• The Gold Price Lost $5.80 Closing at $1,285.90

    28-Jan-15 Price Change % Change
    Gold Price, $/oz 1,285.90 -5.80 -0.45%
    Silver Price, $/oz 18.07 0.00 0.00%
    Gold/Silver Ratio 71.170 0.321 0.45%
    Silver/Gold Ratio 0.0141 -0.0001 -0.45%
    Platinum Price 1,257.60 -8.70 -0.69%
    Palladium Price 797.60 15.55 1.99%
    S&P 500 2,004.94 -24.60 -1.21%
    Dow 17,223.87 -163.34 -0.94%
    Dow in GOLD $s 276.89 -3.89 -1.39%
    Dow in GOLD oz 13.39 -0.19 -1.39%
    Dow in SILVER oz 953.28 -9.04 -0.94%
    US Dollar Index 94.76 0.50 0.53%

    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

    Oddly, silver closed unchanged at $18.068. While the GOLD PRICE lost 5.80 to $1,285.90.

    The GOLD PRICE simply continued the decline begun yesterday, which in fact began with the top on the 22nd. Day before yesterday was probably not the bottom of the correction, but I don’t expect it to go much further anyway, maybe as low as $1,255 – $1,260 support, maybe no lower than $1,270.00. Why do I think that? Because gold is in a power-move up to $1,350, and corrections in the middle of a power move usually are shallow. Heaven knows, I can be wrong, since I am no more than a nat’ral born durned fool from Tennessee.

    The SILVER PRICE closed unchanged. Flatlined most of the day in a range from $18.17 to $17.94. Little movement, little enthusiasm. Yesterday it fell as low as $17.41, which was near the neckline and near the 20 dma ($17.09). Might fall clean to that 20 DMA. Don’t want to see it fall below the neckline.

    Really I’m worrying about unprofitable nickels and dimes. Not enough distance here to wait for. Silver bought at $18.00 and gold bought at $1,285 will look dirt cheap a year from now.

    Another mouse burp FOMC announcement. More quasi-profound interpretation from more folks who never heard that it’s better to keep your mouth shut and be assumed a fool than to open your mouth & remove all doubt.

    Fed’s non-action helped stocks not at all. Dow dropped 163.34 (0.94%) to 17,223.87. The S&P500, which has been marginally outperforming the Dow, lost more today, 24.61 or 1.21% to 2,004.94.

    Getting technical, both the Dow & the S&P500 had built since December even-sided triangles. Today, both punched through the bottoms thereof. Other indicators I watch have turned negative, and volume rose briskly today, confirming the downwardness should abide.

    Dow in gold has progressed & consistently confirmed its downside breakdown from the Gator Jaws pattern. Today the DiG lost 0.65% to close at G$276.38 gold dollars (13.37 troy ounces). This takes it below both the 200 day moving average (G$281.55 or 13.62 oz.) and the uptrend line from August 2013. No whisper of a turnaround.

    Dow in Silver has not unfolded as much as the Dow in Gold, but sank another 1.28% today to $1,228.84 (950.43 oz). It rests right on the top channel line it threw over in September when silver was tanking. 200 DMA awaiteth at at $1,208.95 (935.05 oz).

    Day after day piles up confirmation that the trend of stocks against silver & gold has turned down, and the price trend for silver & gold up.

    US dollar index rose 50 basis points today (0.54%)at 94.76, but after falling 98 basis points yesterday. It has been left behind a toppy tower on the chart. Dollar may have seen it’s highs. Too early to say., but a close below 94 would be a hint.

    Just to keep in the back of y’all’s minds, Euro’s last low posted on 23 January its intraday low for the move at $1.11.66 & closed at $1.1266. Ended today down 81% from yesterday at $1.1287.

    Yen keeps stumbling & bumbling in an uptrend, & hath formed an even- sided triangle. Above the 20 & 50 DMA’s, presently intertwined. Set to climb.

    West Texas Intermediate Crude Oil lost 3.06% to $44.38/bbl. Intraday low at $44.08 made a double bottom today with 13 January’s $44.20. Not exciting but may be working on some kind of bottom.

    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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