• If You've Been Waiting to Buy Gold and Silver, Stop Waiting and Buy

    14-Oct-15 Price Change % Change
    Gold Price, $/oz 1,180.10 14.30 1.23%
    Silver Price, $/oz 16.10 0.21 1.29%
    Gold/Silver Ratio 73.289 -0.046 -0.06%
    Silver/Gold Ratio 0.0136 0.0000 0.06%
    Platinum Price 991.50 2.70 0.27%
    Palladium Price 684.05 15.55 2.33%
    S&P 500 1,994.25 -9.45 -0.47%
    Dow 16,924.75 -157.14 -0.92%
    Dow in GOLD $s 296.47 -6.42 -2.12%
    Dow in GOLD oz 14.34 -0.31 -2.12%
    Dow in SILVER oz 1,051.10 -23.44 -2.18%
    US Dollar Index 93.92 -0.88 -0.93%

    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 jumped up $14.30 (1.2%) to $1.180.10 while SILVER vaulted 20.5 cents 1.3% to $16.102.

    Gold Price

    Couldn’t look better: The GOLD PRICE shot through its 200 DMA AND the downtrend line from Oct. 2012. This is not the end, but the beginning of the move. Must bust through $1,205 next, then head for $1,232. Go, behold, look at the chart on the right!

    The SILVER PRICE has formed a flag, and flags always fly at half staff. That implies a silver move to $17.86 before it quits to breath hard. Today closed above the 200 dma.

    If y’all have been waiting to buy, stop waiting and buy. I ain’t kiddin’.

    A reader kindly sent me a news item from today about Walmart’s 10% plunge today when the company slashed its growth outlook. Walmart stock’s worst ever one day decline, and he biggest percentage fall since 1988. My friend asks, right trenchantly, “If folks can’t afford to spend money at Walmart, what does that mean for the rest of retail?”

    Stocks held up one day longer than I expected, but the Dow eased off 50 points yesterday and tumbled 157.14 (0.92%) today to 16,924.75. S&P lost 9.45 (0.47%) today for a 1,994.24 close.

    Dow Jones

    I wish I wasn’t such a nat’ral born durn fool from Tennessee, cause then I could look at stock charts like these and I could see what them Wall Street smarties see. They see a market about to fly to the moon, while a fool can only see a broken market that rallied back to its breakdown point and now is fixing to have its chain pulled again. I just don’t have what it takes, cuz I look and all I see is that market falling on rising volume, and it makes my teeth chatter.

    Dow in Silver
    Dow in Gold

    But I don’t know sic ’em from come here.

    Dow in silver closed at a new low since the July peak, 1,050.12 oz. against the lowest low, 1,068.65. Mercy, y’all, it’s fixin’ to sink out of sight!

    Dow in Gold isn’t quite as dramatic, but closed today down 1.87% at 14.35 oz, against the August low at 13.74 oz. Both the Dow in Gold and Dow in Silver are firmly headed downward, as their position below their 200 day moving averages screams.

    I expected the US dollar index to move lower, but I didn’t expect it to jump off a cliff. Lost 88 basis points (0.92%) to 93.92 today. That’s below the last intraday low at 94.19 About the only dignity it hasn’t left in the gutter is that last panic low at 92.52. It looks plumb broke now, but a close below that 92.52 will break its back sure enough.

    Euro made some headway in a rally today, up 0.77% to $1.1470. Yen jumped 0.76% to 84.14. Both have turned up against the dollar. Both.

    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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