• The Gold Price Rose $4.60 to Close on the Comex at $1,194.70

    8-Dec-14 Price Change % Change
    Gold Price, $/oz 1,194.70 4.60 0.39%
    Silver Price, $/oz 16.22 0.02 0.12%
    Gold/Silver Ratio 73.674 0.193 0.26%
    Silver/Gold Ratio 0.0136 -0.0000 -0.26%
    Platinum Price 1,228.40 9.90 0.81%
    Palladium Price 798.80 -4.90 -0.61%
    S&P 500 2,075.37 -15.06 -0.72%
    Dow 17,852.48 -106.21 -0.59%
    Dow in GOLD $s 308.90 -3.04 -0.97%
    Dow in GOLD oz 14.94 -0.15 -0.97%
    Dow in SILVER oz 1,100.92 -7.92 -0.71%
    US Dollar Index 89.16 -0.21 -0.23%

    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 rose $4.60 to close Comex at $1,194.70; silver rose 2 cents to $16.216. Yet in the aftermarket Gold rose as high as $1,209.30 and silver to $16.44. Gold inched up and broke $1,195 about 3:30 p.m., then just shot straight up, cleared resistance at $1,205 and ran to $1,209. That perch was just too slippery, though, and the GOLD PRICE fell back. Silver jerked a knee, but showed no such enthusiasm. Both ended Comex above their 20 DMAs.

    Tomorrow the SILVER PRICE needs to climb through its downtrend line at $16.59. The gold price is also nestled right under its downtrend line at $1,210. If they can break those barriers, they can launch a rally.

    THEY REMEMBER NOTHING and THEY LEARN NOTHING DEPARTMENT. Fannie Mae and Freddie Mac, the government agencies created to subsidize the mortgage and housing industries at taxpayer expense, a major cause contributing to the Housing Bubble and Bust, and presently flat busted, announced today a plan to allow first time homeowners to obtain a mortgage using only a paper-thin 3% down payment.

    As I survey America — never mind any moral survey, let’s just limit it to the economy — I realize that no one can deny that all the adults have left Washington and the teeny-weeny minds who are there should not be given any duty more responsible than tuning a radio.

    Stocks have thrice flashed Hindenburg Omens, technical indicators that a crash loometh. Last time that came before the October plunge.

    Oil hit a five year low today, and will probably fall further.

    Dow skidded 106.21 today, down 6/10%, and stopped at 17,852.48. S&P500 fell a little further, 15.06 or 0.73%, to 2,060.31.

    I say nothing of the look of rolling over the Dow gives, but will not resist noting its propinquity to the 20 DMA at 17,762.39. A drop the size of today’s would suck the Dow down under that. S&P500 punched into its 20 DMA today (2,056.61), but closed barely above it.

    A specter is haunting Wall Street.

    Behold, how the Dow in Gold and Dow in Silver enlighten us! Dow in silver punched barely into the 20 DMA above it on Friday, but today bounded downward yet again, down 1.14% to S$1,409.59 silver dollars (1,090.23 oz). Back of the upmove is broken, and the DiS has formed a broadening top or megaphone. Tomorrow that megaphone’s bottom boundary is about S$1,358.87 (1,051 oz).

    Dow in Gold followed the DIS by closing again below the 20dma (GS309.04 gold dollars or 14.95 oz) today. It lost 1.51% to G$306.56 (14.83 oz). Also in a megaphone. Bottom boundary tomorrow stands at G$300.77 (14.55 oz).

    US dollar index has traded up into a really fine rising wedge, which winks, blinks, and nods that the next big move will invoke gravity and not levitation. Fall though 88.17 starts the plunge — that’s the 20 DMA and the lower wedge boundary coinciding.

    Euro’s wedge is the mirror image of the dollar index, that is, if you held the mirror upside down, because the wedge is pointing downward. Those usually end by breaking out skyward.

    Japanese yen rose 0.7% today to 82.88 cents/Y100 (Y120.66=US$1), but will likely not recover in our lifetime.

    Tomorrow the US Senate Select Committee on Intelligence will release its report on US torture. Jack Bauer will be disappointed since the report shows that all the barbaric cruelty didn’t work. However, I hope somebody in Washington keeps a copy of the report for the day the war crimes trials begin. Whoops! I forgot. In America nobody in charge in government or corporations every has to pay for his crimes. That’s only for foreigners and us little people.

    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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