Gold Price Close Today : 1,737.90 Gold Price Close 27-Jan : 1,732.20 Change :
5.70 or 0.3% Silver Price Close Today : 3372.50 Silver Price Close 27-Jan :
3374.70 Change : -2.20 cents or -0.1% Gold Silver Ratio Today : 51.532 Gold
Silver Ratio 27-Jan : 51.329 Change : 0.20 or 0.4% Silver Gold Ratio : 0.01941
Silver Gold Ratio 27-Jan : 0.01948 Change : -0.00008 or -0.4% Dow in Gold
Dollars : $ 152.99 Dow in Gold Dollars 27-Jan : $ 151.32 Change : $ 1.67 or 1.1%
Dow in Gold Ounces : 7.401 Dow in Gold Ounces 27-Jan : 7.320 Change : 0.08 or
1.1% Dow in Silver Ounces : 381.39 Dow in Silver Ounces 27-Jan : 375.74 Change :
5.64 or 1.5% Dow Industrial : 12,862.23 Dow Industrial 27-Jan : 12,680.14 Change
: 182.09 or 1.4% S&P 500 : 1,344.90 S&P 500 27-Jan : 1,318.01 Change : 26.89 or
2.0% US Dollar Index : 78.959 US Dollar Index 27-Jan : 78.883 Change : 0.076 or
0.1% Platinum Price Close Today : 1,621.50 Platinum Price Close 27-Jan :
1,621.80 Change : -0.30 or 0.0% Palladium Price Close Today : 705.90 Palladium
Price Close 27-Jan : 688.50 Change : 17.40 or 2.5% Appears that the SILVER and
GOLD PRICE broke today, or at the very least, must back off for a running start
at $1,750 and 3400c. The GOLD PRICE lost $18.90 to close Comex at $1,737.90, and
in the aftermarket lost another $10 to $1,726.10. Silver lost 42.6c, closing at
3372.5c, but dropped nearly another 25c in the aftermarket, falling to 3349c.
"Twas a big tumble for both. Let's look closer. GOLD PRICE wiped out all its
gains since Monday down at $1,725 support/resistance. After rising all week,
that's not terribly surprising, but come Monday gold had better wake up and dig
its claws into the bark, or it might fall out of the tree. Support stretches out
its limbs at $1,725 and $1,705. Breaking those takes gold down to $1,680. Up
above, the GOLD PRICE high close has been $1,756.80 (yesterday), but it hasn't
been able to breach $1,760. Therefore, watch that level on the upside. Today's
break probably wasn't enough to correct the move up from $1,523.90, but a drop
to $1705 might be. More likely target is $1,675. That would also mark a
kiss-back to the downtrend line. SILVER PRICE looks like gold, but the range is
3440c and 3290c. Always bear in mind that silver is much more volatile than
gold, both upside and downside. First, if silver's rally has not been stymied at
the 300 day moving average (3448c) for a goodly correction, then it can't fall
below 3300c. Next, a routine and shallow correction would sweep silver to 3250c
- 3200c. If things get pricklier, then 3100c. Lowest target expected would be
2950c. Of course, we have to patiently wait to see how the correction unfolds.
Meanwhile, another buying opportunity is coming y'all's way. Stop your ears now
against all the Wall Street Sirens who will be shrieking the silver and gold
bull market has died. By now you understand that those folks don't know no more
than somebody who works as a spokesman for a government numbers office. One
glance at the chart tells you that silver and gold and platinum and palladium
all trod water this week. On the other hand, stocks rose this week, mostly
today. US dollar index flatlined, and today silver and gold broke. Lo and
Behold! The Dow exceeded 12,850 today, and fact of the business is, nearly
reached the May intraday high (12,876). Dow today gained a respectable 156.82
points (1.23%) to close at 12,862.23, nearly on the 12,869.95 high. S&P500 was
even happier, rising 19.36 points (1.46%) to 1,344.90. What has everybody
clambering all over each other to buy stocks? Well, if you can believe it,
government numbers. Personally, I don't put nearly as much stock in government
numbers as I do in astrology, and I couldn't even tell you what my birth sign is
-- the Possum, or the Turkey Buzzard, maybe. Yet in this age of Reason, High
Technology, and Right Big Government Lies, people still suck up those government
numbers like they were single malt scotch at a free bar. All this big news was
that the government's unemployment rate dropped to 8.3%, nearly the low for the
last three years. (On another note, if you believe unemployment is 8.3%, call me
about some wooden Krugerrands I can sell you really cheap.) Truth is, market was
looking for some excuse to rise, that was the news today, so it took the bait.
Oh, and by the way, did I tell y'all that a Greek Debt Deal Is Near? Y'all might
wonder why I am so negative on stocks. Because they are in a primary down trend
(bear market), and if I don't do much more than keep you out of stocks, five
years from now you'll still think I was the brightest bulb in the box. Hide and
watch., That US Dollar Index this week played Bait and Switch. Looked like it
would break through 79.50 and fall off the face of the earth, but it stopped and
rallied and even ended the week 7.6 basis points higher than last Friday. Today
the dollar index lost a tee-tiny 3.2 basis points (0.04%), leaving me wondering
why the currency market has gone so quiet all of a sudden. It ended at 78.959,
but climbed as high as 79.357. This currency thing isn't clear. Dollar may rally
still and euro may sink to its intrinsic value -- zero -- before the dollar
does. The 1.3200 level seems to have blocked the euro this week. Closed 1.3155
today, up 0.06%. Also bumping up against its critical 62 day moving average, and
can't punch through. Brace yourself for another stumble for the euro., Reason
hath fled the yen market. Closed today down 0.50% at 130.56c/Y100 (76.59/US$1),
giving back a third of its spectacular gains since 24 January. It gaps down,
then bounces right back, gaps up, then waterfalls down. Why does that picture
make me thing of Nice Government Men in their cubicles phoning their partners in
manipulation on the market floor? Well, I know election year has come because so
many pious confessions are spontaneously erupting from politicians' lips.
Yesterday it was Bernard O'Bama shaking out his Christianity before the National
Prayer Breakfast, and even Newt Gingrich is claiming to have got religion. You
may think I am harsh to say these things, but I say it's as sorry as gully dirt
for politicians to trade on their faith. I never have thought much of them
"talkin'" Christians, only the "walkin'" ones. They never need to tell you what
they believe, because you already know from watching 'em. All the This Day In
History websites say that the 16th (income tax) amendment was ratified 3
February 1913, but that's a lie. Secretary of State Philander Knox fraudulently
and knowingly certified it when it had never passed. The irregularities in the
supposed state ratifications are too numerous to list, but you can read all
about it in "The Law That Never Was" by Bill Benson and Red Beckman. Of course,
if you don't pay the income tax, the government will try to jail or kill you.
Speaking of the IRS, tax time is fast approaching. My friend, Dan Pilla, Jr., at
www.taxhelponline.com has over 25 years experience fighting with the IRS for
taxpayers' rights. If you have bad tax problems, Dan's the man to call. One of
the 11 books he has written is "How to Get Tax Amnesty." Check him out. I
receive no remuneration whatever for recommending Dan. Y'all enjoy your weekend!
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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