• Gold Prices Traded in the Same Range as Yesterday Closing Down $4.70 at $1,195.90

    5-Mar-15 Price Change % Change
    Gold Price, $/oz 1,195.90 -4.70 -0.39%
    Silver Price, $/oz 16.13 0.00 0.00%
    Gold/Silver Ratio 74.132 -0.291 -0.39%
    Silver/Gold Ratio 0.0135 0.0001 0.39%
    Platinum Price 1,182.20 -6.60 -0.56%
    Palladium Price 825.00 6.75 0.82%
    S&P 500 2,101.40 2.51 0.12%
    Dow 18,135.72 38.83 0.21%
    Dow in GOLD $s 313.49 1.90 0.61%
    Dow in GOLD oz 15.16 0.09 0.61%
    Dow in SILVER oz 1,124.21 2.41 0.21%
    US Dollar Index 95.99 0.54 0.57%

    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

    Silver & GOLD PRICES traded in virtually the same range as yesterday. Comex gold lost $4.70 (0.4%) to $1,195.90. The SILVER PRICE closed unchanged at 1613.2 cents. Unchanged — don’t know why but an “unchanged” always makes me flinch. May be just my superstition, but in my mind an unchanged day is often followed by a big move, one way or th’other.

    Silver and GOLD PRICES can break out of this range only by closing over $1,225 & $16.80, or by falling through $1,190 & $16.00. Noticeable is their refusal to fall even in the face of their weakness. That hints of buyers lurking at lower prices, and close by.

    Gold Silver Ratio

    Finally, if silver & gold prices want to break down, why does that GOLD/SILVER RATIO fail to move higher? Y’all look for yourselves on the right, How many times has the ratio validated that downtrend line? But it does stand above its intertwined 20 & 50 DMAs, so momentum is upward.

    Hot ziggety! I am so grateful for global warming! If ’tweren’t for global warming, we’d all be froze stiff as a pike for sure. Susan & I are iced in again today. Ain’t safe hardly to walk outside, much less drive. Not that I could drive up these hills anyway, not with an 8-wheel drive vehicle.

    Stocks remain in full retreat, tho they rose a leetle today. Dow scratched up 38.82 (0.21%); S&P500 eked up 2.51 (0.12%) to 2,101.40. Direction is down, down. Dow in Silver & Dow in Gold jiggled up a bit, but nothing to amount to anything.

    Big story today was the US dollar index. Jumped up 54 basis points (0.56%) to 95.99. This marks a double top with January’s 95.85 high. Most likely that’s the end of the move, but it could extend I suppose. It’s hard for me to follow the dollar index, since my sympathies, judgement, & morality all find it loathsome, but then, I feel the same about all fiat currencies.

    Back to the point: this would be a prime place for the dollar index to fall hard. The euro, a kind of mirror image of the US dollar, fell 0.51% to a new low (I might as well tape-record that statement & play it back every day to save myself the trouble of saying it again) at $1.1025. Yen fell 0.39% to 83.23, but remains locked in that same range. No move yet.

    Several of y’all asked who was the person I had been reading who shed new light on the monetary question? Fellow named Keith Weiner. You can read two devastating and devastatingly logical articles. “Falling Interest Rates Destroy Capital” is found at http://bit.ly/1DQMPCm. Other is “The Swiss Franc Will Collapse” at http://bit.ly/1Ekb5lr. Neither of these contains any recipe forcentral banker joy.

    I have to run build a fire. I’m about to lock up and freeze solid!

    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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