• If the Gold Price Can Close Above $1,264 it will Run for $1,400

    3-Mar-16 Price Change % Change
    Gold Price, $/oz 1,257.40 16.30 1.31%
    Silver Price, $/oz 15.13 0.13 0.85%
    Gold/Silver Ratio 83.101 0.377 0.46%
    Silver/Gold Ratio 0.0120 -0.0001 -0.45%
    Platinum Price 942.20 6.50 0.69%
    Palladium Price 542.45 26.95 5.23%
    S&P 500 1,993.40 6.95 0.35%
    Dow 16,943.90 44.58 0.26%
    Dow in GOLD $s 278.56 -2.92 -1.04%
    Dow in GOLD oz 13.48 -0.14 -1.04%
    Dow in SILVER oz 1,119.81 -6.58 -0.58%
    US Dollar Index 97.53 -0.69 -0.70%

    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

    GOLD PRICE is the key. Moved today near the top boundary of that bear flag, PLUS it made the highest close yet for this move, including that first huge jump on 11 February. I repeat what I have repeated so often, if the GOLD PRICE can close above $1,264, it will run for $1,400. SILVER will follow.

    Something bad, something we can’t see, is wrong with the US dollar and the financial system. That’s what the dollar’s repeated fainting spells are telling us, as well as that high GOLD/SILVER RATIO.

    Whoa. Ratio trades, swapping gold for silver, are still bringing in good numbers. Do the trade now if you ever intend to.

    I literally must run out the door, but couldn’t leave without sending y’all prices at least.

    Stocks rose today, dow up 44.58 to 16,943.90, S&P500 up 6.95 to 1,993.40. No surprises there, just what we expected.

    But the US dollar tripped badly, off 69 basis points (0.71%) to 97.53. It got over its 50 DMA then wilted, fainted, passed clean out. Very bad for dollar. Closes below 200 DMA (97.07), twill be hanging out to dry.

    Dollar’s trouble was gold’s gain. Up 16.30 (1.31%) to 1,257.40. Wow. Silver gained only 12.8¢ to $15.131¢. Aftermarket finds both higher, Gold at $1,263.10 and silver at $15.245.

    My wife has hijacked me to take her to the storytellers’ convention at Callaway Gardens in Georgia tomorrow, so I won’t be sending a commentary. If I hear any good stories, I’ll bring ’em back for y’all.

    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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