• Gold Price UP $42 or 3.64% Silver Price UP $1.16 or 7.48%

    1-Dec-14 Price Change % Change
    Gold Price, $/oz 1,218.00 42.80 3.64%
    Silver Price, $/oz 16.65 1.16 7.48%
    Gold/Silver Ratio 73.162 -2.711 -3.57%
    Silver/Gold Ratio 0.0137 0.0005 3.71%
    Platinum Price 1,240.70 15.60 1.27%
    Palladium Price 808.10 5.50 0.69%
    S&P 500 2,053.44 -14.12 -0.68%
    Dow 17,776.80 -51.44 -0.29%
    Dow in GOLD $s 301.71 -11.89 -3.79%
    Dow in GOLD oz 14.60 -0.58 -3.79%
    Dow in SILVER oz 1,067.80 -83.22 -7.23%
    US Dollar Index 80.01 -0.40 -0.50%

    3 Day Gold Price Chart
    30 Day Gold Price Chart
    5 Year Gold Price Chart
    3 Day Silver Price Chart
    30 Day Silver Price Chart
    5 Year Silver Price Chart

    Last night I looked at midnight and the GOLD PRICE around $1,142, and silver was trading at $14.92 — Merciful heavens! Then I got up this morning and silver was already over $16. The GOLD PRICE ended today up $42.80 (3.6%) at $1,218 and silver up 115.9 cents (7.5%) at 1664.8. Gold came off a double bottom low and sliced clean through its 20 and 50 day moving averages! Silver barely missed closing above the 50 DMA, and both broke through established resistance that had stymied them for weeks (1650c and $1,205).

    I have never seen a first half key reversal quite like this. All silver and gold prices need tomorrow are closes above today’s.

    Clearly, there was massive support down below, enough to send silver and gold rocketing up. The SILVER PRICE rose double gold’s percentage rise.

    Oh, and the ranges! Silver’s low was $14.11 [sic] and gold’s 1141.70. Think about that, then look at those closes again.

    More, the US dollar index gave back its bogus gains from Friday and lost 40 basis points to 80.01.

    Of COURSE we need confirmation out of silver and gold, but the promise of this day is far, far higher prices.

    I had to take Susan to a doctor’s appointment in Nashville, it’s been a frog-strangling rain all day, and in 20 minutes I have a meeting, but I just have to write y’all about this spectacular day.

    Stocks seemed to turn down today, and probably did. S&P lost 14.12 (0.68%) to 2,052.44; Dow lost 51.44 (0.3%) to 17,776.8. Not too back, but small caps are in trouble. Looks like the peak is behind stocks.

    Dow and Gold and Dow in silver staged a definitive turnaround. Peaked to new highs Friday, then plunged today to new lows. Highs were double tops. Headed way lower.

    Shucks! I’ve gotten ahead of myself. On Friday OPEC announced it would not support the oil price, and oil nosedove, down 14% for the week. That spilled over into other markets on what was (remember) a very thin trading day. US dollar index made a marginal new high shile gold plunged, taking silver with it.

    Aurum et argentum comparenda sunt — — Gold and silver must be bought.

    – Franklin Sanders, The Moneychanger

    © 2014, 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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