• Price of Gold Fell $10.40 or 0.9 Percent Today Closing at $1,167.60

    21-Oct-15 Price Change % Change
    Gold Price, $/oz 1,167.60 -10.40 -0.88%
    Silver Price, $/oz 15.70 -0.21 -1.31%
    Gold/Silver Ratio 74.388 0.324 0.44%
    Silver/Gold Ratio 0.0134 -0.0001 -0.44%
    Platinum Price 1,006.00 -12.90 -1.27%
    Palladium Price 676.65 -17.70 -2.55%
    S&P 500 2,018.94 -11.83 -0.58%
    Dow 17,168.61 -48.50 -0.28%
    Dow in GOLD $s 303.96 1.83 0.61%
    Dow in GOLD oz 14.70 0.09 0.61%
    Dow in SILVER oz 1,093.82 11.32 1.05%
    US Dollar Index 95.05 0.11 0.12%

    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 took it in the gut today. Silver dropped 20.9 cents (1.3%) to close $15.696 on Comex. The gold price fell $10.40 (0.9%) to $1,167.60.

    This comes as no surprise, but it would be best if the PRICE OF GOLD dipped only to its 20 day moving average now at $1,151.61. Breaking $1,150 will be very bad form. (That’s lower than the $1,560 I mentioned on Monday). Silver closing below $15.50 will lead to lower prices. 20 DMA is at $15.50.

    The black mouldy pall of the shadow of the Fed is descending on markets, waiting for the outcome of the FOMC’s meeting October 27-28, the last until December 15-16. Chances of them raising interest rates is less than the chance of Bernard Obama being abducted by aliens tonight, but the Fed has kept the blarney cannon firing to keep markets befuddled. Probably stocks will sell off on the news of no interest rate increase.

    But the Fear of the Fed — Fed-o-phobia — is depressing most markets.

    US Dollar Index

    US dollar index rallied, perhaps on speculators’ hopes the Fed really will raise rates, above its current downtrend line. On a daily chart this doesn’t look like an advancing market, merely confused back and forth trading with a slightly upward bias. For whatever reason, the dollar index rose 11 basis points (0.12%) to 95.05. Since its swimming below its 20, 50, and 200 day moving averages, in that order, today’s rise won’t beget any shoutin’ and jubilatin’. Doesn’t say much.

    Stocks continue to falter, putt-putt-putt. Dow lost 48.5 (0.28%) to 17,168.61. S&P coughed up 11.83 (-.58) at 2,018.94. Waxed weaker and weaker as the day drew to its closed.

    After today I’ll be travelling until the 29th, so won’t be sending out commentaries. I’ll be back on the 29th, God willing.

    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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