• Gold Price Chart from Mid-March Till Now Shows a Nice Steep Uptrend

    8-Apr-15 Price Change % Change
    Gold Price, $/oz 1,203.10 -7.50 -0.62%
    Silver Price, $/oz 16.44 -0.39 -2.29%
    Gold/Silver Ratio 73.181 1.229 1.71%
    Silver/Gold Ratio 0.0137 -0.0002 -1.68%
    Platinum Price 1,165.50 -7.80 -0.66%
    Palladium Price 755.40 -13.30 -1.73%
    S&P 500 2,081.90 5.57 0.27%
    Dow 17,902.51 27.09 0.15%
    Dow in GOLD $s 307.60 2.37 0.78%
    Dow in GOLD oz 14.88 0.11 0.78%
    Dow in SILVER oz 1,088.96 26.53 2.50%
    US Dollar Index 98.28 0.22 0.22%

    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

    ‘Twas not a good day for silver & GOLD PRICES. Gold misplaced $7.50 (0.6%) somewhere to end Comex at $1,203.10. Silver gave away 38.5 cents for a $16.44 close, down 2.3% .

    SILVER flatlined above $16.75 until about 12:15 eastern time when it dropped 20 cents in a few minutes. Traded as low as $16.41. Ended the day on its 20 DMA $16.44.

    Wouldn’t everybody be surprised tomorrow if silver jumped up to $17.25? I kept staring at the chart & realized that silver has traced out a bullish flag pattern. Unless it closes below today’s $16.41 low & invalidates that pattern, it foretells an upside breakout. Unhappily, silver’s other indicators seem to be nixing that idea.

    The GOLD PRICE daily chart steadily eroded from 8:00 a.m. without much relief. Made a little V-bottom about 4:00 p.m., but nothing spectacular.

    Gold Price March Uptrend

    Day before yesterday Gold hit its 2-sigma Bollinger Band & turned down, & indicators look rotten, but I step back & look at that chart from mid-March till now and it shows a nice steep uptrend.

    Let’s see what happens tomorrow when the haze of those FOMC meeting minutes clears away.

    Gold/Silver Ratio

    What I don’t like the most is the GOLD/SILVER RATIO that jumped up to 73.181 today. On the chart it o’erleapt the 20 & 50 DMAs & left a gap behind. That I don’t like. Chart on the right.

    Two of my sons were spraying sugar and fish emulsion on our pastures & somehow my wife Susan squeezed in there & wound up driving the sprayer truck. Then they all come in to my office for a meeting. Imagine somebody soaking his clothes a couple of days in that oil you pour off a can of sardines. That is what it still smells like.

    I’m not sure, but I believe I saw a buzzard tailing that truck Susan was driving.

    Today smelt a lot the same way, fishy. FOMC — Federal Organism for Monetary Crimes — minutes were published today, let us all fall down and worship. At least, some fell down and worshipped — rest of us yawned. Minutes said nothing, but said it both ways. Didn’t move markets much, just confused ’em a little more.

    US dollar index rose another 22 basis points (0.22% to 98.28. Chart remains in a downtrend with equivocal indicators. In today’s insane world driven by carry-trading gamblers, anything could happen.

    Euro fell 0.3% to $1.0782. It has formed a kind of flat topped rising triangle, which usually breaks out upward, but it’s the durned laziest thing I ever saw. If it falls out of this triangle it’ll spend another six months sick & puking.

    Japanese yen rose 0.17% to 83.26, flat as a fritter, which itself raises suspicions. Nobody in the world interested in trading yen?

    Stocks traded up, they traded down, they traded all around & did nothing much profound. Dow rose 0.15% (27.09 points) to 17,902.51. Hot zig, be still my beating heart. S&P500 added 5.57 (0.27%) to 2,081.90.

    Behold the chart, observe the lower lows and lower highs. That defineth a downtrend.

    Dow in silver & Dow in gold have turned up, of course, and both are above their 50 day moving averages. Dow in silver closed at $1,406.75 silver dollars (1,088.03 oz), up 2.41% today. Dow in gold rose 0.58% to G$307.60 gold dollars (14.88 troy ounces). Both have rolled over and headed down, and are still pointing down longer term.

    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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