• Price of Gold Rose $9.20 or 0.86 Percent Today Closing at $1,078

    19-Nov-15 Price Change % Change
    Gold Price, $/oz 1,078.00 9.20 0.86%
    Silver Price, $/oz 14.24 0.16 1.15%
    Gold/Silver Ratio 75.692 -0.217 -0.29%
    Silver/Gold Ratio 0.0132 0.0000 0.29%
    Platinum Price 857.60 10.10 1.19%
    Palladium Price 538.05 8.95 1.69%
    S&P 500 2,081.24 2.34 0.11%
    Dow 17,732.75 -4.41 -0.02%
    Dow in GOLD $s 340.04 -3.01 -0.88%
    Dow in GOLD oz 16.45 -0.15 -0.88%
    Dow in SILVER oz 1,245.10 -14.64 -1.16%
    US Dollar Index 99.05 -0.69 -0.69%

    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

    Whoo! We needed something to get our blood moving again. Today the PRICE OF GOLD finally broke its losing streak, bumping up $9.20 to $1,078.00 on the Comex. SILVER leapt 16.2 cents to $14.242, up to $14.28 in the aftermarket. Cyclically both are due for a low sometime in the latter half of November.

    Gold Price

    Over Tuesday, Wednesday, and Thursday the PRICE OF GOLD made a bowl bottom. Lip of that bowl stands about $1,078, through which the gold price passed today, then touched back to make sure. Whether this will last or not — and we may have seen the bottom on Tuesday — gold will rise for the next few days. Must first push through $1,100.00 to prove it has any nerve at all.

    Silver Price

    The SILVER PRICE five day chart sports an upside down head and shoulders with a head/bottom yesterday. Doesn’t prove yesterday was THE bottom, only says silver will rally at least a few days. Believability and durability doesn’t come until silver crosses first $14.40 then $15.00. Coincidentally, the 20 DMA right now stands at $14.92. So far we have a double bottom July and November with intraday lows at $13.91 and #13.99. As with the gold price, the rate of change and full stochastics have turned up, but not yet the MACD, quite.

    GOLD/SILVER RATIO is acting consistently with an upward reversal in metals. That is, it topped 4 days ago and has since declined. Needs now to close below the 50 and 20 DMAs, not intertwined at 74.66 and 74.51. Indicators are rolling over downward.

    Today we got proof. Not a lot of proof, but sound and promising more. If you’ve been itching to buy, time to start. I believe those folks waiting for $750 gold price and $10 silver will be proven wrong, but mercy! What in the world do I know? I ain’t no more than a nat’ral born durn fool from Tennessee, so far back in the woods we have to order sunlight from Sears and Roebuck.

    Stocks were markedly less jubilant today than yesterday. Fact of the business is, they performed miserably. Four times the Dow and S&P500 tried to pierce the unchanged line, four times they were driven back. With a mid-day high, looks awfully toppy. This schizophrenic on again, off again belongs to the volatility of a trend-changing market. Bulls remain hopeful and buy on any spur, but can’t make good that progress, so the sellers win again.

    Dow lost 4.41 today to 17,732.75. Not much, but symbolic. S&P500 lost 2.34 (0.11%) to 2,081.24.

    Dow in Gold and Dow in Silver both hooked down today and appear — O, mercy! — appear to have turned down. If so, that leaves behind double tops in both, which, although painful to live through, puts a firm cap on stocks’ advance against metals since 2011.

    Lo, the US dollar index topped yesterday, according to the 5 day chart. Then on the longer term chart it fell through the uptrend line, which pretty well locks in the break. Careful, I’m not saying it has reversed its longer term, only reversed for a correction. It would have to fall below 96.50 to bring that longer term upward trend into question.

    Dollar index fell 69 basis points (0.7%) to 99.05. Euro took that opportunity to sneak up 0.68% to $1.0734. Yen rose 0.63% to 81.40. Those last two remain dead broke, destined for lower things.

    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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