Gold Price Close Today : 1781.30 Change : 41.30 or 2.4% Silver Price Close
Today : 39.325 Change : 1.448 or 3.8% Gold Silver Ratio Today : 45.30 Change :
-0.641 or -1.4% Silver Gold Ratio Today : 0.02208 Change : 0.000308 or 1.4%
Platinum Price Close Today : 1766.80 Change : 14.30 or 0.8% Palladium Price
Close Today : 725.95 Change : -1.80 or -0.2% S&P 500 : 1,120.76 Change : -51.77
or -4.4% Dow In GOLD$ : $124.40 Change : $ (9.12) or -6.8% Dow in GOLD oz :
6.018 Change : -0.441 or -6.8% Dow in SILVER oz : 272.60 Change : -24.15 or
-8.1% Dow Industrial : 10,719.94 Change : -519.83 or -4.6% US Dollar Index :
74.64 Change : 0.030 or 0.0% For those who say to me, "Well, why buy gold or
silver? The government manipulates those markets." today offered a lesson
exactly how much good manipulation does. I doubt not that the Nice Government
Men saw their opportunity after yesterday's FOMC statement to catch a bunch of
people short stocks and the Plunge Protection Team dove in. They did, and the
Dow ended up 429.92, 3.98%. Wow. And today the Dow lost 519.83 or 4.62% to close
at 10,719.94. S&P500 did no better, losing 51.77 (4.4%) to 1,120.76. 'Tis
possible to manipulate markets, but only at the margin and only for a short
time. Otherwise, markets are simply too big to be forced against their primary
trend. The trend will always wreak its vengeance. Stocks have now reached
support that stretches back to January 2010. The area from 9600 to 10,700 might
stop the fall, but then again, it might not. This is the last train out for
anyone holding stocks. You sell now, or watch them wither gruesomely over the
next 5 years. Stocks: they are the Vitamin D of Investment Vitamins, and the D
stands for "deficiency." US DOLLAR INDEX caught today, rose 3 silly basis points
to 74.635. Euro fell 1.36% to 1.4175, while for no apparent cause today a couple
of rating agencies declared that France's credit rating was still AAA. Soooo,
why did you need to tell us that nothing had changed, unless somebody is
suspecting that something has changed? Yen rose today to 130.10c/Y100 (Y76.8/$).
The Gold Price rose 2.4% today, up $41.30 to $1,781.30. In the aftermarket it
has risen another $20 to $1,801. Yep, it's in a parabolic rise, and, yep, no
telling where it will stop. Nothing in today's chart even hints that gold's
about to call a halt. It wants to go higher tomorrow. The Silver Price climbed
up off yesterday 3700c bottom and never looked back. Should also climb again
tomorrow. Lost 149.7c yesterday, gained 144.8c today to close Comex at 3932.5.
Maybe, maybe Friday's 3750c and yesterdays 3700c formed a double bottom? To me
silver appears to have more downside. Hard above at 3970c lies its 20 day moving
average. How will it act there tomorrow? The Silver Price has done nothing to
gainsay or negate the downtrend begun five days ago, and must climb above 4229c
to do so. The economy and monetary system has reached a new stage of decay where
its condition deteriorates faster and faster. Not world wide panic yet, but
daily unthinkable milestones whiz by and are left behind: Greece defaults, US
debt ceiling crisis, US debt downgrade, gold passes $1,700 then $1,800, stock
market falls 500+ points a day. Oh, this will ease off, but the decay has
ratcheted to a higher, faster level. Y'all ought to remember that for a long
time you can see bad things coming on the horizon, but they seem to linger
there. Oh, you know they're coming, but you've got plenty of time. Then one day
the fellow in the high-top boots and peaked cap comes to arrest YOU. As I said,
only way I know to stay out of bar fights is to leave the bar before the fights
start. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. -
Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2011, 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 $195.66; stocks' primary trend
is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or
US$-denominated assets, primary trend down; real estate in a bubble, primary
trend way down. Whenever I write "Stay out of stocks" readers inevitably ask,
"Do you mean precious metals mining stocks, too?" No, I don't. 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 outlook. I write them for long-term
investors in physical metals. Take them as entertainment, but not as a timing
service for futures.
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