• Gold Price Closed Above it's 200 Day Moving Average at $1,178

    20-Oct-15 Price Change % Change
    Gold Price, $/oz 1,178.00 4.70 0.40%
    Silver Price, $/oz 15.91 0.08 0.48%
    Gold/Silver Ratio 74.065 -0.059 -0.08%
    Silver/Gold Ratio 0.0135 0.0000 0.08%
    Platinum Price 1,018.90 5.50 0.54%
    Palladium Price 694.35 6.75 0.98%
    S&P 500 2,030.77 -2.89 -0.14%
    Dow 17,217.11 -13.43 -0.08%
    Dow in GOLD $s 302.13 -1.45 -0.48%
    Dow in GOLD oz 14.62 -0.07 -0.48%
    Dow in SILVER oz 1,082.50 -6.05 -0.56%
    US Dollar Index 94.90 -0.05 -0.05%

    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 rose $4.70 (0.4%) while SILVER added 7.6 cents (0.5%) to $15.905 while . That’s nice, but as non-committal as a government form letter. The gold price managed to close above its 200 DMA ($1,177.5) but silver did not (200 is at $15.92). The gold price chart today looks like an advancing wave, with an overnight low at $1,167.20 and a high at $1,181.40 about 12:30. Overall it was an advancing day, but without much enthusiasm.

    “Moneychanger, why so sour? What would you call `enthusiasm’?”

    For the GOLD PRICE, a close ABOVE the last high at $1,191.70, followed by higher prices still, namely, punching through $1,205 like wet cardboard. For silver, a close above the last intraday high, $16.20, followed by a steady march toward $17.70.

    Don’t y’all bother to get mad at me, you’ll just be shooting the postman. I don’t write the message, I just deliver it.

    Today stocks peaked early in the day just barely above unchanged, then spent the rest of the day falling. About 2:00 the expected magical POOF! came, but failed to boost stocks above unchanged. Dow ended down 13.43 (0.08%) to 17,217.11; S&P500 lost 2.89 (0.14%) to 2,020.77. Five day chart begins to have the look of an upside down bowl top, so stocks need to advance soon to break that pattern.

    Dollar index bumped into the falling trend line and it stunned it bad enough to stop it cold. Lost only 5 basis points to 94.90. Trend is down, but question remains whether this last bottom will furnish a platform from which the dollar can launch a rally, or a manhole for a fall. Still below all moving averages, which are bearishly lined up overhead. We need to see it below 92.50.

    Euro knee-jerked up 0.12% to $1.1340, responding to the dollar’s slip, but nothing is happening with the euro. Nobody home. Yen lost 0.31% to 83.42 and chart looks as feckless as the euro’s.

    Beginning tomorrow I’ll be travelling until the 29th, so won’t be sending out commentaries. I’ll miss y’all. Knowing y’all are there brightens my world. How do I know? I’ve talked to you. I know.

    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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