• The Price of Gold Lost $9.40 Today Closing at $1,184.70

    3-Jun-15 Price Change % Change
    Gold Price, $/oz 1,184.70 -9.40 -0.79%
    Silver Price, $/oz 16.46 -0.32 -1.90%
    Gold/Silver Ratio 71.957 0.808 1.14%
    Silver/Gold Ratio 0.0139 -0.0002 -1.12%
    Platinum Price 1,103.60 -7.30 -0.66%
    Palladium Price 757.80 -4.10 -0.54%
    S&P 500 2,114.07 4.47 0.21%
    Dow 18,076.27 64.33 0.36%
    Dow in GOLD $s 315.41 3.60 1.15%
    Dow in GOLD oz 15.26 0.17 1.15%
    Dow in SILVER oz 1,097.93 24.70 2.30%
    US Dollar Index 95.36 -0.51 -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

    Technically, the PRICE OF SILVER dipped into the even-sided triangle we’ve been watching, but the PRICE OF GOLD did not, although it reached its lowest level in three weeks.

    The back and forth is wearing me out. They sink, but buyers won’t let them sink to the bottom. They rise, but sellers cap the rise. Either it is finely balanced and monstrous strength, or it is a world of indifference.

    I am most interested in what the SILVER PRICE will do tomorrow. If it holds and turns up, then maybe today was the low of it. If not, we will be doomed to grind out a weary June guessing each day if we’ve seen the low.

    I’m still bothered by silver and GOLD PRICES weakness coupled with dollar weakens. That ain’t right. Of course, the Nice Government Men might be making sure the market doesn’t panic in the face of a tumbling dollar and fumbling Greece.

    One of the great things about living in the country is that God in his providence continually teaches you that life is more fragile than you assume, so don’t take it for granted. Today, our tenuous link to the outer world through the Wi-Fi internet is down. Hence I must commentate off my cell phone, which I love like a nest of chiggers, then hunt a place to transmit.

    Stocks rose today, the Dow up 64.33 (036%) to 18,076.27 and the S&P500 up 4.47 (0.21%) to 2,114.07. This is all meaningless noise in a market whose overall trend is rolling over to the Mariannas Trench. High is behind us.

    Most eye-catching today was the US dollar index. Merciful heavens! After it got hit by a car yesterday, it stood up and fell into an open manhole today, down 51 basis points (0.54%) to 95.36. Yes, that is a close below the 20 DMA (and long ago the 50 DMA) and argues loud and harsh that the April high at 100.27 was THE high for the rally that began a year ago July. Case you aren’t paying attention, this is GOOD news for silver and gold prices.

    But if it’s such good news, why did they fall today? Media reports gold fell on “Greece hopes and stock gains.” For the rational and fastidious mind, that explains nothing. On hopes of resolving the Greek sovereign debt crisis, maybe, but on a stock market up 0.36%, not a chance, Louise.

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

    – Franklin Sanders, The Moneychanger

    © 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.

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