comments
    29-Sep-15 Price Change % Change
    Gold Price, $/oz 1,127.10 -4.90 -0.43%
    Silver Price, $/oz 14.57 0.03 0.21%
    Gold/Silver Ratio 77.363 -0.502 -0.64%
    Silver/Gold Ratio 0.0129 0.0001 0.65%
    Platinum Price 917.10 -9.00 -0.97%
    Palladium Price 657.40 6.15 0.94%
    S&P 500 1,884.09 2.32 0.12%
    Dow 16,049.13 47.24 0.30%
    Dow in GOLD $s 294.35 2.14 0.73%
    Dow in GOLD oz 14.24 0.10 0.73%
    Dow in SILVER oz 1,101.59 0.90 0.08%
    US Dollar Index 96.04 -0.14 -0.15%

    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 are confused. The gold price sank $4.90 (0.4%) to $1,127.10 while silver rose 3.1 cents (0.2%) to $14.569. Confusion’s never positive.

    Gold/Silver Ratio

    Pondering the SILVER PRICE daily chart, I see that both Monday and today silver made lows at $14.50 — a double bottom? It did move up sluggishly off the low. Silver today touched the bottom boundary of that even-sided triangle, but did absolutely nothing to distinguish itself. MACD indicator is close to turning down. RSI stands below 50 at 45.84.

    Meanwhile the GOLD/SILVER RATIO gapped up yesterday, which bodes nothing much good for silver and gold prices rallying. Wouldn’t want that to move higher. Chart on the right.

    The PRICE OF GOLD sank to pierce its 20 Day Moving Average, but then closed above it. Neither silver nor gold prices are telling us a lot, but that may be telling us a lot, too. They’re lethargic, weak, and slow with very small daily ranges. No trading. Not good.

    I suspect most folks are waiting for the other shoe to drop with stocks, and so are afraid to jump one way or the other. I fear they will be longing for the tedium one day soon.

    Sturgeon’s Revelation says that 90% of everything is crap. I’m not sure 90% of the news is crap, but most of it is not worth bothering with, and some great percentage of the media and internet people who massage the news don’t repay listening to, but now and then something important turns up. Here are a couple of those pieces.

    Zero Hedge published an article yesterday, “UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal.” Read it here, http://bit.ly/1KQ4HR3

    Y’all have watched as giant banks have paid multi-zillion dollar settlements for rigging every kind of market, from interest rates to kumquats. Now — surprise, surprise, after Gold Anti-Trust Action Committee (GATA) has been exposing it for more than 15 years — German and Swiss regulators are closing in on gold market manipulation.

    What do all these settlements have in common? The same mega-banks are the perpetrators, they pay piddlin’ fines compared to the prodigious pockets they’ve picked, and no perp ever goes to prison. Whoops, they also show that most markets in the world today are manipulated, either by the market makers or by governments.

    Wait, wait, I’ve got to grab my wastebasket and puke. All this pus oozes out of the same people who plump for “free markets” and pose as Captains of Capitalism when they’re simply Captains of Cronyism who know their government buddies will never indict them. There’s a proverb in Ecclesiastes, “Because sentence against an evil work is not executed speedily, therefore the heart of the sons of men is fully set in them to do evil.” Slow or speedy, a surprise awaits them.

    Glencore Chart

    Another article appeared on Zero Hedge yesterday, “Glencore Implodes,” at http://bit.ly/1h8DyRx Glencore is an Anglo-Swiss corporation, tenth largest in the world, that trades and supplies commodities: 60% of the zinc market, 50% of copper, 9% of grains, and 3% of the oil market. It grew out of Marc Rich and Company in the 1990s — y’all remember, the same Marc Rich indicted for tax evasion and illegal oil deals with Iran during the Iran Hostage Crisis. Yep, the same one Prexy Bill Clinton, moved only by his native compassion I’m sure, pardoned just as he was leaving office. Right, he pardoned Rich even before he stood trial. Neat deal, huh?

    Rich’s key to success was leverage, financing his purchases with bank credit. It appears his successors followed in his footsteps, raking in larger and larger market share, and piling debt higher and higher. The stock has collapsed from $227 in July to 77 today.

    I mention Glencore because this is the kind of bankruptcy that can suck down the whole world into the maelstrom of “systemic collapse.” Not saying it will, only that the scale, like Lehman Brothers, is sufficient.

    With those cheery thoughts behind us, let’s look at today’s markets.

    Stocks today went through six — count ’em, six — reversals. And after all that sound and fury, it signified only a Dow 47.24 (0.3%) higher at 16,049.13. S&P500 wasn’t that peppy, either, up 2.32 (0.12%) to 1,884.09. Stocks are on the edge of a wet and slippery cliff, and they ain’t Indiana Jones and have no whip handy. More blood and tears will flow, much more.

    So stocks are falling, and the dollar is falling, too. Lost 0.14 (0.15%) today to end at 96.04. I see by the yield on 10 year Treasury notes (down yesterday and again today), that bond prices are rising, which makes sense for money fleeing stocks. But what does puzzle me is the dollar continuing to erode. Money running into dollars usually means “running into treasury securities,” but the dollar is limp as freshly boiled vermicelli. Euro rose a nothing 0.04% to $1.1252 and the yen rose 0.11% to 83.51, but neither one of those charts shows money pouring into them. Finally, gold isn’t rising, either, so where is that fleeing money going? Or maybe the panic hasn’t quite begun yet.

    On 29 September 2008 following bankruptcies of Lehman Brothers and Washington Mutual, the Dow fell 777.68 point, largest single day point loss in history. Y’all remember that number.

    On 29 September 1979 gold hit a record $400.20 an ounce in Hong Kong.

    On 29 September 1916 John D. Rockefeller became the first billionaire. The second billion came a lot easier.

    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.

  • Price of Gold Fell $14.00 or 1.22 Percent Ending the Day at $1,132.00

      0 comments
    28-Sep-15 Price Change % Change
    Gold Price, $/oz 1,132.00 -14.00 -1.22%
    Silver Price, $/oz 14.54 -0.57 -3.76%
    Gold/Silver Ratio 77.865 2.001 2.64%
    Silver/Gold Ratio 0.0128 -0.0003 -2.57%
    Platinum Price 926.10 -25.10 -2.64%
    Palladium Price 651.25 -16.30 -2.44%
    S&P 500 1,881.77 -49.57 -2.57%
    Dow 16,001.89 -312.78 -1.92%
    Dow in GOLD $s 292.22 -2.07 -0.70%
    Dow in GOLD oz 14.14 -0.10 -0.70%
    Dow in SILVER oz 1,100.69 20.68 1.91%
    US Dollar Index 96.20 -0.23 -0.24%

    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 PRICE were walking down the street doing fine, arm in arm, about 3:00 a.m. New York time when somebody dropped a piano on their heads. Between then and 10:00, the gold price fell as low at 1,127.30 and silver to $14.60. Silver later reached $14.47.

    Gold Price

    On Comex the PRICE OF GOLD dropped $14 or 1.2% and closed $1,132.00. Silver lost a mouth-lolling 56.8 cents (3.8%) to $14.538. What happened? (I will forbear spinning an answer out of “conspiracy to suppress,” but that notion sure does pop quickly to mind.)

    The dollar index was actually falling at 3:00 a.m., but after 6:00 began rising to its high for the day about 9:00 a.m. After that it fell as straight as silver and gold prices, dropping to an 11:30 low at 95.90. Oddly enough, that big dollar drop doesn’t really damage the chart. It stopped above the 20 DMA, and it was, after all, at the downtrend line from the January high. Uptrend, however remains intact.

    Silver Price

    The SILVER PRICE doesn’t look as nice. Today’s big fall sliced through the 50 and 20 DMAs ($14.91 and $14.75), but stopped within the $14.25 – $14.95 range that has trapped silver since July. Believe it or not, silver has put in a series of higher highs and higher lows since the August low, and that still defines an uptrend. Today silver hit that uptrend line. Trouble for silver comes with a break below $14.25. Otherwise, it’s okay.

    Now step back from those charts and look. Both metals are coiling up in even-sided triangles, coiling for a breakout. Trouble is, and even-sided triangle doesn’t tell us which way they will break out, only that they will.

    You have to wonder what sort of lunacy the Federal Reserve is pursuing. They’re firing the blarney cannon till it’s glowing red hot. Yellen spoke last Thursday dribbling about raising interest rates later in the year, trying to re-capture the Fed’s lost credibility, I reckon. Today New York Fed Chairman Wm Dudley spoke in the morning, Chicago Chairman Charles Evans this afternoon, and this evening John Williams of the San Francisco Fed will speak. Nine more are scheduled for this week, including Yellen again. It’s a blarney blitzkrieg.

    I’m having trouble graspin’ what they are doing. At first I thought they might be trying to talk the dollar up, but if so it didn’t work today. Are they determined to tank stocks? Two out of three who spoke today leaned toward raising rates. Are they trying to talk the rate rise graveyard dead, so everybody will get so plumb dog-tired of hearing them natter and drool about it they’ll accept anything, just don’t torture us anymore driveling about interest rates!

    Well, I’m just a nat’ral born durn fool from Tennessee, and can’t imagine what them biggety central bankers might be thinking. But you know, you can sometimes overthink your enemy. I mean, you can puzzle and puzzle about what your enemy is plotting, and in the end he ain’t plotting a durned thing: he’s jes’ stupid as a ball-peen hammer. Course, it’s always unwise and perilous to assume your enemy’s stupid until you have eliminated all other possibilities. In the Fed’s case, that might be easy, though.

    Dow Jones

    Today’s markets:

    S&P500

    US dollar index, as I suspected, fell back through its 50 day moving average. Lost 23 basis points (0.24%) today to 96.20. This beating doesn’t satisfy me atall. I want to see it below 96 and the 20 DMA (now 95.81) again. Then if it sinks like a double-bitted axe in a cow pond, I won’t care a bit. Dollar index is presently pointed up, but tenuously and indifferently.

    Mercy, ain’t y’all glad you didn’t own stocks today! Dow fell 312.78 (1.92%) to 16,001.89, and it ’bout ruptured disks in the Nice Government Men’s backs to get it to close that 1.89 above 16,000. What WILL they do tomorrow?

    S&P500 fared worse than the Dow, vomiting up 49.57 (2.57%) to 1,881.77. It looks far sicker than the Dow. Below 1,867 panic take over.

    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.

  • Time To Buy Silver and Gold, The Long Winter of Correction Has Passed

      0 comments
    18-Sep-15 25-Sep-15 Change % Change
    Gold Price, $/oz. 1,138.10 1,146.00 7.90 0.7
    Silver Price, $/oz. 15.154 15.106 0.048 -0.3
    Gold/Silver Ratio 75.102 75.864 0.762 1.0
    Silver/gold ratio 0.0133 0.0132 -0.0001 -1.0
    Dow in Gold $ (DIG$) 297.60 294.29 -3.31 -1.1
    Dow in gold ounces 14.40 14.24 -0.16 -1.1
    Dow in Silver ounces 1,081.20 1,080.01 -1.19 -0.1
    Dow Industrials 16,384.58 16,314.67 -69.91 -0.4
    S&P500 1,958.03 1,931.34 -26.69 -1.4
    US dollar index 95.00 96.43 1.43 1.5
    Platinum Price 984.50 951.20 -33.30 -3.4
    Palladium Price 610.35 667.55 57.20 9.4

    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

    Today GOLD PRICE backed off $7.80 (0.6%) to $1,146.00 while SILVER through tight-clasped fingers gave up on 1.9 cents, closing at $15.106.

    Gold Price

    Ain’t no cloudy sky here at the Moneychanger’s. This is normal market action. Both silver and GOLD PRICES have rallied off July lows. Rallies, remember, go up and down, zig and zag, two steps up, one step back. Yesterday the gold price hit that downtrend line from the January high, and today backed off a smidge. Recall yesterday, when it rose $22.20, and be content. Recall the market proverb: bulls get rich, and bears get rich, but pigs get slaughtered.

    Silver Price

    Yesterday SILVER ran into the downtrend line from the April 2013 high. Again, at major resistance markets often have to take two or three runs at it to break through. Look, it’s in an uptrend — higher highs and higher lows — from the July bottom. It’s the early stages of a rally. Wait till the jet fuel kicks in.

    Time to buy silver and gold. The long winter of correction has passed.

    In the global scheme of gold and silver markets, we in the retail market are mere pissants. Yet last week one pissant retail dealer I know bought a big ($5 bn/yr +) dealer out of 100 oz bars (he refused to sell any more) AND thousand ounce bars. Deliveries of 100 oz bars and one ounce rounds have stretched out to 4 – 6 weeks, nobody knows when the US mint will deliver silver American Eagles, and the Canadian mint has fallen behind on delivering silver Maple Leaves. Those who have a few silver American Eagles are selling them north of $5/oz over spot, and US 90% silver coin, one of the very few actually in hand and shippable silver, costs $4.65/oz over spot at wholesale. Almost everything else carries a wait of 4 – 6 weeks.

    Even given the American silver retail products industry’s tinyness as opposed to the world market, doesn’t it seem awfully curious that this little pissant corner of the market could run slap out of silver? I don’t fancy those internet gurus who can leap to tall (unjustified) conclusions at a single bound, but this retail market silver shortage leaves me wondering just how much silver really exists in the world — silver that can be brought to market immediately.

    If our little footnote market indicates anything, it’s that far less ready-for-market silver exists than people suspect. I’ve always called silver the Rodney Dangerfield of precious metals because it don’t get no respect, but one of these days silver will avenge that contempt with soaring prices. Hide’n watch.

    Demonstrating that the American public may in fact be as stupid as Our Masters believe, stocks rose today after Comrade Janet Yellen’s drooling about higher interest rates to come later this year. In a pig’s eye. Anyway, emboldened by Janet’s silly blarney, stock buyers eager for punishment crowded in and ran the Dow up 264 points, but, whoops, after 2:00 the rats started leaping out of the ship and it closed up only 113.35 (0.7%) at 16,314.67. S&P500 fared not so well, ending down 0.9 (0.05%) at 1931.34.

    Is this bad? Let me count the ways. First, stocks made the gains, but were too weak to hold on to them — too many sellers waiting for just one more tick up. More, the S&P500 and the Dow gainsayed each other, not ever a rosy outcome for indices that kiss and hold hands. Finally, both indices ended the week lower, never a token of good times to come.

    Speaking of sellers, y’all ought to take advantage of ANY stock rally to sell stocks. More weeping, wailing, and gnashing coming.

    US DOLLAR INDEX followed stocks up, climbed over its 50 DMA, shot up to a 96.88 high, then fell back to close almost dead on the 50 DMA (96.42). Buyers and sellers evenly matched. Dollar will eventually resolve, downward. Ultimate target is a dollar index below 50.

    The UN has published its Global Goals which promise to end extreme poverty, fight inequality and injustice, fix climate change, and cure athlete’s foot and halitosis. Where do they get this stuff? Listen, folks, all these moonbeams will vanish quicker’n you can say “Morons in charge” when the economy gets tough, and toughen it will. Truth is, if you can’t survive digging grubs out of flower pots, you may not make it. Y’all hear that, millennials? Ain’t no Starbucks in flower pots. I ain’t worried. I got me a tin bill and I can peck in the dirt with the chickens.

    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 Shot up $22.20 or 1.98 Percent to $1,153.80

      0 comments
    24-Sep-15 Price Change % Change
    Gold Price, $/oz 1,153.80 22.20 1.96%
    Silver Price, $/oz 15.13 0.35 2.33%
    Gold/Silver Ratio 76.284 -0.279 -0.36%
    Silver/Gold Ratio 0.0131 0.0000 0.37%
    Platinum Price 955.90 22.30 2.39%
    Palladium Price 655.90 10.90 1.69%
    S&P 500 1,932.24 -6.52 -0.34%
    Dow 16,201.32 -78.57 -0.48%
    Dow in GOLD $s 290.27 -7.13 -2.40%
    Dow in GOLD oz 14.04 -0.34 -2.40%
    Dow in SILVER oz 1,071.16 -30.32 -2.75%
    US Dollar Index 96.15 -0.06 -0.06%

    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 Comex GOLD PRICE shot up $22.20 or 2% to $1,153.80. Lo, I will have more to say about THAT in a moment. SILVER leapt 34.5 cents to $15.125, over $15.00 at last. I told y’all I wasn’t worried about either one of ’em the other day, when they fell so low, bless their little hearts.

    Gold Price

    Go look at the chart on the right and pay no attention to anything but one: the GOLD PRICE poking its head over that red downtrend line from last January, then also closing out there. And closing above that internal support-resistance line. All indicators point up, but gold must still conquer $1,170. It needs to rise further and longer.

    Silver Price

    Now look at silver’s chart on the left. Just look at that one thing: silver closed above the downtrend line from the April 2013 high. And another thing, above the $14.95-ish top of its July – August range. Okay, $15.00 was the first hurdle, but now that August high at $15.72 become the next. This is all the more encouraging because the 200 day moving average floats less than a dollar above silver. It can easily leap that in two or three days.

    Today Mario “Would-You-Buy-A-Used-Car-From-This-Man” Draghi, head criminal at the European Central Bank, stated that the ECB need more time before deciding on additional stimulus measures, i.e., more quantitative easing. I reckon that put downward pressure on the buck (“We’re going to depreciate the euro more slowly”), and gold took a big $20 jump. US Dollar index sank to a 95.57 low, but later recovered much of that. Stocks behaved like the dollar, with a big fall and later lame recovery.

    Yeah, Buddy! Ain’t nothing like central banks to stabilize markets.

    As if one criminal flapping his lips weren’t enough, Comrade Janet Yellen, head criminal at the US Federal Reserve, tried to resuscitate the Fed’s dying credibility by speechifying that the Fed might raise rates later in the year. I reckon this is how mountainous Our Masters’ contempt for us really is. They make empty boasts and claims, are exposed as fools and cowards by their acts, then slink back onstage as if nothing had happened to see if we will buy the same lie twice. What this country needs is to revive the salutary custom of Tarring and Feathering and Riding Out of Town on a Rail. Make that hot tar, and buzzard feathers –nasty buzzard feathers.

    Dow traded as low as 16,016, down 263, but climbed from about 1:30 to recover about 190 points of that and end the day down “only” 78.57 (0.48%) at 16,201.32. S&P lost 6.52 (0.48%) to end at 1,923.24. That recovery may be hinting at a higher day tomorrow. Maybe. Yet the trend is firmly down and the main chance is lower stocks tomorrow..

    Dow in Gold

    Dow in Gold, Old Reliable, sank 2.54% today to 14.05. I want y’all to look at the chart, so you can see how far below its 200 and even 20 day moving averages it stands. AND the Moving Average Convergence Divergence (MACD) indicator has turned down again. DiG long ago (August) fell through the uptrend line from August 2013, and now is zeroing in on the uptrend line from the 2011 low. Another big fall is coming that should pull it below the 13.74 August low.

    Dow in Silver

    Dow in silver chart, shows much the same picture, but is not quite as far along as the Dow in Gold. DiS stands below all its moving averages, including the 200. Dropped 2.85% today to close at 1,074.52. That’s near the 1,068.65 August low.

    Looks like Draghi’s remarks sent the Nice Government Men scrambling to salvage the US dollar index, which tanked 70 basis points but closed only 6 basis points below yesterday. Smells like the fish market down on Decatur in New Orleans. Might even rally tomorrow.

    Euro rose a nothing 0.1% to $1.1195. Y’all better take that European vacation while there are still some Europeans left. They’re gonna be rarer than spotted owls and snail darters pretty soon. May qualify for the Endangered Species List.

    Yen rose 0.02 to 83.18. Chart has developed an even-sided triangle that is fixin’ to break out one way or t’other, and since it stands above the 20 DMA, my guess is upwards. Nice Government Men in Nippon will discountenance this.

    Gotta run — Susan’s waiting supper on me.

    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 Climbed $6.60 Today Closing at $1,131.60

      0 comments
    23-Sep-15 Price Change % Change
    Gold Price, $/oz 1,131.60 6.60 0.59%
    Silver Price, $/oz 14.78 0.03 0.20%
    Gold/Silver Ratio 76.563 0.292 0.38%
    Silver/Gold Ratio 0.0131 -0.0000 -0.38%
    Platinum Price 932.50 -5.10 -0.54%
    Palladium Price 645.00 34.15 5.59%
    S&P 500 1,938.76 -3.98 -0.20%
    Dow 16,279.89 -50.58 -0.31%
    Dow in GOLD $s 297.40 -2.67 -0.89%
    Dow in GOLD oz 14.39 -0.13 -0.89%
    Dow in SILVER oz 1,101.48 -5.67 -0.51%
    US Dollar Index 96.45 0.41 0.43%

    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 climbed and scratched up $6.60 (0.6%) to end Comex at $1,131.60. SILVER found three big pennies somewhere and closed at $14.78.

    Y’all listen: The GOLD PRICE fell back to its 20 day moving average yesterday, and today bounced off that 20 DMA. This is normal market zig-zagging, and the zag is upward. Other way-pointers are positive, pointing toward higher prices.

    Silver likewise corrected back to its 20 DMA, then today reversed. Silver must break through $15.00 and leave this shilly-shallying behind.

    I did some trades for folks today and yesterday where they traded bags of US 90% silver coin (715 ounces) for silver bars and wound up with 20% more silver. Yes, they got 143 more ounces of silver (to 858 oz) merely for shipping the coin. Now the premium on the wholesale buy side of 90% has dropped about 20 cents, but since they’re still paying $4.25 over spot for it, those swaps will still net nearly 20% gain in ounces.

    I did some gold for silver swaps, too, and I think ended up with 73 ounces of silver for every ounce of gold. Not bad when you are targeting a swap back when it takes only 30 ounces of silver to buy one ounce of gold.

    Listen, y’all, that sorry US dollar index hit the 50 Day moving average (96.47) today and crumpled like used tinfoil. Closed down 24 basis points (0.25%) at 96.21, bottom of the day’s range. Also posted first half of a key reversal with a break into new high territory and a lower close.

    This is not money in the bank certainty — wait, wait, what am I saying? What could be more UNcertain today than “money in the bank”? Check that, start over. It’s not a sure thing that the dollar has turned down and will move below 92, but two failures at the same level is like going to two proms without taking a girl. ‘Tain’t success, and there is a downtrend in force.

    Dow Jones

    Mercy, what kind of lies we tell ourselves to avoid facing the truth! Right here on the Dow chart, you can see about all you need to know about stocks’ direction. They broke out of a pennant (or maybe a rising wedge), and are now trading below their 20 day moving average, which is below the 50 DMA, which is below the 200 DMA, a bearish alignment. Same picture in the S&P500, yet those who cannot face the truth that stocks have broken refuse to see it.

    Give your eyelids no rest until you sell your stocks.

    Dow today lost 50.58 (0.31%) to 16,279.89; S&P500 dropped 3.98 (0.2%) to 1,938.76.

    Dow in gold and Dow in Silver are both below their 200 day moving averages: pointing down, down, 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.