• The Gold Price Lost $9.80 on Comex to Close at $1,174.90

    4-Jun-15 Price Change % Change
    Gold Price, $/oz 1,174.90 -9.80 -0.83%
    Silver Price, $/oz 16.09 -0.38 -2.28%
    Gold/Silver Ratio 73.025 1.068 1.48%
    Silver/Gold Ratio 0.0137 -0.0002 -1.46%
    Platinum Price 1,098.70 -4.90 -0.44%
    Palladium Price 755.10 -2.70 -0.36%
    S&P 500 2,095.84 -18.23 -0.86%
    Dow 17,905.58 -170.69 -0.94%
    Dow in GOLD $s 315.04 -0.37 -0.12%
    Dow in GOLD oz 15.24 -0.02 -0.12%
    Dow in SILVER oz 1,112.91 14.98 1.36%
    US Dollar Index 95.53 0.02 0.02%

    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 lost $9.80 on Comex to close at $1,174.90 and SILVER lost 37.5 cents to end at $16.089.

    The GOLD PRICE loss began about 10:45 when it fell through $1,180, but the fall was slow and sloping to a low at $1,172.95, then it rounded back up above $1,175. Not a panic day. Stopped near my $1,170 target, so scared as you might be (Hey! Stop puking in my wastebasket), this is a place to buy.

    The silver price followed same pattern as the gold price, but went a bit further. While gold intraday touched the upper triangle boundary line, silver, always more volatile, dropped through the point of its triangle to a little below the lower boundary. Because the silver price is so much more volatile than the gold price and often overshoots, I’m not willing to call that a breakdown, especially since gold held at the upper triangle line. I told y’all I bought silver two days ago, and I feel just fine.

    I would buy both silver and gold right now at these prices, all the way down to $15.75 for silver and down to $1,169 for the price of gold.

    Be advised that if I am wrong, both will likely see sharp drops, but I doubt to new lows. All gain comes with risk, and the bigger the risk, the bigger the possible gain.

    Tonight is one of my grandsons birthday party, and if I am late my wife will skin me and tack my hide to the barn as a warning to others, so I have to keep this short. She’s skinny, but she’s strong.

    Stocks found the open manhole and stepped in. Dow was down today 199.32, but closed down “only” 170.69 (0.94%) at 17,905.58. S&P500 fell down the same hole, down 18.23 (0..86%) to 2,095.84. Portentous. Inauspicious. Lo, and behold! Both fell below their 50 day moving averages today. Bad juju. Drums beating in jungle – bad.

    I’m going to give y’all four charts to go look at, so you can tell me what they say: US 10 year T-note yield, US 30 year bond yield, German 10 year treasury yield, and the UK 10 year treasury (“gilt”) yield. Every one made a low at end January and is now trading above its 200 DMA.

    I remind y’all that the yield of a bond is the interest rate, and trades inversely to the bond price. Yields rise, bonds fall. Hence in a world in the grip of the most colossal, most stupendous, most gargantuan bond bubble ever seen in history engineered by central banks, YIELDS ARE RISING. This threatens the central bank criminals’ strategy and control. This is not a joke.

    Look at them here:

    US 10 Year Yield

    US 30 Year Yield
    German 10 Year Yield
    UK 10 Year Yield

    This is the sort of thing that can leave folks lining up to jump out of 20 story windows. Bonds are underwater for the year.

    US dollar index rose two basis points today and ended at 95.53, but traded much lower.

    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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