• This Week Silver and Gold Prices Actually Rose, Yes, Rose.

    24-Jul-15 31-Jul-15 Change % Change
    Gold Price, $/oz. 1,085.60 1,094.90 9.30 0.9
    Silver Price, $/oz. 14.477 14.746 0.269 1.9
    Gold/Silver Ratio 74.988 74.251 -0.737 -1.0
    Silver/gold ratio 0.0133 0.0135 0.0001 1.0
    Dow in Gold $ (DIG$) 334.54 333.99 -0.55 -0.2
    Dow in gold ounces 16.18 16.16 -0.03 -0.2
    Dow in Silver ounces 1,213.55 1,199.64 -13.91 -1.1
    Dow Industrials 17,568.53 17,689.86 121.33 0.7
    S&P500 2,079.65 2,103.84 24.19 1.2
    US dollar index 97.35 97.44 0.09 0.1
    Platinum Price 982.40 984.00 1.60 0.2
    Palladium Price 621.60 610.35 -11.25 -1.8

    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

    This week silver and GOLD PRICES actually rose, yes, rose.

    SILVER today added 5.5 cents to $14.746 on Comex. The GOLD PRICE picked up $6.50 to $1,094.9.

    Since the big drop on 20 July the price of gold has spent 9 days moving sideways in a range between $1,080 and $1,104. Middle of that period the gold price dipped down to an intraday low of $1,072.30 but closed the day higher at $1,098.

    Gold Price

    Today the price of gold actually eroded down to a slightly lower low than yesterday’s $1,082.50, namely $1,080.25 about 9:30. Buyers were waiting to pounce and drove gold clean up to $1,103.65 by 11:15. It backed off and spent the rest of the day twirling around $1,095. Call today a double bottom with yesterday. If so, the gold price needs not to dip lower than $1,085 and needs to climb sharply out of this pit. “Sharply” means crossing $1,104 Monday and pressing on towards $1,040 as fast as it’s skinny little yellow legs will carry it.

    What about the SILVER PRICE? Where are you, honey?

    Today silver traded down to $14.555 cents about 9:00, then shot skyward like a mortar, hit $15.01 and bounced off. Backed off the rest of the day to a low about $14.70. This leaves a double bottom with the low on Monday. Yes, yes, yes.

    Silver Price

    On the daily chart you can see silver and the rounding bottom it has formed. Today at its high it hit the 20 DMA — good. Milestones ahead of silver are first, $15.00, then quickly $15.50 and higher. Both silver and gold prices are set up for a hearty rally. Remember those commitment of traders show large specs short and commercials barely short, exceptionably favorable for both silver and gold prices.

    Gold’s MACD has almost turned up, silver’s has. Gold’s RSI overbought condition has nearly been worked off. If silver and gold don’t start climbing next week, I don’t know when they will.

    I bought silver and gold this week. After that headline claiming gold would sink to $350, y’all ought to buy some, too.

    Premium on US 90% coin is very high now, so high you can swap it for 100 oz bars and end with about 12% more silver. Call us at (888) 218-9226.

    The US dollar index gained 9 basis points, close enough to flat to call it flat. After a vicious 5 day losing streak, stocks rebounded, but began losing ground again yesterday.

    US Dollar

    US dollar looked like a cartoon character today that runs into a wall, then melts down it. Dollar index at one point was down to 96.39, way below the 20 day moving average, and clean to the last low. Something/somebody pounded it on the head with a ballpeen hammer about 8:30 and down it went. Managed to climb back through the day, but closed 25 basis points (0.26%) lower at 97.44. Lots of nervous players in that market here on the last day of the month. Since it technically closed above the downtrend line, the trend remains up, but that smear on the chart looks dreadful. chart on the right.

    Matching the dollar performance, the Euro shot up through its 20 then its 450 DMA, only to close the day back beneath the 20 DMA. Sorry as gully dirt, even if it did rise 0.45% to $1.0983. Yen also reversed yesterday’s breakdown through the uptrend line. Weird going on with currencies. Maybe Nice Government Men getting antsy about a higher dollar?

    Stocks ended the week higher and the month higher, barely, but are rolling over noticeably in a rounding top. Lose 600 points-make back 300 points is not a recipe for advancement. Dow today lost 56.12 (0.32%) to 17,689.86 after stalling yesterday. S&P500 gave up 4.79 (0.23%) to 2,103.84. Dow remains below 200 DMA, bad juju like those drums beating way back in the jungle in one of those old Johnny Weissmuller Tarzan movies. S&P500 diverges from the down since it is considerably higher than its 200 DMA (2,104 vs.. 2068.27) and above its 50 and 20 DMAs. Whoppin’ crash coming.

    Dow in gold dropped 0.96% today to 16.16 oz, and has left behind a series of lower highs. One lower low and the downtrend is complete. Behaving just as it ought if silver and gold have made a bottom and stocks turned down against gold.

    Dow in Silver dropped 0.72% today to 1,198.50 oz, and also shows a series of dropping peaks. Other indicators have all turned down.

    Y’all enjoy your weekend.

    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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