• Silver and Gold Prices Remain in Uptrends from the Summer Lows

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    23-Oct-15 30-Oct-15 Change % Change
    Gold Price, $/oz. 1,163.30 1,141.50 -21.80 -1.9
    Silver Price, $/oz. 15.818 15.566 0.252 -1.6
    Gold/Silver Ratio 73.543 73.333 -0.210 -0.3
    Silver/gold ratio 0.0136 0.0136 0.0000 0.3
    Dow in Gold $ (DIG$) 313.58 319.88 6.29 2.0
    Dow in gold ounces 15.17 15.47 0.30 2.0
    Dow in Silver ounces 1,115.61 1,134.75 19.14 1.7
    Dow Industrials 17,646.70 17,663.54 16.84 0.1
    S&P500 2,075.15 2,079.36 4.21 0.2
    US dollar index 97.24 97.02 -0.22 -0.2
    Platinum Price 1,000.00 988.60 -11.40 -1.1
    Palladium Price 693.35 677.05 -16.30 -2.4

    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

    Let us earnestly and soberly ponder the week’s results. Stocks, for all the stalinesque propaganda, rose only 0.1%, well, 0.2% for the S&P500. US dollar index fell back today to close the week down 0.2%. For all the FOMC fomc-in’ and stocks a-burblin’ and dollar just a-thumpin’, the GOLD PRICE lost only 1.6% and silver only 1.9%. What about the white metals? Platinum lost 1.1% and palladium 2.4%. But all is not what it seems. In fact, nothing is. All is seeming. It’s like Ronald Reagan is directing markets.

    On Comex today, where they take no prisoners and show no mercy, the GOLD PRICE fell $5.70 to $1,141.50 and silver gained 2.2 cents to $15.566.

    Gold Price

    Note, mark, and inwardly digest that during October the gold price rose from $1,114.20 to $1,141.50, a $27.30 or 2.5% gain. In the same 30 days silver flew from $14.506 to $15.566, higher by $1.06 or 7.3%.

    The gold price traded down to its 50 DMA and stopped there today, having closed beneath its 20 DMA on Wednesday. A 62.8% correction of the foregoing move takes it to $1,137.10. Today’s low came at $1,138.40.

    Silver Price

    Downtrend line from the January high crosses the uptrend line from the July low about $1,122.50. Next week. However, the price of gold hasn’t yet signaled a turnaround.

    The SILVER PRICE has hit the old support at $15.50-$15.60 and stopped. Silver is holding up better than gold, which makes me nervous because silver’s Commitments of Traders look more negative than gold’s. Will silver even the score with gold in one swoop?

    On the other hand, a 50% correction of the October advance would be $15.365. Down below at $15.00 is the uptrend line from the August low.

    For all the worrying, silver and gold prices remain in uptrends from the summer lows, and they had an excellent higher month. GOLD/SILVER RATIO remains where it ought to be if they are rallying, namely, below its 200 DMA in a downtrend.

    What if the Nice Government Men and criminal central bankers, in order to hold at bay the due penalty of their monetary crimes and economic sins, worked together to manipulate interest rates? “Aww, you Tennessee fool! Don’t you already know all them central bank knockers sit down to eat together once a month in Basel at the Bank for International Settlements? Whatta you think they talk about, the rubber chicken and cheap wine?”

    No, I understand that, what I mean is that last week, not to put too fine a point on it, was the most luxuriant and pyrotechnic display of central bank jawboning and smoke-blowing we’ve seen since Draghi’s famous we’ll do “whatever it takes.”

    The end of the month was drawing close, and all good bureaucrats keep one eye on the calendar, because they are graded month to month. How to get stock prices up, especially before the FOMC meeting? The Chinese obliged by dropping interest rates on Thursday, Friday Draghi rattled his throat making noises about more QE coming in December, maybe, perhaps. Then the FOMC said they would definitely/maybe/probably/possibly raise rates in December.

    I’d say it was a brilliant propaganda campaign, and succeeded in pushing up the Dow 7.9% and the S&P 8.1% on the month, and helped erase the memory of the searing pain and bleeding from the August plunge. No new bolts were turned, no screws tightened, no new houses or cities or refrigerators built, nothing was produced, no economic demand grew nor economic supply, yet it SEEMED as if it had, because stocks were suddenly more valuable.

    ‘Twas all seeming, without being. But it worked.

    And what if the US dollar index is being managed the same way. Draghi says to Yellen, “You let your currency rise this month, and we’ll let ours rise next month.” Dollar has traded in a roughly 5 point range, even with the August drop, since May. Nice round number, five.

    Now the details.

    Dow Jones
    S&P 500

    Stocks today fell. Let me eschew prolixity: the Dow and S&P500 have walked through their uptrend lines from March 2009, as well as spending the last twelvemonth forming an upside-down bowl top. They crashed through that bowl’s lip in August, rallied — thanks to the central banking miscreants — back to the bowl, and for the last two days have shrunk back like Vlad Dracula contemplating a crucifix at dawn.

    Dow Industrials lost 92.26 (0.52%) today to 17,663.54. S&P500 gave back 10.05 (0.48%) to 2,079.36. Get clear in your mind: If they can pierce the bottom of that upturned bowl the central bank magicians have engineered an extension to the stock boom. If not, stocks will move lower than a rich deacon stealing out of the collection plate.

    Dow in Gold
    Dow in Silver

    Dow in Gold and Dow in silver have suffered, thanks to the last week. Dow in gold reached the old top line (about 15.50 troy ounces) as it climbed through the 200 DMA, but today hooked down a tiny bit. Too early to say it has turned down.

    Dow in Silver rallied to a high of 1,140.02, but settled today at 1,137.02 oz. Also above the 200 DMA. Looks tired but hasn’t confirm that by lying down and going to sleep.

    US Dollar

    US dollar index flaked today. After hitting that 97.89 FOMC-induced high on Wednesday, it traded back to the breakout line, a normal enough move. But today it sliced clean through that line like it had stepped through a trap door. Ended at 97.02, down 35 basis points (0.35%). Looks sick. Why did it cut into the bottom boundary of that rising wedge? Nobody wanted to go home long dollars.

    The euro, the Frankencurrency, rose 0.26% to $1.1007, but who cares? Now below its 200 dma and couldn’t buy credibility if it had its own central bank to issue money. Wait, wait. It does.

    Yen is tanglefooted in its converging 20, 50, and 200 DMAs. Range-trading.

    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.

  • Gold Price October Gains Were Finally Erased Today Closing Down $29.90 at $1,147.20

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    29-Oct-15 Price Change % Change
    Gold Price, $/oz 1,147.20 -29.80 -2.53%
    Silver Price, $/oz 15.54 -0.74 -4.57%
    Gold/Silver Ratio 73.803 1.542 2.13%
    Silver/Gold Ratio 0.0135 -0.0003 -2.09%
    Platinum Price 991.80 -19.20 -1.90%
    Palladium Price 670.60 -15.00 -2.19%
    S&P 500 2,089.41 -0.94 -0.04%
    Dow 17,755.80 -23.72 -0.13%
    Dow in GOLD $s 319.95 7.68 2.46%
    Dow in GOLD oz 15.48 0.37 2.46%
    Dow in SILVER oz 1,142.29 50.72 4.65%
    US Dollar Index 97.35 -0.52 -0.53%

    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

    I’ve been flipping through these charts and I feel like I’ve been sortin’ wildcats without a shirt on. If I ever had anything good to say about the Federal Reserve or the FOMC, a cosmic unlikelihood, I am plumb used up on ’em now.

    Gold Price

    SILVER and GOLD PRICES closed strongly higher yesterday before the FOMC announcement. The gold price gained $8.20 to 1,177.10 and silver 43 cents to $16.288. That don’t near about tell the story, though. On the end of day chart you can see that gold ended at 1,155.70 and silver at $15.94. That move into new high ground with a lower close on the day is the first half of a key reversal. Second half came today with lower closes still. The GOLD PRICE lost 2.6% or $29.80 to $1,147.20. Silver fell 4.6% or 74.4 cents to $15.544.

    Today’s close finally finished erasing the gold price October gains by falling below $1,150 again. If it continues to fall the uptrend line from July is the most obvious target, about $1,120.

    Y’all know that when you have been thoroughly whipped, it’s hard to catch your breath and turn around and fight. So when a market has disappointed you, you tend to extend the move all the way out into the future forever, world without end. Well, hang on. the gold price low today marks a 50% retracement of the move that began on 1 October. Commitments of Traders reports for silver and gold prices are, it’s true, not optimistic. But stocks have now reached overbought on their RSI and the dollar index is only a gnat’s whisker from the same. Maybe those moves have reached their upper limit, while metals have reached their lower limit.

    Silver Price

    Back to silver. Silver did not quite post a key reversal, because it closed higher on Wednesday. Today of course it plunged back to that old $15.50-$15.60 level we know so well, support for 8 months until it was broken in July.

    SILVER needs to turn around here, or all that trading through October looks like a top. If it catches no traction here, it could fall to $15 again, where the uptrend from August now stands.

    Looking at these charts, as I said, leaves me feeling like I’ve been sortin’ wildcats. Unless silver and gold can immediately reverse upward AND exceed recently posted peaks, they will keep falling.

    The FOMC blew smoke again, and markets bought it. It’s either luck or a pact with the devil, I’ll let y’all figure out which, cause I don’t believe in luck. They sang the same We’re Gonna Raise Rates Someday tune again, and markets bought it. To those whose head is not addled by fumes from a mountain fruit jar, clearly those knotheads fear to raise rates the way a slow snake fears a sharp hoe. But never mind, the party’s on again, after only six weeks of bear market worry, and stocks are a-chargin’.

    Dow Jones
    S&P 500

    Yesterday stocks wavered, dropped below unchanged after the FOMC blathered, then reverse rocketed up 198.09 (1.13%) to 17,755.80. S&P500 did the same, adding 24.46 (1.18%) to 2,090.35. Today stocks backed off. Dow gave back 23.72 (0.13%) to 17,755.80 and S&P lost 0.94 (0.4%) to 2,089.41.

    Whether it makes fundamental economic sense or not, stocks have risen high enough to call into question the lethality and permanence of the August break. They have climbed back above the 200 day moving average and risen to challenge the upside-down bowl topping formation.

    If they break through that bowl, then the August break was only a correction and not the beginning of a trend change. The Fed will have managed to delay the rout, but not forever.

    US Dollar

    The alternative is to believe that they really are Masters of the Universe, they really can blow bubbles up and when they explode bail out their cronies without consequences to the economy, and that an economy can be limitlessly abused by credit creation and malinvestment without any chickens ever coming home to roost. Shucks, it’s a brave new world, ain’t it?

    Upon the FOMC’s announcement the US dollar index jumped 87 basis points (0.9%) to 97.86. Since the US dollar is gold’s chief competitor, that ain’t good for gold. With that jump the dollar pierced the downtrend line from the March high. Today it touched back to that line, but that’s normal.

    Assuming the dollar confirms this rise by closing above the last high at 98.43, y’all can expect the dollar to continue the rise it began in July 2014, targetting roughly 108.

    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 Closed $10.30 or 0.88 Percent Higher Today at $1,177.10

      0 comments
    28-Oct-15 Price Change % Change
    Gold Price, $/oz 1,177.10 10.30 0.88%
    Silver Price, $/oz 16.29 0.43 2.71%
    Gold/Silver Ratio 72.27 -1.31 -1.78%

    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.

  • Gold Price Lost 20 cents or 0.02 Percent Today Closing at $1,166.80

      0 comments
    27-Oct-15 Price Change % Change
    Gold Price, $/oz 1,166.80 -0.02 -0.02%
    Silver Price, $/oz 15.86 -0.04 -0.26%

    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.

  • Gold Price Rose $3.70 Closing at $1,167.00

      0 comments
    26-Oct-15 Price Change % Change
    Gold Price, $/oz 1,167.00 3.70 0.32%
    Silver Price, $/oz 15.90 0.08 0.52%

    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.