• Gold Price Trades Back to the Breakout for a Final Kiss Good-Bye

    20-Oct-16 Price Change % Change
    Gold Price, $/oz 1,265.60 -2.30 -0.18%
    Silver Price, $/oz 17.50 -0.11 -0.65%
    Gold/Silver Ratio 72.312 0.337 0.47%
    Silver/Gold Ratio 0.0138 -0.0001 -0.47%
    Platinum Price 931.20 -8.90 -0.95%
    Palladium Price 631.80 -2.65 -0.42%
    S&P 500 2,141.34 -2.95 -0.14%
    Dow 18,162.35 -40.27 -0.22%
    Dow in GOLD $s 296.66 -0.12 -0.04%
    Dow in GOLD oz 14.35 -0.01 -0.04%
    Dow in SILVER oz 1,037.73 4.43 0.43%
    US Dollar Index 98.31 0.37 0.38%
    IMPORTANT NOTE: The following are wholesale, not retail, prices. To figure our retail selling price, multiply the “ask” price by 1.035. To figure our retail buying price, multiple the “bid” price by 0.97. Lower commissions apply to larger orders, higher commissions to very small orders.
    SPOT GOLD: 1,264.90      
    GOLD Fine Tr.Oz. BID ASK $/oz
    American Eagle 1.00 1,299.05 1,307.27 1,307.27
    1/2 AE 0.50 644.59 667.23 1,334.47
    1/4 AE 0.25 325.45 339.94 1,359.77
    1/10 AE 0.10 132.71 138.51 1,385.07
    Aust. 100 corona 0.98 1,232.42 1,241.42 1,266.49
    British sovereign 0.24 299.99 312.99 1,329.61
    French 20 franc 0.19 233.80 237.80 1,273.68
    Krugerrand 1.00 1,278.81 1,288.81 1,288.81
    Maple Leaf 1.00 1,274.90 1,288.90 1,288.90
    1/2 Maple Leaf 0.50 727.32 664.07 1,328.15
    1/4 Maple Leaf 0.25 322.55 338.36 1,353.44
    1/10 Maple Leaf 0.10 134.08 137.87 1,378.74
    Mexican 50 peso 1.21 1,515.81 1,526.81 1,266.33
    .9999 bar 1.00 1,269.33 1,276.90 1,276.90
    SPOT SILVER: 17.48      
    SILVER Fine Tr.Oz. BID ASK $/oz
    VG+ Morgan $B4 1905 0.77 25.00 27.00 35.29
    VG+ Peace dollar 0.77 20.00 22.00 28.76
    90% silver coin bags 0.72 13,141.70 13,427.70 18.78
    US 40% silver 1/2s 0.30 4,964.85 5,114.85 17.34
    100 oz .999 bar 100.00 1,728.00 1,763.00 17.63
    10 oz .999 bar 10.00 176.30 181.30 18.13
    1 oz .999 round 1.00 17.28 17.78 17.78
    Am Eagle, 200 oz Min 1.00 18.98 20.48 20.48
    SPOT PLATINUM: 931.20      
    PLATINUM Fine Tr.Oz. BID ASK $/oz
    Plat. Platypus 1.00 946.20 976.20 976.20
    Don’t y’all get caught up in little day to day moves. Step back & look harder.
    Yesterday silver and gold prices bettered their Tuesday breakouts. But alas! They fell back today. Does that mean the whole promise has been broken?
    Not hardly. Usually when markets break out (up or down), they trade back to the breakout for a final kiss good-bye. Offers the watchful a superb place to buy.
    The GOLD PRICE lost $2.30 (0.2%) today to $1,265.60. Comex SILVER PRICE lost 11.4¢ (0.7%) to 1750.2¢.
    Here’s a gold chart, http://schrts.co/pbxEDM
    Gold poked through the 200 day moving average yesterday (yeah!), then kissed back to it today. Meanwhile rate of change is straight up and MACD has turned unequivocally positive.
    Silver chart’s right here, http://schrts.co/o96FnV
    The SILVER PRICE  followed a similar pattern. Broke out of triangle Tuesday, advanced yesterday, dropped back to breakout line today. So where are we? With a rally beginning, PROVIDED silver & gold keep rising again.
    Here’s more evidence of strong physical demand. The cheap small gold coins I’ve been begging y’all to buy have plumb disappeared from the market, and most low premium gold coins are hard to locate. (Add this to what I told y’all earlier about the rising US 90% silver coins premium and rising gold coin premiums.) And this is happening suddenly.
    Y’all don’t reckon the sight of those two teenagers swapping insults on TV last night is panicking folks into buying gold, do you?
    Not gonna waste time talking about stocks. They are trending down and without closes above 18,350 or 2170, downtrend will continue marching toward the cliff, and at last reach it.
    US Dollar index chart is here. Hold your nose & look at it, http://schrts.co/0hC4w1
    It has now risen past the July intraday high (97.62) & closed today above that at 98.31, having gained 37 basis points today (0.38%). Remains a bit iffy until it pulls past this new high, but assumption is it will continue higher. Odd, today’s fairly meaty rise did not cause a big bruise on gold & silver.
    Keep watching the bond markets for a Big Bang. 10 year treasury yield fell a little today, but stands above its 200 DMA. http://schrts.co/vUJO4G
    Bottom line: SILVER & GOLD have a good sprout on a rally, but that sprout has to grow. Stocks are waiting for catastrophe. Can the Fed allow the dollar to keep climbing? I wonder. Sweat, Janet, sweat!
    I hope y’all won’t mind my sharing one more little Susan story. I said in her eulogy that she “adored planning parties & celebrations. She taught us to rejoice. Love made her play on purpose, just as she controlled everything else about herself on purpose.”
    First Christmas we were married we spent Christmas Eve with Susan’s parents. She woke up as dawn cracked and danced downstairs like a six-year old . I clumped downstairs swollen and sullen with sleep. Susan was dancing around the tree, pulling out presents to show me. Clearly, I did not share her enthusiasm. She didn’t like that. Finally she took a deep breath and searched for the worst name she could call me: “You’re just a . . . mean, grumpy old person!” I deserved it.
    A friend who is also widowed reminded me that his late wife (and our friend) often quoted C.S. Lewis’ line: “Joy is the serious business of heaven.”
    Joy, dear friends, is serious business, and y’all better get serious about it.
    Now some of y’all will read than and it will roll off like water off a duck’s back, because you are too busy for joy. Others will see, & taste, & drink, & begin to understand why the most serious souls are also the very merriest.

    Argentum et aurum comparanda sunt —
    Silver and gold must be bought.
    — Franklin Sanders, The Moneychanger

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