• The Gold Price Held On and Only Lost $3.40 Closing at $1,273


    Gold Price Close Today : 1,273.20
    Change : -3.40 or -0.27%

    Silver Price Close Today : 21.19
    Change : -0.16 or -0.76%

    Gold Silver Ratio Today : 60.08
    Change : 0.30 or 0.50%

    The GOLD PRICE held on and by Comex close had lost only $3.40 to $1,273.00. The SILVER PRICE lost 16.4 cents to 2114.6. But what catches the eye is the aftermarket where the GOLD PRICE is nearly ten bucks higher at $1,281.70 & silver 20 cents higher at 2135c.

    I know it sounds like a cheap answer, but all the same I have to suspect the NGM are working overtime to suppress silver & gold prices. Let that go, though. Both are pointing down, and if they break those levels I mentioned yesterday, $1,272 & 2090 cents, they’ll tumble sharply for one last leg down. Odd, if they are as weak as all the pointy-toed Wall Street experts claim, that they haven’t broken down before now. But what do I know?

    I’ve been bloodied before by these seasons of low prices & corrections, so I know that all a man can do is wait. None of the causes have changed, so the outcome will be silver & gold at WAY higher prices.

    For y’all who still believe I am a raving lunatic, something instructive happened this past weekend. A glitch in the yankee government’s food stamp computer (food stamps are no longer stamps, but cards like debit cards called EBT) gave buyers unlimited credit. While the glitch lasted, EBT shoppers in Louisiana went wild, stripping the Wal-Mart shelves & charging the goods to their EBT cards. When after two hours the glitch was fixed, those who had not yet checked out with their loot just abandoned full baskets in line and walked away.

    Now ask yourself: what if the situation had been less calm? What if the EBT cards no longer worked at all? The incident witnesses that the veneer of civilization in the US is razor thin, liable to crack under any pressure.

    With no pleasure but with sharp grief I point this out, just as I keep pointing to the certainty that the government will default, either outright or by inflation. Y’all have two choices: Shake your head, stifle the evidence, & say that will never happen here, or look the facts in the eyes and take appropriate protective action.

    Stocks took a bad turn today. Having yesterday & the day before pierced their 20 & 50 day moving averages, their upward momentum ought to have waxed stronger. Instead, it disappeared today. S&P500 merely fell back to its 20 DMA, but the Dow fell through its 50 & 20 DMAs.

    The entire stock market advance since last November has been puffed up by clouds of newly created money — Quantitative Easing. That has spawned a false & unsustainable rally. It could drag on into next year, but when it collapses, ’twill be sudden.

    Dow in gold & Dow in silver both turned down today, but remain above their 20 & 50 DMAs. Momentum remains upward.

    Thanks be to God, my son Justin & his wife Ellen were blessed with a baby today, Henry. Please pray for her rapid recovery.

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

    – Franklin Sanders, The Moneychanger

    © 2013, 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. 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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