• Silver Price Broke its Downtrend Line Rising 3.57%

    13-Jan-15 Price Change % Change
    Gold Price, $/oz 1,234.30 1.60 0.13%
    Silver Price, $/oz 17.13 0.59 3.57%
    Gold/Silver Ratio 72.076 -2.475 -3.32%
    Silver/Gold Ratio 0.0139 0.0005 3.43%
    Platinum Price 1,247.40 7.00 0.56%
    Palladium Price 815.20 -1.60 -0.20%
    S&P 500 2,044.81 -17.33 -0.84%
    Dow 17,613.68 -27.16 -0.15%
    Dow in GOLD $s 294.99 -0.84 -0.28%
    Dow in GOLD oz 14.27 -0.04 -0.28%
    Dow in SILVER oz 1,028.54 -38.34 -3.59%
    US Dollar Index 92.46 0.23 0.25%

    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 reached a high today of $1,244.50 but could not hold on there. High came about 4:00 a.m. before New York opened, then gold was higher but flat, then fell off about 2:00 p.m. and ended the day only $1.60 higher at $1,234.30 I believe I remember telling y’all gold might need more than one try to clear the neckline of that upside down head and shoulders, now about $1,235.30. It ended below that neckline.

    Silver Price

    But the SILVER PRICE! Rose 59 cents to close Comex at $17.125, up 3.7%. It broke through the downtrend line of the diamond reversal (see chart on the right) and ran to the downtrend line from the August 2013 high. Great performance for the day, closed near the high ($17.22). Yes, yes, silver needs further confirmation: a close over $17.50, a close over $18.60. Yes, but that will come.

    Gold/Silver Ratio

    But I want y’all to look, just look, at that GOLD/SILVER RATIO chart on the left, From 74.551 yesterday it fell to 72.076 today, gapping down out of the diamond reversal pattern, falling, falling, falling. Stirring news, fabulous news for gold and silver. It promises that we have seen the metals’ lows and dodged the dum-dum bullet of another trip to 84:1.

    Friends, y’all have to buy the breakouts.

    Susan is going to skin me unless I get home in time for dinner tonight. Six of our seven grown children are coming for supper, so I have to make it fast.

    Stocks looked terrible today. Early in the day the Dow had rallied 282, but it just wilted across the day, gave back all the gains before 2:00, then closed 27.16 (0.15%) LOWER at 17,613.68. Lo, the S&P500 held its hand, losing 5.23 (0.26%) to 2,023.03. Very weak showing.

    Dow in silver plunged 2.96% today to S$1,332.54 silver dollars (1,030.64 oz), S$40.62 lower. Broke through an internal resistance line I had been watching. Dow in silver and Dow in gold will slide further.

    US dollar index ended the day 23 basis points (0.25%) higher at 92.46. At one point today stocks, the dollar index, AND gold and silver were all romping higher. Euro is puking sick, down 0.49% to $1.1775. Yen really is rallying, climbed over its 50 dma today, and rose 0.38% to 84.83.

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

    – Franklin Sanders, The Moneychanger

    © 2015, 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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