• Gold Price Closed at $1220.10 Down $1 or -0.08%


    28-Mar-16 Price Change % Change
    Gold, $/oz 1,220.10 -1.00 -0.08%
    Silver, $/oz 15.19 -0.01 -0.04%
    Gold/Silver Ratio 80.349 -0.034 -0.04%
    Silver/Gold Ratio 0.0124 0.0000 0.04%
    Platinum 944.70 -7.70 -0.81%
    Palladium 566.85 -5.65 -0.99%
    S&P 500 2,037.05 1.11 0.05%
    Dow 17,535.53 19.80 0.11%
    Dow in GOLD $s 297.10 0.58 0.20%
    Dow in GOLD oz 14.37 0.03 0.20%
    Dow in SILVER oz 1,154.79 1.76 0.15%
    US Dollar Index 95.96 -0.21 -0.22%
    Happy Easter Monday! In Europe Easter Monday is a holiday, so not much happened today. Besides, even though options expiry occurred today, silver & gold had been driven down enough last week to keep the options writers from having to pay off on most options. 
    Next options expiry is 26 April. Y’all watch how silver & gold will dip on that date. 
    Stocks churned up and down today, one index gainsaying another. While the Nasdaq and Nasdaq 100 fell (about 0.15%), Dow Industrials & S&P500 rose tinily (I just coined that word). In jagged trading the Dow managed to end 19.8 (0.11%) higher. S&P500 millimetered up 1.11 (0.05%) to 2,037.05. Both indices have broken down from rising wedges. Okay, maybe they rise yet to a higher high by a few points? Won’t save them. Rally over. 
    After six higher days the US dollar index today dropped 21 basis points (0.22%) to 95.96. Supposedly this happened because the January personal consumption expenditures came in at 0.1% versus a 0.2% forecast. The idea of adults watching a number that imaginary and insignificant & then making investment decisions on it pains the fastidious mind. Seems to me the US dollar index just got too near the Kryptonite at the 50 day moving average (97.34) and withered. But how much can a nat’ral born durned fool from Tennessee know? I say “y’all” and my mouth can’t even wrap around the words “youse guys.” I wouldn’t make it on Wall Street. 
    Silver & gold prices moved little today. Hardly worth talking about. Gold lost one thin Fern (Federal Reserve Note) to $1,220.10. Silver gave up — wait for it! — 6/10 of a cent to 1518.5¢, in blistering trading. 
    Gold felt with its toes toward the 50 day moving average ($1,197) and made a new low for the move at $1,206.10. Be warned now, so y’all don’t fly to pieces when it happens, that if gold works through $1,200 the selling will hit it like a concrete block hitting a roach. Don’t let that bother you. Ought to stop around $1,190 or $1,170. http://schrts.co/NFZqJT 
    The silver price  now is treading water below its 20 day moving average (1542¢), looking its 50 DMA (1504) in the eye. There’s more: 200 DMA lieth just below at 1492¢, The bowl lip about 1460¢ looks strong enough to catch it. http://schrts.co/zsmR7J 

    I won’t be sending a commentary tomorrow because I’ll be finishing my monthly newsletter. See y’all again Wednesday, God willing.

    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.  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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