• Gold Price Lost $3.80 Closing at $1,070.50, Silver Made Another Low at $13.99

    25-Nov-15 Price Change % Change
    Gold Price, $/oz 1,070.50 -3.80 -0.35%
    Silver Price, $/oz 14.16 -0.00 -0.01%
    Gold/Silver Ratio 75.576 -0.263 -0.35%
    Silver/Gold Ratio 0.0132 0.0000 0.35%
    Platinum Price 842.50 2.00 0.24%
    Palladium Price 551.30 9.80 1.81%
    S&P 500 2,088.87 -0.27 -0.01%
    Dow 17,813.39 1.20 0.01%
    Dow in GOLD $s 344.14 1.24 0.36%
    Dow in GOLD oz 16.65 0.06 0.36%
    Dow in SILVER oz 1,258.19 0.17 0.01%
    US Dollar Index 99.82 0.24 0.24%

    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

    On Comex SILVER and GOLD PRICES barely breathed. Silver closed down 1/10 cent at $14.158 and gold lost $3.80 to $1,070. Silver made another low at $13.99.

    Silver Price

    You’ll see the silver price chart MACD is turning up, along with Rate of Change and full stochastics. RSI is plumb oversold, and has been since 9 November. Ripe to turn around. Gold’s RSI is not quite as oversold, but other indicators are also turning up.

    Five day/15 minute charts went a little lower than I wanted, but did not violate the lows seen on Monday. Whoa! So we have a bottom, followed by higher highs and a higher low, an embryonic uptrend.

    I bought silver yesterday and a little gold today. I may end up choking on it, but at least I eat my own cooking.

    Markets are dead in the water ahead of the Thanksgiving holiday in the US. floor traders might try some tricks in Friday’s thin markets, but that won’t stick, up or down.

    Stocks sawed back and forth without gain. S&P500 lost 0.27 to 2,088.87 while the Dow Industrials gained 1.2 to 17,813.39. No movement, no significance.

    US dollar index climbed to a new intraday high for the move since October at 100.23, and a new high close at 99.82, up 24 basis points. These are marginal moves, and clearly for now the dollar is stalled. Vulnerable to a sudden drop if spooked. What might spook it I couldn’t say, if Turkey, arguably a surrogate for the US, shooting down a Russian warplane won’t do the job, and it hasn’t. It appears, by the way, that Obama and Company are in fact stupid enough to embroil the whole world in a war. Better pray they wise up fast.

    Euro lost 0.25% to $1.0618. Yen lost 0.14 to 81.48. Just looking at their charts makes you want to reach for the wastebasket and puke.

    West Texas Light Crude

    Here’s a strange omen, flashing big and bright across the firmament. Oil (WTIC) today closed above its 20 day moving average, having fallen down out of its trading range and trading back up into it. Closed up 4.08% at $44.39.

    Copper Price

    Copper, too, has bounced off $2.00. It’s RSI is so oversold that it looks like a big old black and blue punk knot on somebody’s pumpkin head.

    I mention these two inflation markets because most everybody in the world, including ventral bankers and their economists, who don’t know an economy from Adam’s off ox, expects what they call “deflation” and lower commodity prices. What if the market surprises everybody? What if we are watching now not only bottoms in silver and gold prices, but in other commodities as well? No turnaround has appeared yet, just these little clouds the size of a man’s hand on the horizon. One thing that might tip it over is the Fed failing to raise rates in December. That would pull the plug out of the dollar’s heel and send commodities flying.

    May you all enjoy a blessed Thanksgiving and a grateful heart for all God’s mercies.

    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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