• Gold Price Dropped $4.00 but Remains Above it's 200 Day Moving Average at $1,194.70

    10-Feb-16 Price Change % Change
    Gold Price, $/oz 1,194.70 -4.00 -0.33%
    Silver Price, $/oz 15.28 -0.17 -1.08%
    Gold/Silver Ratio 78.203 0.587 0.76%
    Silver/Gold Ratio 0.0128 -0.0001 -0.75%
    Platinum Price 933.30 -4.40 -0.47%
    Palladium Price 517.80 7.20 1.41%
    S&P 500 1,851.86 -0.35 -0.02%
    Dow 15,914.74 -99.64 -0.62%
    Dow in GOLD $s 275.37 -0.80 -0.29%
    Dow in GOLD oz 13.32 -0.04 -0.29%
    Dow in SILVER oz 1,041.75 4.81 0.46%
    US Dollar Index 96.07 -0.67 -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

    The GOLD PRICE finally dropped a little, down $4.00 (0.33%) to $1,194.70. SILVER backed up 16.7¢ to $15.277.

    Both silver and GOLD PRICES remain above their 200 day moving averages, but silver is beating its head against that downtrend line from the October 2013 high. Makes this a likely place to stage a short correction and rebuild momentum.

    The price of gold is wavering, too, after a splendid run. Unless gold can pierce the three-day old high at $1,201.40, expect a little correction. Don’t let it scare you. Patiently watch for your chance. I would buy a breakout close over $1,205, should that come first. Quite literally, the gold price could go either way, higher or lower, and higher means very much higher. Main chance still favors a correction.

    Where in the WORLD do they get these central banking people? Former head Fed criminal Ben “Helicopter” Bernanke said today the Fed should add negative rates to its toolkit. Oh, like Jack the Ripper should add a longer, sharper scalpel to his “toolkit”?

    Where’d they get this moniker “toolkit” anyway? Makes ’em sound like somebody doing honest work, a plumber or trim carpenter, not a criminal central banker raping the public and their economic future.

    Mother Yellen, not to be confused with Mother Jones or Mother Earth, mumbled before congress that the Fed still will raise interest rates, SOMETIME, but mostly talked about instituting negative interest rates, which she reckons they can legally do. Ominous, I’d say, but then I don’t trust ’em to tell the truth to their mothers.

    Yellen’s comments goosed stocks up, but they couldn’t hold the gains. Nasdaq ended up a little, but the blue chip Dow dropped 99.64 (0.62%) to 15,914.74 and the S&P500 dropped 0.35 (0.02%) to 1,851.86. Looking mighty sorry, like stocks are ready to jump over the cliff.

    Yeah, Buddy, that central banking is GREAT for stabilizing markets, handy as an atom bomb for mashing potatoes.

    US dollar took no heart from Mother Yellen’s nasal remarks, either. Dropped 16 basis points (0.16%) to 95.78. Having smashed support at 97.20, and 97.50, and the 200 day moving average and 96.50, dollar index has now moved on to smash 96. Dad-durn, that’s what I want, one of them FLEXIBLE currencies.

    Euro took sick today and puked back 0.3% to end at $1.1284. Yen took all the gain and glory, up 1.51% to 88.17. Way out of control for the NGM. Meanwhile the 10 year treasury note yield took its own step toward negative rates by falling 1.39% to close at 1.705%. Yield is way oversold (note is way overbought).

    Today is Ash Wednesday, the beginning of the Lenten season.

    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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