• Gold Price Lost $7.70 or 0.7 Percent to Close at $1,106.50

    4-Nov-15 Price Change % Change
    Gold Price, $/oz 1,106.50 -7.70 -0.69%
    Silver Price, $/oz 15.06 -0.18 -1.19%
    Gold/Silver Ratio 73.458 0.367 0.50%
    Silver/Gold Ratio 0.0136 -0.0001 -0.50%
    Platinum Price 954.10 -7.10 -0.74%
    Palladium Price 623.20 -20.60 -3.20%
    S&P 500 2,102.31 -7.48 -0.35%
    Dow 17,867.88 -50.57 -0.28%
    Dow in GOLD $s 333.81 1.37 0.41%
    Dow in GOLD oz 16.15 0.07 0.41%
    Dow in SILVER oz 1,186.21 10.77 0.92%
    US Dollar Index 98.00 0.76 0.78%

    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 $7.70 (0.7%) to 1,106.50. SILVER dropped 1.2% or 18.1 cents to close Comex at $15.063. The GOLD/SILVER RATIO continues to defy the magnets above and stay low, a hopeful sign. Comex close was 73.458.

    The GOLD PRICE now has closed twice below its uptrend line from the July $1,072.30 intraday low. Moving averages are line up bearishly and the RSI is nearing very oversold. The price of gold has now fallen six days right hand running. I’d buy any sign of a turnaround. I’m going to say I don’t believe it will drop below $1,072.30, but then I’m just a nat’ral born durn fool from Tennessee.

    SILVER caught up with gold’s move yesterday and closed barely below the uptrend line from the August 1391c intraday low. May fall further, and certainly will unless it turns round very soon.

    Y’all ought always bear in mind that at crucial tops markets always SEEM their strongest. They seem ready to extend their rise forever. Yet surely they are set in slippery places, and their unique success announces their demise.

    Don’t know yet whether that has happened with stocks, and I have grimly kept my mouth shut, knowing that the latest phony rise owed everything to the FOMC’s lying blarney, and nothing to economic outlook. But today I noticed that Clive Maund, an outstanding technician, pointed out that the MACD indicator for stocks is at its highest level in 15 years, since the 2000 crash. I have not luxurious time today to list all the other portents, so leave it at this: If I were a Roman augur and Wall Street had come to me to read its future out of a freshly killed sheep liver, I’d have to point out that the liver was black and full of maggots, not a hopeful sign.

    Too soon to tell, but yesterday may have been the move’s top for stocks. More lower closes needed to confirm. Dow lost 50.57 (0.28%) to 17,867.58 while the S&P500 lost 7.48 (0.35%) to 2,102.31.

    Dow in Gold
    Dow in Silver

    Dow in gold at 16.14 oz today against the 16.50 oz July high, has stretched just about as far as it can without negating a turn. Needs a close above 16.50 to do that. Dow in silver stands at 1,186.58 oz against the July high at 1,236.37.

    Diverging today from stocks, the US dollar index, scrofulous, scurvy, blood-sucking parasite on the nation and the world, rose 76 basis points (0.78%) to 98. If it pierces this area and continues up, a very large dollar rally lies in store, which will help silver and gold almost as much as a concrete swimming suit.

    Friends, we live in a world of SEEMING, a world where spin, illusion, deceit, and appearance count for more than BEING. It’s annoying, irritating, and plumb exasperating sometimes, but it’s worth waiting and wading through the lies just to get to watch the truth avenge itself one time.

    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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