• Gold Price Closed at $1334.10 Down $20.90 or -1.54%

    12-Jul-16 Price Change % Change
    Gold, $/oz 1,334.10 -20.90 -1.54%
    Silver, $/oz 20.13 -0.13 -0.66%
    Gold/Silver Ratio 66.274 -0.593 -0.89%
    Silver/Gold Ratio 0.0151 0.0001 0.89%
    Platinum 1,094.40 -10.30 -0.93%
    Palladium 629.00 3.20 0.51%
    S&P 500 2,152.04 14.98 0.70%
    Dow 18,347.67 120.74 0.66%
    Dow in GOLD $s 284.30 6.23 2.24%
    Dow in GOLD oz 13.75 0.30 2.24%
    Dow in SILVER oz 911.46 11.99 1.33%
    US Dollar Index 96.59 -0.10 -0.10%
    Lawsie, the jubilatin’ became general & there’s a run on New York gin stores in the rush to celebrate. Dow closed at a new all time high today, 18,347.67 (vs. 2015’s 18,312.39), up 120.74 or 0.66%. S&P500 made another new all-time high today, second in two days, at 2,152.04, up 14.98 (0.7%). 
    Listening to the Wall Street shills, you’d think the millennium had arrived & the paving trucks were even now backing up to pave Wall Street with gold. That might be a mite previous, as we say. Looks to me like a textbook double top. This one is fed by the re-election of Abe in Japan, and is feeding on the assumption that the Bank of Japan and other criminal central banks will open wide the floodgates of new money stimulus again. Nothing has changed, & this game can just roll on forever, world without end. 
    I knew a man once who thought he could repeal the law of gravity at will. Jumped off a 15 story building to prove his point. On the way down, somebody on the 12th floor heard him yell, “So far, so good!” 
    What he said at ground zero is not recorded. 
    It’s risk-on trades all over the globe as the speculators dive in again. Scared to miss the train, they shucked bonds today so hard that the 10 year treasury yield gapped up. US dollar index sank again beneath its 200 day moving average, closing at 96.49, down 0.1 (0.11%). Not inspiring, but see for yourself, http://schrts.co/OkJ5UT 
    Yen gapped down today 1.81% to 95.5¢/Y100. Looks broke. 
    Gold plunged $20.9 (1.5%) to $1,334.10 as money was sucked away into the stock market. Silver backed off 13.4¢ (0.7%) to 2013¢. 
    Yes, gold dropped, but remains in the grip of a fiercely strong upwave. Could correct back to the 20 DMA ($1,317.70) but should not fall as far as the last low about $1,310. Market is handing y’all a low-priced GIFT. View the chart at http://schrts.co/Vbp2I8 
    Gold/silver ratio keeps dropping as silver continues to outpace gold. Silver is stumbling over its top channel line. Might fall to 1950¢, but buyers throng in droves around 2000¢. Correction will be shallow again. http://schrts.co/Hg7S2A 
    By the way, Platinum & Palladium are confirming silver & gold. 

    Y’all ought to pay attention: market is handing y’all free money with these lower gold & silver prices.

    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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