• Gold Price Dropped $8.10 or 0.7% Today to Close Comex at $1,125.00

    22-Sep-15 Price Change % Change
    Gold Price, $/oz 1,125.10 -8.10 -0.71%
    Silver Price, $/oz 14.75 -0.47 -2.97%
    Gold/Silver Ratio 76.27 1.80 2.42%
    Silver/Gold Ratio 0.0134 -0.0003 -2.28%
    Platinum Price 937.60 -36.20 -3.72%
    Palladium Price 610.85 -4.90 -0.80%
    S&P 500 1,942.74 -24.23 -1.23%
    Dow 16,330.47 -179.72 -1.09%
    Dow in GOLD $s 297.93 -1.14 -0.38%
    Dow in GOLD oz 14.41 -0.06 -0.38%
    Dow in SILVER oz 1,073.24 20.43 1.94%
    US Dollar Index 96.45 0.41 0.43%

    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 dropped $8.10 (0.7%) today to close Comex at $1,125, after dropping $5.00 yesterday. SILVER — oooch — lost 46.6 cents (3%) to end at $14.75. Yesterday it actually GAINED 6.2 cents. Is all lost?

    Gold Price

    Not by a long shot. The GOLD PRICE reached resistance above $1,140 and fell back, but today closed only at its 20 DMA ($1,123.80). Look at the chart on the right, You’ll find no disaster there. Below gold needs to hold $1,105 and above it needs to crack $1,150, then $1,170.

    Here’s a question to ask yourself and your spouse: If the stock market is crashing, would you rather hold electrons in the bank or gold in your hand?

    Silver Price

    The SILVER PRICE fine, too, just hit that support at $15.00 and fell through. Go look at the chart on the left, Silver fell back through its 50 DMA nearly to the 20 DMA, giving back about half of what it gained last week. So? So what? Normal up and down market action.

    Here is a measure of progress, and of the battle the Nice Government Men fight day after day [wipe away tear slowly] trying to paint the tape and keep everybody fooled that All’s Swell In The World Cause The Gummit’s In Charge. It also illustrates why I keep gainsaying those “Manipulation is everything” folks, namely, the manipulators can only manipulate at the margin, only briefly, and never successfully against the long term trend.

    I mean, of course, the Dow. Why yesterday the NGM and the Wall Street pimps did a great job pushing the Dow up 125.61 with talk about how the Fed would raise rates after all, later in the year, narf-narf-narf, when anybody with half an eyeball and a quarter of a brain knows the Fed lost all credibility last week when it blinked and raised not interest rates.

    But today the Dow LOST 179.72, netting a minus 54.11 for the two days. Yeah, buddy, them Nice Government Men are doing a bang-up jawb. Dow settled at 16,330.47, down 1.09%. S&P500 lost 24.23 (1.23%) to 1,942.74.

    Listen now, and hear me, mark down my words and see: stocks peaked in May and will lose as much or more by October’s end than they have lost already. Sell your stocks.

    Of course, those of you with fat stock portfolios will say, “He is a bug-eyed looney” but you will be no different from every poor vainglorious soul since the Babylonian Wheat Exchange who has confused a bull market with investing genius. Sell now. In a bear market, money returns to its rightful owner.


    Only thing that bothers me about today — that’s right, I am not bothered by silver and gold slipping, not one flyspeck — is that US dollar index climbing 41 basis points (0.43%) to 96.45 after it climbed yesterday 104 bps. That I could chalk off to the stock market’s rise, but it rose again today.

    Bethatasitmay, the dollar has only reached its 50 day moving average, the marker that stopped it cold as kraut the last time it tried to escape. I didn’t find any news item that rationally explained yesterday’s dollar surge, but I didn’t have much time to look yesterday evening and today none atall. Chart’s here.

    Here’s a question to ask yourself and your spouse: If the stock market is crashing and the US government closes the banks, would you rather have nice safe FDIC insured bank deposits, or silver in your hand?

    Beats me. I’m jus’ a nat’ral born durn fool from Tennessee.

    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.

    Write a comment