• Gold Price Lost $5.70 or 0.5 Percent to $1,135.80

    2-Nov-15 Price Change % Change
    Gold Price, $/oz 1,135.80 -5.70 -0.50%
    Silver Price, $/oz 15.57 -0.15 -0.97%
    Gold/Silver Ratio 72.967 0.348 0.48%
    Silver/Gold Ratio 0.0137 -0.0001 -0.48%
    Platinum Price 978.40 -10.20 -1.03%
    Palladium Price 650.15 -26.90 -3.97%
    S&P 500 2,079.36 -10.05 -0.48%
    Dow 12,828.76 165.22 1.30%
    Dow in GOLD $s 233.49 4.16 1.81%
    Dow in GOLD oz 11.29 0.20 1.81%
    Dow in SILVER oz 824.15 18.53 2.30%
    US Dollar Index 96.97 -0.04 -0.04%

    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 lost $5.70 (0.5%) to $1,135.80 on Comex. Silver dropped 15.3 cents (1%) to $15.413.

    Not much pattern in silver and gold prices either, but they both failed to pierce the 200 day moving average and are trending down. If silver’s newly won friends in hedge funds (the dumb money) get scared, they’ll skedaddle fast. Today silver broke that $15.50 support, so is just bound to hit that uptrend line from the August low, just above $15.00.

    The GOLD PRICE fell through its 50 DMA (1,140.56) and is heading for the uptrend line about $1,120.

    Time to think about seasonal patterns, the average of 30 years’ price action. Now you can’t do more than set your calendar by them, but they do convey some notion how things behave.

    After a flat first six month’s with maybe a high in May, The gold price seasonal pattern strongly trends to rise out of June or July lows to year’s end. Here’s Dimitri Speck’s seasonal gold price chart, http://www.seasonalcharts.com/classics_gold.html

    SILVER, on the other hand, tends to reach it’s year’s high in April or May, then move sideways the rest of the year. http://www.seasonalcharts.com/classics_silber.html

    Both metals often make a high in October followed by a low in November, then rise into year end. Warning! This is an average, and y’all know that the average height of a three foot midget and a nine-foot giant is six feet, so be careful.

    I hate to waste y’all’s time with nothin’ to amount to a hill o’beans to talk about, but today was just more of the same. It’s liable to be another day before stocks come off their high horse.

    Dollar faltered and stumbled again today, not much but 4 basis points to close below 97 at 96.97. Jes’ don’t make no sense, so I peeked at the 5 day chart to see if it could stimulate my mind, but I’ll be switched if I can see e’er a pattern there. Last Wednesday when those FOMC liars lied about making interest rates in December, it shot straight up, but since then it’s been like a log rolling down an easy hill. Has no mind to rise, and after breaking out thru that downtrend line from the March high, has just fallen off in the ditch. I’m not writing it off, but I think it’s plumb peculiar to faint after a big deal move.

    Them FOMC folks are such liars they have to hire somebody else to call their hogs.

    Stocks are just a-boomin’ again today. Dow found 165.22 (0.94%) somewhere to end at 17,828.76 while the S&P500 added 24.69 (1.19%) to 2,104.05.

    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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