• The Gold Price Rose $3.30 to $1,078.40 on Comex

    5-Jan-16 Price Change % Change
    Gold Price, $/oz 1,078.40 3.30 0.31%
    Silver Price, $/oz 13.95 0.13 0.96%
    Gold/Silver Ratio 77.310 -0.500 -0.64%
    Silver/Gold Ratio 0.0129 0.0001 0.65%
    Platinum Price 888.60 5.40 0.61%
    Palladium Price 535.10 -7.85 -1.45%
    S&P 500 2,016.71 4.05 0.20%
    Dow 17,158.66 9.72 0.06%
    Dow in GOLD $s 328.91 -0.82 -0.25%
    Dow in GOLD oz 15.91 -0.04 -0.25%
    Dow in SILVER oz 1,230.10 -11.05 -0.89%
    US Dollar Index 99.46 0.54 0.55%

    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 rose $3.30 to $1,078.40 on Comex. The SILVER PRICE gained 13.2¢ to $13.949.

    My needle is stuck in the same old groove: The gold price must break through $1,088 and silver through $14.40. Nothing else will answer the case.

    Today and yesterday the GOLD PRICE crossed the first tripwire of a rally, rising above its 20 day moving average ($1,068.62), but this is a baby step. Silver did not quite beat its 20 DMA, now $14.02. Silver’s trading for the last 20 months still resembles an upside-down head and shoulders, which would signal a bottom.

    I sure do love the free market, ’cause it has a solution for everything. Bernard O’Bama announced new restrictions on gun sales, and Smith and Wesson rose to its highest value ever. Free market supplies a need for every want.

    Yesterday’s commentary erred in the prices of the Dow Industrials and S&P500. Should have been 17,148.94 (down 276.09) and 2,012.66 (down 31.28). I apologize for the error, but it maketh not a whit’s bit of difference to my conclusions.

    Today the Dow Industrials gained a whopping 9.72 (0.06%, a rounding error). S&P500 shot up 4.05 (0.2%) to 2,016.71. Chart for the day looks like a cross section of the Mariana Trench. I repeat, and again, repeat, stocks are in trouble and 2016 will see them suffer like Job, complete with boils.

    Once again the US dollar index rose, this time 54 basis points (0.55%) to 99.46. No doubt the dollar was again catching the safe haven bid, but even in the teeth of this fairly strong dollar rise, gold and silver rose, too.

    Euro gapped down today 0.71% to $1.0755. The Frankencurrency, like the Franken-empire, is yielding to centrifugal force. Yen gained 0.29% to 84.01. Top of 11 month range is 84.65, so ’twill be interesting to watch what the Japanese Nice Government Men do when the yen tries to escape their cage.

    Tomorrow is Epiphany, the last of the Twelve Days of Christmas.

    Aurum et argentum comparenda sunt — — Gold and silver must be bought.

    – Franklin Sanders, The Moneychanger

    © 2016, 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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