Gold Price Close Today : 1678.00 Change : 14.30 or 0.9% Silver Price Close
Today : 3223.30 Change : 58.60 cents or 1.9% Gold Silver Ratio Today : 52.058
Change : -0.512 or -1.0% Silver Gold Ratio Today : 0.01921 Change : 0.000187 or
1.0% Platinum Price Close Today : 1563.70 Change : 33.20 or 2.2% Palladium Price
Close Today : 686.05 Change : 12.20 or 1.8% S&P 500 : 1,316.00 Change : 0.62 or
0.0% Dow In GOLD$ : $156.56 Change : $ (1.47) or -0.9% Dow in GOLD oz : 7.574
Change : -0.071 or -0.9% Dow in SILVER oz : 394.28 Change : -7.67 or -1.9% Dow
Industrial : 12,708.82 Change : -11.66 or -0.1% US Dollar Index : 79.70 Change :
-0.671 or -0.8% Today the GOLD PRICE climbed $14.30 to $1,678.00. The SILVER
PRICE tagged right along and ran out front with a 58.6c rise to 3223.3c. GOLD
PRICE has now reached my $1,680 target area -- high today hit $1,681.25. Gold's
present zeal argues that it will rally to $1,705 at least before pausing. Worth
noting is that gold's crucial 150 day moving average stands at $1,681.19 today.
As a footnote, the GOLD PRICE also rose above its 50 DMA (1,669.54). Remember
that during this bull market gold has only rarely traded below that 150 DMA, and
never for a very long time. If it climbs over soon, it may not touch that 150
DMA for a long time to come. The SILVER PRICE has punched through a resistance
line within its trading channel, with one clear goal in mind: reach 3400c. Look
for it soon. SILVER 's 300 DMA, which has been as important to silver as the 150
DMA has been to gold, stands at 3428c today. About the same place stands
resistance from last fall's trading. Silver has the bit in its teeth and is
running away, above its 20 and 50 DMAs and raging. Keep in mind if you are
pondering buying silver or gold that you are not buying for a one or even two or
five dollar gain, but a TRIPLE or quadruple. Even a five dollar gain here will
look very small in hindsight. Longer you wait to buy, more they will cost. A
joke on the streets of Moscow these days: "Everything the Communists told us
about communism was a complete and utter lie. Unfortunately, everything the
Communists told us about capitalism turned out to be true." Markets have made
their intentions considerably clearer today. Dollar's rolling into the gutter
again, stocks are indecisive and faltering, gold and silver are shaking off
their worries and marching higher. Let's start with the US Dollar Index. Dealing
with all these fiat currencies for me is like having to listen to a long lecture
on tapeworms and other internal parasites. Thus I want to get it behind me as
quickly as possible. What the dollar is losing, the euro is gaining as the
frenzied rats, uncertain which ship will sink first, swim from one ship to the
other. Here's the answer to their quandary: BOTH are sinking. Dollar index today
lost 67.1 basis points, a meaty 0.86%, to grab a branch at 79.704. Falling
through the trap door at 80 sends the dollar much lower, and a fall through
79.50 (probably tomorrow) will only tie anvils to the dollar's feet. Dollar's
rally is over for a while. Broke clean through the uptrend line, closed below
the 20 day moving average (80.53), and has only barely avoided breaking the 50
DMA (79.45). None of this promises anything other than lower prices for the
dollar. It has fallen off the kerb into the gutter. Euro meanwhile has a full
load on and has posted two gaps up in the last 3 trading days -- breakaway gap,
headed for 132+ resistance. Not clear yet how substantial this rally is, or how
long it might last. May constitute no more than a rally before one last spike
down, but looks good from here. Momentum points skyward as euro has passed its
20 DMA (1.2889) and is drawing a bead on its 50 DMA (1.3163). Euro closed today
up 0.77% at 1.3031. Yen did little today, up 0.08% at 129.93c/Y100
(Y76.96/US$1). Above the 20 DMA (129.62) but looking awfully tame. STOCKS today
looked lost and bewildered, some indices up, some down. Confusion promises
nothing good as stocks run out of enthusiasm and steam. Dow fell 11.66 (0.09%)
to 12,708.82. Broader S&P500 rose 0.62 (get out the magnifying glass) or 0.05%
to 1,316.00. Dow acting allergic to 12,750. Last high close came 2 May 2011 at
12,810. That is now doing the same thing to the Dow that Kryptonite does to
Superman. S&P500 is also struggling at analogous downtrend line from 29 April
2011 close at 1,363.60. Don't expect either index to reach those last high
levels. This will bring great pain to many, and I take no pleasure in reporting
it. Stocks are in a primary down trend, and have much, much further to fall in
the years before that bear market ends. Argentum et aurum comparenda sunt -- --
Gold and silver must be bought. - Franklin Sanders, The Moneychanger
The-MoneyChanger.com © 2012, 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 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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