• The Gold Price Lost $9.50 to Close at 1,193.60

    9-Apr-15 Price Change % Change
    Gold Price, $/oz 1,193.60 -9.50 -0.79%
    Silver Price, $/oz 16.16 -0.28 -1.68%
    Gold/Silver Ratio 73.843 0.662 0.90%
    Silver/Gold Ratio 0.0135 -0.0001 -0.90%
    Platinum Price 1,156.40 -9.10 -0.78%
    Palladium Price 762.10 6.70 0.89%
    S&P 500 2,091.18 9.28 0.45%
    Dow 17,958.73 56.22 0.31%
    Dow in GOLD $s 311.02 3.42 1.11%
    Dow in GOLD oz 15.05 0.17 1.11%
    Dow in SILVER oz 1,111.03 22.07 2.03%
    US Dollar Index 99.31 1.17 1.19%

    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 and GOLD PRICES were knocked to the ground today. The SILVER PRICE lost 27.6 cents (1.7%) to end Comex at $16.164. Gold lost 0.8% or $9.50 & closed at $1,193.60. Y’all cast back you minds to 31 March & that $1,178.20 gold price low. Today’s trading dragged (NOT “drug”) us back to the breakout after that low. Indicators point down.

    What remains to catch the GOLD PRICE & keep it from falling to the world’s magma core? The uptrend line off the 17 March low, where it stopped today. If gold does turn around here instead of piercing that uptrend line, well, oh, my! But it must wheel & turn here.

    Gold Silver Ratio

    Working against that is the GOLD/SILVER RATIO, which rose again today, up 1.3%. Gapped up again. Possible that it is running out of steam here, but only if it proves that tomorrow with a lower or sideways close. Chart’s on the left.

    US Dollar

    Today the US dollar index SURGED to a new high for the move, rising 117 basis points (1.20%) to 99.31. Look at the chart on the right to see what “surged” really means. That cracked resistance at the 20 DMA (98.39), the downtrend line, the last high, & the trading channel’s midline, forecasting a move at least to the last high at 100.71. That is not inevitable, but would cap the dollar’s SURGE of the last 9 months with a double top and well-earned correction.

    Since the Euro is virtually the monetary mirror image of the dollar, it sank pitifully today, down 1.12% to $1.0659. Broke through the bottom of that rising flat-topped triangle and blasted that hope for a rally. Dead dog — lice & fleas are dropping off & looking for a new canine with a brighter future.

    Yen couldn’t die today because it hasn’t shown any signs of life in the past 4 months. Dropped 0.38% to 82.92, same range, same intertwined 50 & 20 DMAs. No direction.

    Stocks are trying to raise their head against a falling ceiling. Dow inched up 56.22 (0.31%) to 17,958.73 while the S&P500 millimetered up 0.45% (9.28) to 2,091.18. Having a hard time revving up RPMs enough to rally.

    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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