• Gold Price Traded in an $8.50 Range Today Closing Down $1.30 at $1,114.20

    1-Oct-15 Price Change % Change
    Gold Price, $/oz 1,114.20 -1.30 -0.12%
    Silver Price, $/oz 14.51 -0.01 -0.05%
    Gold/Silver Ratio 76.810 -0.053 -0.07%
    Silver/Gold Ratio 0.0130 0.0000 0.07%
    Platinum Price 903.20 -4.00 -0.44%
    Palladium Price 679.40 28.40 4.36%
    S&P 500 1,923.82 3.79 0.20%
    Dow 16,272.01 -12.69 -0.08%
    Dow in GOLD $s 301.90 0.12 0.04%
    Dow in GOLD oz 14.60 0.01 0.04%
    Dow in SILVER oz 1,121.74 -0.33 -0.03%
    US Dollar Index 96.32 -0.16 -0.17%

    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 have gone flat. Don’t know why they bothered opening the markets today. The gold price traded in an $8.50 range, and ended down $1.30 (0.12%) at $1,114.20. Silver lost 7/10 cent to end Comex at $14.506.

    The SILVER PRICE made one attempt mid-day to rise and reached $14.70, but gave back all those gains to come to roost on that $1450 ledge. Low came at $14.43. Just not enough juice in the market to push it up or down. We’ve been becalmed three days in this $14.70 – $14.43 range. Present downtrend suggests an outcome with lower prices. Premium on US 90% silver coin today eased off 20 cents to $3.80 (wholesale buy side), after it had already dropped 15 cents the day before. That doesn’t settle the question, but it is a small buzzard feather dropping from the sky.

    The GOLD PRICE hit the bottom boundary of that even-sided triangle again today, and rests below its 20 and 50 day moving averages. This is rotten action, but gold remains in an uptrend off the July low.

    I keep asking myself if I’m missing something, but you don’t know what you don’t know.

    Stocks’ staying power was displayed in today’s trading, making it even more obvious that yesterday was tape-painting day. By noon the Dow had sunk 200 points, but “friends” came in to buy and lifted it to only 12.69 points (0.08%) lower than yesterday, settling at 16,272.01. After the same trajectory, the S&P500 gained a weighty 3.79 points (0.2%) to 1,923.82.

    Ain’t that something’? Whole world is smoke and mirrors. Is it real, or Memorex?

    US dollar index can’t quite hold on to its gains. Dropped 16 basis points (0.17%) to 96.32, nearly dead on the 50 DMA (96.29). Like other markets, this one, too, feels listless and directionless. That never lasts for long, but for now the buck is locked in a downtrend. Needs a close above 96.88 to break out skyward, a break below 95.66 to break down.

    Euro and Yen are also listless. Both have formed even-sided triangles that foretell some big move one way or ‘tother, just ain’t telling which. Euro ended 0.06 higher at $1.1185 and the Yen 0.05% lower at 83.38.

    On 1 October 1908 Henry Ford introduced the Model T car at a cost of $825.00 or 39.909 ounces of gold, worth $44,499 today. Even the Government’s understated BLS inflation calculator says that 1908 price would be $19,860 today.

    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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