• Price of Gold Closed at $1234.20 up $7.30 or 0.59%

    31-Mar-16 Price Change % Change
    Gold Price, $/oz 1,234.20 7.30 0.59%
    Silver Price, $/oz 15.46 0.25 1.67%
    Gold/Silver Ratio 79.832 -0.853 -1.06%
    Silver/Gold Ratio 0.0125 0.0001 1.07%
    Platinum 976.60 12.30 1.28%
    Palladium 563.05 -2.35 -0.42%
    S&P 500 2,059.74 -4.21 -0.20%
    Dow 17,685.09 -31.57 -0.18%
    Dow in GOLD $s 296.21 -2.29 -0.77%
    Dow in GOLD oz 14.33 -0.11 -0.77%
    Dow in SILVER oz 1,143.93 -21.18 -1.82%
    US Dollar Index 94.64 -0.21 -0.22%

    I have to make this quick because a big storm with tornadoes is closing on me across Wayne County. 
    Having accomplished its largesse to Wall Street, Janet Yellen’s spell evaporated today, just like Cinderella’s coach and four returning to pumpkin & mice at midnight. Poof! 
    Dow hit 17,790 at yesterday’s high, but early this morning its skin started turning orange. Lo, as the day waxed later, the Dow began to sprout a green stem. About 12:30 it turned down and skidded to the curbside, almost shot at 17,663, but it bounced off that curb up to only 31.57 (0.18%) lower than yesterday. S&P500 was like those lizards turned into Cinderella’s coachmen. As the day wore on and the clock struck 12:30, its skin started turning green. By 2:30 it had a long tail, and claws. Ended the day 4.21 (0.2%) lower & looking right wizardly. 
    Both the Dow in Gold & Dow in silver turned zagged down today. Last 2 days the DiS had been above its 200 DMA, but no mo. http://schrts.co/ohwLZP 
    Dow in Gold at 14.463 yesterday came close to the 50% correction (14.71 oz), & turned down today, closing at 14.33 oz. http://schrts.co/8Sv0tc 
    But Janet’s spell didn’t fall off the US dollar index. It trashed another 21 basis points (0.23%) to 94.61. http://schrts.co/fOyfqb The world still holds some foolish people who believe the criminals at the Fed & the world’s central banks have the people’s best interest at heart. Right, like Cinderella’s sweet stepmother was hunting her a husband. 
    Euro rose 0.38% to $1.1380 while the yen fell 01.2% to 88.85. Euro’s rally is propelled only by the dollars woe. 
    Gold rose $7.30 (0.6%) to $1,234.20 on Comex. Silver rose 25.4¢ (1.67%) to 1546¢. 
    I feel like a tick hanging on the tip of a Labrador Retriever’s tail. I’m thrown first one way, then t’other so fast my eyes can’t focus. One minute I believe silver & gold are headed up, then I think about it another way or read something & think that correction is still lurking. 
    Here’s a gold chart, http://schrts.co/cXRPsq 
    I have added a green line to mark the uptrend from the December/January low. Tomorrow that line crosses $1,214, so a close below that would clinch the arrival of a correction. I will box it closer than that. Gold must also climb ABOVE the 20 DMA now at $1,246.62 to prove it means to climb. 
    Silver came within a hair of closing above its 20 DMA at 1549¢. Tomorrow boxed in between 1518¢ (uptrend line) and 20 dma at 1549¢. 
    Got to run. I can hear the thunder & am headed for my basement at home. 

    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.

    Write a comment