• Comex Gold Price Closed $13.30 Lower at $1,279.40

    26-Jan-15 Price Change % Change
    Gold Price, $/oz 1,279.40 -13.30 -1.03%
    Silver Price, $/oz 17.97 -0.32 -1.73%
    Gold/Silver Ratio 71.208 0.507 0.72%
    Silver/Gold Ratio 0.0140 -0.0001 -0.71%
    Platinum Price 1,254.70 -13.30 -1.05%
    Palladium Price 783.15 7.75 1.00%
    S&P 500 2,057.09 5.27 0.26%
    Dow 17,678.70 6.10 0.03%
    Dow in GOLD $s 285.64 3.04 1.07%
    Dow in GOLD oz 13.82 0.15 1.07%
    Dow in SILVER oz 983.95 17.39 1.80%
    US Dollar Index 95.24 0.00 0.00%

    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

    Damage to the GOLD PRICE hit mostly before the US opened, around 3:30 a.m. eastern time. by 8:30 a.m. gold had fallen from $1,292 to $1,276.30. Tried to recover, but could only reach $1,287 about 10:30, then fell & stumbled back to $1,276.30. Comex GOLD PRICE closed $13.30 lower at $1,279.40.

    Whoa! Why those long faces? I believe I warned y’all some little correction was coming, so gold could step back and take another run at $1,300 resistance. This correction will probably amount to no more than a minnow-move, maybe falling as low as $1,255.60 support, or maybe to the 200 DMA just pennies below. May have to pass a week doing this.

    No surprise, same thugs hit the SILVER PRICE over the head at 3:30 a.m., knocking it from $18.22 down to $17.87 by 8:30 a.m. Silver managed no more than a rise to $18.15, then fell straight down to $17.90 about 11:45. Rest of the day was listless, and closed Comex down 31.7 cents at $17.967.

    Tomorrow silver hits the short term uptrend line about $17.60. Below that $17.50 offers support. 20 DMA awaits allow at $16.89.

    For now all I expect is a shallow correction. Y’all get ready to buy silver & gold soon.

    Maybe it was the blizzard in the US Northeast, or maybe lethargy, but markets moved very little today. After the Greeks elected the socialist party committed to re-negotiating some of the bailout terms, nothing happened. Not even a mouse burped. The German stock index Dax rose 1.4%, the French index CAC rose 0.74%, & London’s FTSE added 0.29%. Yawn. In the USofA the Dow millimetered up 6.1 (0.03%) to 17,678.70 while the S&P500 half-inched up 5.27 (0.26%) to 2,057.09.

    Lower metals today sent the Dow in Gold & Dow in Silver up. Dow in gold augmented 1.18% to G$285.68 gold dollars (13.82 troy ounces), above the 200 DMA and slightly above the post-August 2013 uptrend line. Still outside & beneath the Gator Jaws

    1.94% rose the Dow in Silver, to S$1,271.05 silver dollars (983.08 oz).

    Speaking of dead markets, the US dollar index literally flatlined. Unchanged. Hideously overbought (81.76 on the RSI when 70 is overbought), you have to expect it to correct soon. Euro gained 0.12% to $1.1241, probably on its way to par with the dollar. Yen couched up 0.7% today to drop to 84.39, yet it remains above its 20 & 50 DMAs in its limping, hobbling uptrend.

    I won’t be publishing a commentary tomorrow because I have to finish up my monthly Moneychanger newsletter for paid subscribers.

    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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