• The Silver and Gold Price Remain in a Primary Uptrend and have Another 5 – 10 Years to Rise


    Gold Price Close Today : 1700.30
    Change : 7.90 or 0.47%

    Silver Price Close Today : 33.039
    Change : 0.156 or 0.47%

    Gold Silver Ratio Today : 51.463
    Change : -0.004 or -0.01%

    Silver Gold Ratio Today : 0.01943
    Change : 0.000001 or 0.01%

    Platinum Price Close Today : 1599.20
    Change : 16.50 or 1.04%

    Palladium Price Close Today : 695.55
    Change : 9.60 or 1.40%

    S&P 500 : 1,413.94
    Change : 4.66 or 0.33%

    Dow In GOLD$ : $158.96
    Change : $ (0.24) or -0.15%

    Dow in GOLD oz : 7.690
    Change : -0.012 or -0.15%

    Dow in SILVER oz : 395.74
    Change : -0.67 or -0.17%

    Dow Industrial : 13,074.74
    Change : 39.55 or 0.30%

    US Dollar Index : 80.23
    Change : 0.404 or 0.51%

    The GOLD PRICE recovered $7.90 today to close Comex at $1,700.30. Silver gained 15.6 cents to end at 3303.9c.

    Both the silver and GOLD PRICE today posted lows about equal to yesterday’s: 3252.8 and $1,685.90. That MIGHT be a double bottom, but only if they make good that threat by rising again tomorrow.

    Gold’s close was cosmetically thrilling — above $1,700 — but technically meaningless, falling short of $1,705 resistance. I would wax more enthusiastic if gold touched first off its 200 DMA (1,665) or 150 DMA (1,662).

    The SILVER PRICE continues more photogenic than gold, and is only pennies blow its 20 DMA (3311c) and 50 DMA (3310c). Again, like talking to a man without driver’s license or name tag, we’d like some more substantial proof that silver won’t disappoint us again. Closing above 3320 tomorrow would help, as would gold respectably above $1,705.

    Then we can worry and vex ourselves about something else.

    Keep thine eyes on the prize! Silver and gold remain in a primary uptrend, and have another 5 – 10 years to rise. Next rally up in both metals began in August, and you are just now witnessing the last of the correction off that rally. Whether it begins this month or next, look for another big rally, one of those 1-1/2 to two year ones.

    Once again, in spite of the US dollar index rising 40.4 basis points (0.52%) and above 80 resistance, silver and gold rose. Dollar did nothing more that rise to the resistance line it had fallen through in the past two days. Next move down ought to be meaty.

    Euro hit that overhead downtrend line and fell back like Vlad Dracula meeting a silver crucifix. Gold in euros had fallen to its 200 day moving average, through a bit, and today shot back above it. Should move higher — gold, that is, not the euro.

    Yen rose a little nothing today, to 121.35c/Y100. No big upside happening here any time soon.

    STOCKS proved incompetent once more day to close above 13,080. Dow rose 39.55 (0.3%) to 13,074.74, while the S&P500 trailed right along beside, up 0.33% (4.66) to 1,413.94.

    Stocks are stuck, but will most likely rise further into year end — not that such a prospect induces me to own them.

    Argentum et aurum comparenda sunt — — Gold and silver must be bought.

    – Franklin Sanders, The Moneychanger
    10:00am-5:00pm CST, Monday-Friday

    © 2012, 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 $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or 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. No, I don’t.

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