• The Gold Price Closed at $1,199.20

    2-Dec-14 Price Change % Change
    Gold Price, $/oz 1,199.20 -18.80 -1.54%
    Silver Price, $/oz 16.41 -0.24 -1.44%
    Gold/Silver Ratio 73.162 -0.073 -0.10%
    Silver/Gold Ratio 0.0137 0.0000 0.10%
    Platinum Price 1,216.40 -24.10 -1.94%
    Palladium Price 801.35 -5.05 -0.63%
    S&P 500 2,053.44 -14.12 -0.68%
    Dow 17,879.55 102.75 0.58%
    Dow in GOLD $s 303.45 6.33 2.13%
    Dow in GOLD oz 14.68 0.31 2.13%
    Dow in SILVER oz 1,073.98 21.35 2.03%
    US Dollar Index 88.68 0.67 0.76%

    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

    The GOLD PRICE ducked back beneath $1,205 support, losing $18.80 to $1,199.20. Silver gave back 24 cents and bent below $16.60.

    Why ain’t that so bad? Because it undoeth not yesterday’s wondrous work.

    The GOLD PRICE chart shows two bottoms at $1,130.40 and $1,141.70. Yesterday’s range was enormous, and the reversal was unequivocal and unambiguous. Yes, yes, today the gold price gave back some of that gain, but that’s all right. It remained well above its 20 DMA and only slightly below its 50 DMA with that double bottom for good footing, is now ready to pull on its seven league boots. Yesterday we may have seen the final low of the long correction.

    After a bone-jarring fall to $14.15 the SILVER PRICE in the same day silver rocketed back to $16.65. On high volume. With indicators fueling it upward.

    I expect we’ll have to spend a long time backing and filling next year, but here in the next three weeks silver and gold should rally strongly– very strongly.

    I know I was burbling and warbling yesterday, but considering the kidney stone grade pain of the last three years and more, bear with me.

    Behold, the Dark Side of the Force struck back today. US Dollar index, still constrained within a chart pattern that could be either a top or continuation, made an eentsy marginal new high. Dow surged 102.75 to a new high on more fake news from the fake economy. Greed and Lies have met together, Stupidity and Gullibility have kissed each other. More Lies shall spring out of Washington, and Greed shall look down smugly from the skyscrapers.

    It’s nuts.

    Okay, things bounced around today, like you snuggling down in your seat before you start the car, but nothing changed. Yesterday’s silver and gold price performance remains spectacular, and promiseth yet more spectacular things.

    Dow reached 17,789.55, up 102.75 (0.58$%) but the S&P500 didn’t make a new high, rising 13.11 (0.64% to 2,066.55. Non-confirmation: S&P500 looks to be rolling over, and isn’t far above its 20 DMA.

    Dow in Gold

    Dow measured in metals tastes so sweet in my mouth I have to share the pictures with y’all, charts on the right:

    Dow in Gold rose 1.74% today, mostly thanks to the Dow’s strength, and ended at G$308.63 gold dollars (14.93 troy ounces). When you look at the chart note the double tops at 15.38 and 15.29, then yesterday’s close at 14.68 for a lower low, and its abiding position beneath the 20 DMA (green line). it’s a picture of a market that has topped, and it would have to break that double top to gainsay that.

    Dow in Silver

    Dow in Silver rose 0.55% to S$1,404.00 silver dollars (1,085.91 oz). Here is a similar pattern, with double tops at 1,143.15 and 1,153.56 and yesterdays collapse beneath the 20 DMA. Indicators al point down.

    We won’t get final confirmation that silver and gold have turned up, and stocks have turned down against them, until we see closes below the 200 day moving averages, but this looks like the real thing. That implies stocks should stumble very soon.

    US Dollar index closed at 88.68, up 67 and at the top of the pattern. There’s a snapshot here, http://scharts.co/1yeqYSz Dollar index has loafed in this pattern for some time, and time ain’t on anybody’s side, and don’t you mind what the song says otherwise. A break below 87.50 turns the dollar index down. If it breaks out skyward, it could reach 93.5. Never underestimate the gullibility of investors in Fiat-Money-World.

    Yen kept sinking, down 0.75% to 83.88. No news there — rain is wet. Euro fell back from the top of an even sided triangle to its bottom boundary. Just can’t build escape velocity. Lost 0.72% to $1.2381.

    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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