• Gold Price Lost $8.80 or 0.77 Percent to Close at $1,123.70

    3-Sep-15 Price Change % Change
    Gold Price, $/oz 1,123.70 -8.80 -0.78%
    Silver Price, $/oz 14.70 0.04 0.28%
    Gold/Silver Ratio 76.432 -0.814 -1.05%
    Silver/Gold Ratio 0.0131 0.0001 1.06%
    Platinum Price 1,009.30 -3.50 -0.35%
    Palladium Price 580.60 -2.20 -0.38%
    S&P 500 1,965.03 16.17 0.83%
    Dow 16,480.52 129.14 0.79%
    Dow in GOLD $s 303.18 4.71 1.58%
    Dow in GOLD oz 14.67 0.23 1.58%
    Dow in SILVER oz 1,120.97 5.67 0.51%
    US Dollar Index 96.42 0.58 0.61%

    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

    GOLD PRICE lost $8.80 (0.77%) to close Comex at $1,123.70. SILVER gained 4.1 cents (0.3%) to end at 1470.2c.

    Clearly, silver and GOLD PRICES ain’t going nowhere. Today the price of gold closed below the uptrend line and below the intertwined 20 and 50 day moving averages, something that cheers my heart as much as seeing 2,500 Sioux in war paint cheered Custer’s. Actually, ’tain’t that bad. It’s probably just the last leg down of the correction to the first leg up, and will probably lodge about $1,110 and turn round. But what do I know, a nat’ral born durn fool from Tennessee?

    The SILVER PRICE strength relative to gold is seen in the GOLD/SILVER RATIO, which today fell 1.1% to 76.432. That’s like getting somebody to scratch your back: enough to tease you, but not enough to do any good. Needs to fall under 75 and keep falling.

    Watching silver rise confers all the burning sport and excitement of watching snails race. My, my, four point one cents up today, my, o, my. That silver’s really lighting a shuck.

    Not much point in jawin’ about this middle ground. It’s all noise until silver crosses 1500c and lights out. Till then it’s vulnerable to another tumble.

    Personally, I believe both silver and gold have bottomed, but they’re awfully mean to their friends here lately. Course, they can’t hold a candle to what stocks’ve done to THEIR friends. Reckon those friends will start changing their minds here pretty soon.

    Sorry, scrofulous, scabby US dollar index added to the constarnation and confusion today by rising instead of plunging. Touched the 20 DMA and closed above the downtrend line as well as the 20 DMA. Gained 58 basis points (0.6%) to 96.42.

    I am neither concerned nor impressed. Every day stocks rally, the scabby dollar, world parasite, also rallies. Two might as well be the famous Siamese Twins of Mt. Airy, Chang and Eng Bunker (no kin to Archie Bunker). That leads me to suspect next time stocks drop, dollar will, too. And stocks are liable to drop tomorrow.

    Dow rose 129.14 (0.79%) to 16,480.52, on its way to 14,200 and lower. S&P500 gained 16.17 (0.83%) to 1,965.03. I am still seeing people call this a “correction” and a great time to buy. People like that would pull the wings off’n flies or set cats’ tails on fire or feed a neighbor dog pizened meat. No conscience a-tall.

    Sorry I missed y’all yesterday evening, but I had to finish my monthly Moneychanger for paid subscribers. By the way, I will be on vacation next week so will not be sending any commentaries.

    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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