• Silver and Gold Prices Shot Up After the FMOC Annoucement

    17-Sep-15 Price Change % Change
    Gold Price, $/oz 1,117.30 -1.90 -0.17%
    Silver Price, $/oz 14.98 0.10 0.65%
    Gold/Silver Ratio 74.611 -0.614 -0.82%
    Silver/Gold Ratio 0.0134 0.0001 0.82%
    Platinum Price 968.50 -7.30 -0.75%
    Palladium Price 598.50 -12.55 -2.05%
    S&P 500 1,990.30 -5.11 -0.26%
    Dow 16,674.74 -65.21 -0.39%
    Dow in GOLD $s 308.51 -0.68 -0.22%
    Dow in GOLD oz 14.92 -0.03 -0.22%
    Dow in SILVER oz 1,113.51 -11.64 -1.03%
    US Dollar Index 94.51 -1.04 -1.09%

    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

    Comex closed before the FOMC announcement so the GOLD PRICE closed $1.90 lower at $1,117.30 and SILVER 9.7 cents higher at $14.975. But after that announcement they shot up, and gold is now trading 1,130.50 and silver $15.10.

    Gold Price

    What encourages me most is that GOLD/SILVER RATIO, which gapped down mightily yesterday and went lower today, ending at 74.61. This sets the stage perfectly for a silver and gold rally, rally, rally.

    Now all ye gold-croakers and nay-sayers, deal with this: The GOLD PRICE fell down to the support line rising from the July low, bounced on that line 5 days, then bounded up off that line slicing through the 50 and 20 DMAs today. Don’t take my word for it, look yourself, chart on the right.

    Now we all know there’s a leetle resistance up around $1,140, but more important is $1,170 where the August rally failed. Just above that hovers the 200 DMA at $1,181.85. Y’all don’t laugh at me like that’s too much to hope for from here. It won’t take much fear brewing to push gold up there.

    Oh, silver! Honey! You braced your tiny feet on that 50 DMA and jumped plumb over that resistance at $14.95 end and bumped your pretty head through that downtrend line from the April 2013 high. Now you only need to beat beat that old August high at $15.72, then leap for that 200 DMA up at $16.06.

    Today the prophets on the FOMC appeared with comfortable lies in their mouths, urging themselves and the economy on to destruction.

    Forget what they said, and look at what they did, namely, they didn’t raise interest rates. What happened? Stocks fell, dollar tanked, interest rates cratered, and silver and gold jumped up.

    If you want a classic picture of how the Fed roils markets, go to www.nasdaq.com and look at any index’s chart today. Right after the FOMC announcement stocks sank, then rocketed back up, Dow reached 1690 in a sharp peak, then just as quickly sank to close down 65.21 (00.39%) at 16,674.74. S&P500 suffered the same schizophrenia, ending 5.11 (0.26%) at 1,990.20.

    Listen to me, hear what I say: sell stocks. Don’t mess around, the worst is yet to come, and right soon. Don’t listen one more second to those lying prophets.

    Dow in gold sank 1.43% today to 14.76 oz, bouncing off its 200 day moving average and turning decisively earthward again. Dow in silver dropped 1.81% to end right at its 200 DMA, 1,103.19 oz.

    US Dollar Index, as imagined by some nat’ral born durn fool from Tennessee, I can’t remember his name, sank a massive 104 basis points (1.08%) as the disappointed hot-money speculators ran out of the dollar like gamblers out of church when the preacher gets wound up on card-playin’ and drinkin’.

    Dollar cut through its 200 dma (95.29) like a hot knife through butter and ended at 94.51, the very scraping-bottom of the day’s range. Yas, suh, them central banks sho’ do stabilize markets and currencies, don’t they?

    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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