• The Gold Price Jumped $26.90 to $1,777.60 Silver also Rose Correction Still Likely


    Gold Price Close Today : 1777.60
    Change : 26.90 or 1.54%

    Silver Price Close Today : 34.595
    Change : 0.718 or 2.12%

    Gold Silver Ratio Today : 51.383
    Change : -0.295 or -0.57%

    Silver Gold Ratio Today : 0.01946
    Change : 0.000111 or 0.57%

    Platinum Price Close Today : 1645.90
    Change : 11.50 or 0.70%

    Palladium Price Close Today : 634.25
    Change : 9.55 or 1.53%

    S&P 500 : 1,446.64
    Change : 13.32 or 0.93%

    Dow In GOLD$ : $156.78
    Change : $ (1.59) or -1.00%

    Dow in GOLD oz : 7.584
    Change : -0.077 or -1.00%

    Dow in SILVER oz : 389.69
    Change : -6.26 or -1.58%

    Dow Industrial : 13,481.40
    Change : 67.89 or 0.51%

    US Dollar Index : 79.55
    Change : -0.269 or -0.34%

    The Moneychanger had to take his wife to the heart doctor today where she got an A++ report. He sends this message about today’s markets:

    The silver and GOLD PRICE pulled on their 7 league boots today. The SILVER PRICE jumped 71.8 cents to 3,459.5c and Gold jumped $26.90 to $1,777.60. Jubilate moderately, y’all. Gold slammed into $1,780 resistance once again bloodying heads against the wall. Silver didn’t quite reach 3500c.

    Today’s action in gold looks like a corrective wave. In very strong markets this B wave of a correction reaches as high as the previous high and sometimes higher before falling off again. Be careful. Jubilate moderately.

    U.S. index hit a solid wall at 80 and oozed down. Lost 26.9 basis points today to 79.552. The Dollar is going nowhere, but it’s loss sent jubilation into stocks and gold. DOW gained 67.89 to 13,481.4, S&P 500 gained 13.32 to 1,446.64. Stocks look no better today than they did yesterday.

    The Moneychanger will return tommorow, God willing.

    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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