• Gold Price Closed at $1323.90 Up $8.60 or 0.65%

    29-Jun-16 Price Change % Change
    Gold, $/oz 1,323.90 8.60 0.65%
    Silver, $/oz 18.36 0.52 2.91%
    Gold/Silver Ratio 72.100 -1.615 -2.19%
    Silver/Gold Ratio 0.0139 0.0003 2.24%
    Platinum 1,011.30 32.40 3.31%
    Palladium 591.55 19.30 3.37%
    S&P 500 2,070.77 34.68 1.70%
    Dow 17,694.68 284.96 1.64%
    Dow in GOLD $s 276.29 2.67 0.98%
    Dow in GOLD oz 13.37 0.13 0.98%
    Dow in SILVER oz 963.66 -12.06 -1.24%
    US Dollar Index 95.86 -0.48 -0.50%
    Don’t miss the point: the goal of the panic has changed. In 2008 everything — gold, silver, stocks — tanked while the US dollar & bonds soared. Brexit hit and some ran into US dollars, a few into yen, but many ran for gold. 
    Change of quality. Sea change. Never be the same again. 
    Disregard the last two days’ stock market rise. Nice Government Men strapped on their hernia trusses & started lifting with all their might, sending eraser boogers & paper scraps & memo pads flyin’ every which way. They are trying to lift stocks & the euro, and smother the dollar. Don’t even bother to sneer at me, history responds with one voice that central banks & governments manipulate markets, and never more readily than when their toe is in the wringer. All their manipulation won’t extract that toe. 
    Brexit licked the globalists like Forrest licked yankees. Expect counterattacks political and economic. Economic already arrived with market manipulation, including S&P’s downgrade of the UK’s credit rating. Media is hot as a cast iron stove denouncing economic doom to fall on Great Britain. Laughable, if you have the patience to listen to it without slamming your hand on the off knob. Political counterattack already began in Brussels, with full propaganda offensive. Elitists are moving within the EU to close off all possibility of any other country following the UK’s example. 
    I was simply wrong. Didn’t believe the British would do it — God bless ’em! — & underestimated the following panic. Brexit was not a cause, but a mighty catalyst. Can’t put broken eggs back together, Humpty Dumpty. 
    Today stocks rose vigorously again, leaving behind their 200 DMAs & crossing back above those head & shoulders necklines they broke on Monday. In the past two days the Dow has gained 554.44, gaining 284.96 (1.64%) today & closing at 17,694.68. S&P500 has done even better, up today 34.68 (1.7%) to 2,070.77. 
    What doth it say? Don’t say squat. Can’t put broken eggs back together, & this plunge was simply waiting for a trigger. Don’t blame it on Brexit. 
    Something — not gravity or nature — has been pushing back the dollar last two days. Gave up 53 basis points yesterday and 48 more today (0.49%) to end today at 95.86. Nice Government Men are trying to shove hair spray back into the aerosol can. Dollar will rise much higher. 
    Therefore I am not impressed by the euros 0.51% rise to $1.1121 today. Chart looks like 5 miles of bad Georgia road and even today it can hardly get over its 200 DMA. Doom has its icy claws deep into the euro’s flesh, & will not let go till it’s shredded. Before it’s all over, the euro will vanish. Look for yourself, http://schrts.co/HcRUv0 
    Yen slid 0.05% to 97.27. Looks like it has run out of go-juice & may reverse. 
    Gold tested support at $1,308 yesterday & today & passed the test with flying colors. Rose 0.7% or $8.60 today to close Comex at $1,323.90. Silver, O SILVER, finally caught up to gold today & vaulted through the May high (18.06) & closed above that resistance. Silver added 51.9¢ (2.9%) today to 1836.2¢, confirmed by high volume. High reached 1858¢. 
    Events are validating my interpretation that the December 2015 lows marked the final lows & end of the bear phase from August 2011, AND that a rally began in January, AND that the 1 May tops were merely the top of the first leg up, AND that the lows at end-May marked the beginning of the next leg up. 
    Get out of silver & gold’s way. They’ll run y’all down. I don’t want to tell y’all how far I expect this rally to reach, ’cause y’all won’t believe me anyway. Time to buy silver & gold, on this silver breakout today, & time to sell stocks & put the proceeds into gold & silver. I’m not going to tell y’all my downside targets for stocks, either, ’cause y’all will just hoot & disbelieve. Just let’s say they will dwindle — like your hairpiece in a windstorm. 
    Silver chart is right here, http://schrts.co/uZ4qEN 
    Gold is here, http://schrts.co/iOtTZn 

    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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