• Gold Price Lost 20 Cents to $1,096.30 on Comex

    28-Jul-15 Price Change % Change
    Gold Price, $/oz 1,096.30 -0.20 -0.02%
    Silver Price, $/oz 14.63 -0.04 -0.25%
    Gold/Silver Ratio 74.923 0.169 0.23%
    Silver/Gold Ratio 0.0133 -0.0000 -0.22%
    Platinum Price 987.80 -2.70 -0.27%
    Palladium Price 620.60 8.50 1.39%
    S&P 500 2,093.25 25.61 1.24%
    Dow 17,630.27 189.68 1.09%
    Dow in GOLD $s 332.47 3.67 1.12%
    Dow in GOLD oz 16.08 0.18 1.12%
    Dow in SILVER oz 1,204.99 15.97 1.34%
    US Dollar Index 96.86 0.26 0.27%

    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 flatlined. The gold price lost 20 cents to $1,096.30 on Comex; SILVER gave back 3.7 cents to $14.631.

    Good evenin’, Mushrooms! It’s gold and silver futures options expiry today, so you could expect that metals weren’t going anywhere. No, they had to be kept down just one day so those barely out of the money options would expire worthless. They use the same playbook every month. I’m glad that’s behind us.

    Ranges were very tight, $14.68 – $14.51 for silver and $1,098.20 to $1,090.70 for GOLD PRICE. I can’t promise y’all metals will rise tomorrow, but that’s what I expect. Same rules apply: the price of gold must not close below $1,090 nor silver below $14.40. Upside the gold price must o’erleap $1,140 and silver $15.50 to prove they have any muscle left.

    Dow Industrials rose 189.68 (1.09%) today to 17,630.27. S&P500 also rose, 25.61 (1.24%) to 2,093.24.

    I ain’t impressed. In five days it lost 660.99. It’ll take more than a single day gaining 189.68 to fix that.

    Likewise the US dollar index rose 26 basis points to 96.86. So what? Remains below its 20 day moving average.

    Delays in physical silver deliveries on one ounce rounds and now even 100 oz bars have stretched out to three weeks. US 90% premium has risen to $3.30 over spot at wholesale. Now gold coins have caught the infection with rising prices and delayed deliveries. What do y’all reckon that means?

    The door into silver and gold is an exceedingly low and narrow passage. When too many people rush it all at once, some don’t get through. Y’all bear that in mind.

    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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