• Gold Price Rose $4.90 or 0.04 Percent Today Closing at $1,202.90

    10-Apr-15 17-Apr-15 Change % Change
    Gold Price, $/oz. 1,204.60 1,202.90 -1.70 -0.1
    Silver Price, $/oz. 16.37 16.221 0.149 -0.9
    Gold/Silver Ratio 73.586 74.157 0.571 0.8
    Silver/gold ratio 0.0136 0.0135 -0.0001 -0.8
    Dow in Gold $ (DIG$) 309.93 306.34 -3.59 -1.2
    Dow in gold ounces 14.99 14.82 -0.17 -1.2
    Dow in Silver ounces 1,103.26 1,098.96 -4.30 -0.4
    Dow Industrials 18,060.41 17,826.30 -234.11 -1.3
    S&P500 2,101.77 2,081.18 -20.59 -1.0
    US dollar index 99.66 97.53 -2.13 -2.1
    Platinum Price 1,170.00 1,166.80 -3.20 -0.3
    Palladium Price 775.75 782.65 6.90 0.9

    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

    On Comex today the GOLD PRICE rose $4.90 (0.04%) to $1,202.90. Silver slipped a miniscule 5-1/2 cents to $16.221. Silver’s low this week hit $15.95.

    After trading as low as 1,183.50 on Tuesday, the GOLD PRICE closed the week only $1.70 lower. I showed the chart on the right this week, to illustrate the bowl or rounding bottom gold is forming, with a lip about $1,350.

    Look, now, this is a heartening chart. When any market keeps dropping to similar points but refuses to drop further, it’s tired of falling & ready to climb. Similar chart can be drawn for silver, but even better (4 stops at the bowl’s bottom).

    Gold in USD Index

    Then I showed y’all this chart on the left, Gold measured by the US dollar index, Remember the dollar index measures the dollar’s value against several currencies. There you see that after forming an even-sided triangle, gold broke out yesterday & stayed out today. However, it must confirm by closing above the 50 DMA. Momentum indicators promise it will. Gold is on a tear against other rotten, scrofulous, parasitic, evil fiat currencies like the euro & yen & pound & Ozzie dollar.

    Silver Price

    The SILVER PRICE refusal to drop below $15.95 this week makes me anticipate — not proven yet — that silver has formed a falling wedge that will break out upward. However, silver must first hoist itself above its 50 DMA ($16.43) and 20 DMA ($16.64).

    Gold/Silver Ratio

    I am wondering, too, about silver’s sudden transition from stronger than gold to weaker. The GOLD/SILVER RATIO ended today at 74.157, but failed to break the downtrend like this week. Looks ready to turn down again. In march it made a similar upside breakdown that failed & was followed by a huge drop.

    It was a miserable week for silver and gold prices, but try as they might the sellers couldn’t break them. That’s heartening action. If gold clears $1,225, buy it or silver.

    Build the bubble, and the pricking pin will appear. Media mumblers today laid blame for stocks’ plunge on fear of a Greek default. Greece is only a nearby pin for a bubble waiting to burst. US dollar index capped a bad week with more pain. Silver & gold went everywhere & nowhere. Crude oil surprised the experts & broke out upside.

    Dow Jones Industrial

    Nat’ral born durn fool from Tennessee that I am, I am not above every now’n then saying, “I told y’all so!” Stocks have been fumbling & stumbling all week near the top boundary, a sign of weakness & inability to advance. Today somebody on Wall Street opened the trap door, and all the stocks fell through. Yesterday some durned fool said “watch for Dow close below 17,620 & S&P500 2,030.” Those numbers looked a long ways off from 18,105.77 & 2,104.99. Today they look a lot closer, for the Dow 279.47 points closer, down 1.54% to 17,826.30. Sliced through those 20 & 50 DMAs like a straight razor & never looked back. Fell more than half the trading channel’s width. Chart on the right.

    S&P500 lost 23.81 (1.13%) but also cut through its intertwined 20 & 50 DMAs. S&P had been forming an even-sided triangle, & now is much nearer the bottom boundary. Momentum turned down today.

    Dow in Gold

    All week long the Dow in metals has been jigging & fishhooking up & down with no effect. Today it turned plumb vicious. Dow in Gold lost 1.97% today to close at G$306.36 gold dollars (14.82 troy oz) — Boom! Plunged below the 20 & 50 DMA. Chart on the right.

    Dow in Silver

    In line with silver’s weakening against gold this week the Dow in Silver didn’t acquit itself quite so briskly. Fell 1.33% to S$1,420.18 silver dollars. (1,098.42 try oz). Chart on the left.

    This past week most likely market the end of the corrective rally in the Dow in metals. Gravity is again setting the course.

    US Dollar

    ‘Tis an unbroken law in markets that parabolic rises fall as fast as they rose. US dollar index is painting another example now. Now appears that last Monday’s high made a double top with the 16 March high. US dollar index fell steadily & generously throughout the week, through the 20 DMA and now nearly to the 50 (96.99). Indicators have turned down. All those hot-rock speculators will become rats & cockroaches fleeing the ship when it closes below 96.30, adding speed to the descent. USD Chart on right.

    Euro rose today, finally, through its 20 DMA (107.94) to close at $1.0806, up 0.37%. Chart shows a double bottom, so I reckon it is rallying, but nothing will be proved until it conquers $1.1040.

    Yen rose 0.9% to 84.08. Trending up and standing above its 20 & 50 DMAs, but must break out above 84.50 to confirm a rally.

    West Texas Intermediate Crude fell back 1.40% today to $55.74, but that changeth naught. Still broken out above the 2-1/2 month range and will head higher. Copper is also frisky, and broke out of a bull flag today, projecting a move to about $3.00. Interesting & comforting to see these inflation markets rising. Good for metals. Not essential, but helpful.

    I view with suspicion — timeo Danaos et dona ferentes — a meeting of high monetary muckety-mucks in Washington this weekend. No telling what sort of mischief they will brew. I view even more suspiciously statements this week by an old Marxist economist named Desai who works with OMFIF to the effect that the IMF’s Special Drawing Right ought to be upgraded to include gold. That’s gold-plating, not reform & certainly not any gold standard. I don’t want any of the Establishment’s rotten fixes that only make things worse, I want real money back.

    I am so proud of my office flies! I have trained them to disappear every time I pull out a flyswatter. They never miss.

    With 320 million people in America, you’d think they could find somebody better to run for president than a re-tread from the Bush & Clinton families or people with annoying shrill voices. We must be dumber than I thought.

    Whoa! I know some of y’all read my emails and think that buying gold and silver lies outside your financial reach. Guess what? You’re wrong. I went into business to serve people rich, poor, & in-between. You don’t deserve to write the big orders if you won’t write the small ones.  Since 1981 I’ve helped people accumulate wealth through my Monthly Acquisition Plan (MAP), http://the-moneychanger.com/monthly_acquisition_plan

    MAP acts just like a savings account in silver and gold, except that every month it’s delivered to your door. With no monthly commitment and a minimum order of only $300, you can start accumulating your own gold and/or silver right now. Head over here, http://the-moneychanger.com/monthly_acquisition_plan print the form and sign up.

    Gold and silver won’t stay down forever. Get started now!!

    Y’all enjoy your weekend.

    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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