Gold Price Close Today : 1,648.80 Gold Price Close 29-Jul : 1,628.30 Change :
20.50 or 1.3% Silver Price Close Today : 3819.7 Silver Price Close 29-Jul :
4009.2 Change : -189.50 or -4.7% Gold Silver Ratio Today : 43.166 Gold Silver
Ratio 29-Jul : 40.614 Change : 2.55 or 6.3% Silver Gold Ratio : 0.02317 Silver
Gold Ratio 29-Jul : 0.02462 Change : -0.00146 or -5.9% Dow in Gold Dollars : $
143.65 Dow in Gold Dollars 29-Jul : $ 154.16 Change : $ (10.51) or -6.8% Dow in
Gold Ounces : 6.949 Dow in Gold Ounces 29-Jul : 7.458 Change : -0.51 or -6.8%
Dow in Silver Ounces : 299.97 Dow in Silver Ounces 29-Jul : 302.88 Change :
-2.91 or -1.0% Dow Industrial : 11,457.93 Dow Industrial 29-Jul : 12,143.24
Change : -685.31 or -5.6% S&P 500 : 1,201.16 S&P 500 29-Jul : 1,292.28 Change :
-91.12 or -7.1% US Dollar Index : 74.489 US Dollar Index 29-Jul : 73.868 Change
: 0.621 or 0.8% Platinum Price Close Today : 1,719.00 Platinum Price Close
29-Jul : 1,778.10 Change : -59.10 or -3.3% Palladium Price Close Today : 740.10
Palladium Price Close 29-Jul : 826.10 Change : -86.00 or -10.4% Despite the
turmoil this week, the Gold Price managed to gain $20.50, while the Silver Price
took a bad whupping with a barbed wire whip, but nothing compared to stocks. The
PLATINUM PRICE tanked and PALLADIUM PRICE busted. Leave them alone. Can you
picture how the phone lines are heating up from central bank to central bank
around the world? Hot enough to fry peppers. Poor Nice Government Men, trying to
prop up the euro and stop that money from flying into their own currency.
Japanese were brash enough to come out and announce it. US Dollar Index today
lost 63.5 basis points to 74.489, down 0.82%. Gave back half of what it gained
yesterday. THIS is how NGM "stabilize" markets. Despite all, Dollar Index has
certainly not broken down and is still grinding out a bottom from which to stage
a rally. Remember than in 2008 dollar rallied from 76.15 in late September to
88.19 in November. Panic does that. Euro mysteriously rose today to close
1.4291, up 1.35%. A great Potemkin currency. Look for 120. Yen regained some of
yesterday's huge loss, closing Y78.43/$ (127.51c/Y100). Still below 20 day
moving average and still with that samurai sword hanging over it. I was just
curious what the measured targets of those head and shoulders formations in the
S&P500 and Dow might be, so I calculated them: 10,904 for the Dow and 1,140 for
the S&P500. Now I know the problem with watching markets is that we grow too
pessimistic when the market's dropping and too optimistic when it's rising. You
might see a sudden rally back up to 12,000. Might. But 10,904 isn't far from
here, either. Dow rose 0.65% or 74.25 points today to close at 11,457.93. Muse a
moment. January 2000 sic high was 11,722. Ten years later, stocks are still
where they were. Merely to have stayed even with inflation the Dow would have to
be 15,365. That's nearly a 25% purchasing power loss. In the same time they've
lost over 80% against gold and silver. Stocks -- like sending out for the barber
to bleed you when you have pneumonia. The Gold Price couldn't quite make up its
mind today, ranging from 1670 to 1647.75, but closed near the day's low on Comex
at $1,648.80, down $7.40. Then in the aftermarket it kept climbing to $1,663.
Don't get too excited about that. It can well be explained as shorts covering
before the weekend in what may be a world wide panic. Anyway, it didn't take
gold high enough to do anything more than establish a downtrend with a lower
high. The Gold Price has drawn its line in the sand at $1,640. Strong support
lurks at $1,605. If gold closes above $1,680, that will tell us it has decided
to RISE during this financial crisis instead of falling. Look for lower Gold
PriceS. If I contented myself with saying silver had lost 189.5c from Friday to
Friday, I would be calling King Kong a "fair-sized monkey." From the week's high
close at 4174.7c silver lost 355c to close Comex today at 3819.7c. It lost
122.1c today. Gold/Silver ratio closed at 43.166, up a full ounce from
yesterday. Silver had a huge 230c range today from 3981 to 3749. After
yesterday's huge waterfall silver's bounce was tiny, and regained nothing.
Climbed in the aftermarket a little, but clearing books for the looming weekend
explains that. The Silver Price will move lower. First target is the 200 day
moving average, now at 3366c. Any close above 4175c gainsays that. The mess in
Europe is not fixable. The banks might be cobbled together again, but not
without swift, decisive measures. Of all the EU government and EC responses,
none have been swift and decisive. Since they have only two weapons, Liquidity
and Blarney, they have only one choice: PRINT MORE MONEY. Caught in the deadly
contagion of crisis and panic in the interwebbed world of Globalism they
themselves have woven, US authorities will respond with the same weapon: PRINT
MORE MONEY. This will worsen all the economic problems, perhaps even ushering in
a hyperinflationary depression. In the immediate future there's better than a
50/50 chance Europe will drag the US into crisis. Here are my suggestions for
self-protection: 1. Get liquid. Pay down debt as much as you can. Sell
non-performing investments, like stocks, or investments that will suffer from
depression or inflation. 2. Close out leveraged positions. Markets are way too
volatile for that. 3. Hold on to silver and gold. 4. Hang on to cash
anticipating great bargains in a crisis. Remember gold went to $700 and silver
to 880c. Gold/silver ratio went to 84, offering a great gold to silver swap. Not
expecting those numbers again, but we might see the analogs. 5. Fill up propane
tanks, home gasoline or diesel tanks. 6. Stock up on food -- long term storage
food, not smoked oysters and tomato soup. Rice, for instance. Dehydrated food.
MREs. 7. Stock up on ammo. 8. Get out of the city, or at least have a country
place waiting to receive you. Don't wait, and don't misunderstand. The numbers
above are NOT my targets for silver and gold. As yet I am not even sure gold
will act as it did the last time, plummeting while the dollar rocketed. Maybe
gold will drain off some of that flight to quality from the dollar. Don't be
fooled by my calm words, either. Y'all are reading the equivalent of an air raid
siren, and y'all had better run for cover. MILK NAZIS STRIKE AGAIN! Government
guardians of the public health are at it again, arresting the owners of Rawesome
Foods in Los Angeles and even the head of the local Weston A. Price Foundation
chapter. What called forth the SWAT team? Milk. Deadly raw milk. You see, in Los
Angeles the murder rate is so low, and drug traffic so rare, the authorities
have time to focus on the real criminals who dare to sell raw milk, which, after
all, has not yet been proven safe in the 6,500 years mankind has been guzzling
it. If the government didn't stop this insolent crime why, health might break
out all over, and what would we do then? Who would drink the High Fructose Corn
Syrup soft drinks? Who would take all Big Pharma's drugs? It would be a national
catastrophe. The purpose of all regulation is to stifle competition. Milk is the
most consumed food in the US. Who subsidizes the milk industry that produces all
that dead and deadly pasteurized milk? Whoops -- the US government. My dear
friend Catherine Austin Fitts published an article today analyzing the effect of
stifling competition. Y'all will want to go read it at
http://solari.com/blog/?p=13360 . Don't miss it. Y'all enjoy your weekend.
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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