• Gold Price Closed at $1268.00 Down -2.50 or -0.20%

    22-Jun-16 Price Change % Change
    Gold, $/oz 1,268.00 -2.50 -0.20%
    Silver, $/oz 17.31 -0.01 -0.03%
    Gold/Silver Ratio 73.274 -0.119 -0.16%
    Silver/Gold Ratio 0.0136 0.0000 0.16%
    Platinum 983.10 2.00 0.20%
    Palladium 564.85 10.90 1.97%
    S&P 500 2,085.45 -3.45 -0.17%
    Dow 17,780.93 -48.90 -0.27%
    Dow in GOLD $s 289.88 -0.23 -0.08%
    Dow in GOLD oz 14.02 -0.01 -0.08%
    Dow in SILVER oz 1,027.50 -2.47 -0.24%
    US Dollar Index
    Markets were comatose today, paralyzed by Brexit’s uncertainty. Gold traded in a $10 range, silver 24¢. Dollar gave back yesterday’s gains, as did stocks. All eyes are on Brexit, except the ones like mine which have drifted off into a doze. 
    Lo, the US dollar index gave back 39 of 42 basis points it gained yesterday, chalking up a 0.41% loss to 93.78. In the last three days the dollar index has, quite literally, plowed back and forth over the very same ground. No gain, no change. 
    Meanwhile the euro gained 0.47% to $1.1298. No reason to guess whether this is real or Memorex, I’ll tell you right out: it’s Memorex. Central banks are supporting the euro before Brexit, and should Brexit brex, they will buy more to forestall its humiliating collapse. Yen gained 0.34% to 95.78. Whole world’s become one gigantic Potemkin village. 
    Stocks stalled, giving back yesterday’s gains & closing lower, the Dow below its 50 DMA. Dow lost 48.9 or 0.27% to 17,780.93 — jumped early inn the day, but began fading about 11;00 and never woke up. S&P500 backed off 3.45 90.17%) to 2,085.45. 
    Dow in gold and Dow in silver haven’t changed. Both are headed lower. 
    Gold shaved off $2.50 (0.2%) on Comex to close at $1,268. Silver — get out your microscope — lost 6/10¢ to 1730.5¢. 
    It does no good a-tall to speculate on the market outcome after Brexit. More important is the primary trend, which is up for silver & gold, topping for stocks, & unproven & neutral for the US dollar index. Whatever blip Brexit causes won’t last more than a few weeks. Central banks will do all in their considerable criminal powers to smother and dampen those effects. 

    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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