• The Gold Price Lost $8.40 Today to Close at $1,199.70

    18-Feb-15 Price Change % Change
    Gold Price, $/oz 1,199.70 -8.40 -0.70%
    Silver Price, $/oz 16.25 -0.11 -0.68%
    Gold/Silver Ratio 73.828 -0.008 -0.01%
    Silver/Gold Ratio 0.0135 0.0000 0.01%
    Platinum Price 1,170.20 -9.80 -0.83%
    Palladium Price 776.90 -6.65 -0.85%
    S&P 500 2,099.68 0.66 0.03%
    Dow 18,029.85 17.73 0.10%
    Dow in GOLD $s 310.67 2.46 0.80%
    Dow in GOLD oz 15.03 0.12 0.80%
    Dow in SILVER oz 1,109.53 8.68 0.79%
    US Dollar Index 94.11 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

    Somebody got out his government-issue paint today & got busy painting the tape. The GOLD PRICE lost $8.40 (-0.7%) to a demoralizing below-$1,200 close at $1,199.70. Yet the paint wouldn’t stick. In the aftermarket gold rose to $1,210.30.

    The SILVER PRICE coughed up 11.2c (-0.68%) to close Comex at $16.25. In the aftermarket it rose slap back to and past yesterday’s aftermarket, namely, $16.445.

    Behold, what bewitching patterns they leave behind on a painted tape day! The GOLD PRICE, for instance, laid down the first day of a key reversal by trading into new low territory for the move, then closing higher (remember, I’m looking at an End of Day chart, not painted up Comex). The low today at $1,197.20 brought gold whisker close to the since-November uptrend line at $1,195, but even that was enough to slap its jaws & turn it around. Another higher close tomorrow clinches a key reversal. Lo, some indicators are also trying to turn their noses toward the moon, too.

    Ever more volatile silver closed below that uptrend line yesterday & stayed there today. Huh? Wonder why it didn’t follow thru downside after it punched through that uptrend? Way-ull, silver IS more volatile than gold, and prone to treat those support and resistance and trend lines no better than a teenage prom queen treats her many beaus — without any respect.

    But look here. That falling wedge of silver’s is still a-working, & it hit the bottom boundary today and stopped. Bottom Bollinger band is at $16.15. It’s time to be buying it, not running away.

    The FOMC January minutes released today didn’t even rise to a mouse-burp. Maybe only a rumble in a roach’s rumen. In this “good-cop/bad-cop” game they play to keep the jaws of the credulous hanging open, one month they are going to raise interest rates, the next month no, not yet. Mercy, nobody catches on the criminals haven’t a clue what they will do, nor when they will do it. More than that, if they ever declare when they are going to raise rates, it’s liable to spook a stampede out of bonds that would look worse than September 2008. They’re trapped as a weasel in a pipe.

    Did I mention lately that all the deflation talk from central bank criminals world wide is pure-D hogwash? Ranks right up there with the Easter Bunny, Santa Claus, Big Foot, and Global Warming/Climate Change. Not a trace of it on the whole face of the earthball. Ne’er a one.

    So next time you hear some CB criminal or politician intoning pompously about “deflation,” you may draw either of two conclusions: 1, he is lying, or 2, he is ignorant as a horned toad.

    Oddest thing happened today, again. The US dollar index closed unchanged. That’s odd enough in itself, but it comes two days after the dollar index closed unchanged on 13 February 2013. Not normal, friends.

    Dollar index began the day below its 20 Dma (94.49) and stayed there. Tried one to poke through the 20 DMA and failed. Technically it is trending lower, with lower lows and lower highs. Indicators show gravity has control.

    Euro lost 0.8% to end at $1.1404. The great ECB QE program that was going to save Europe for the corporations hasn’t helped or hurt the euro much. It remains unconscious. It is trading lackadaisically out into the nose of an even sided triangle, so has a tee-tiny uptrend running, but just can’t find any mojo.

    Yen can’t find any direction, other than sideways. Gained 0.46% today to close at 83.76 cents/Y100. Range trading like a Galapagos Island tortoise in a steamed-up hurry.

    Stocks wanted to drop today, but rose toward day’s end. Dow still lost 17.73 (0.1%) to 18,029.85. S&P500, beginning to specialize in wee moves, lost 0.66 (0.03%) to 2,099.68. Dow in Gold & Dow in silver both hooked down slightly, not enough to change anything.

    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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