Gold Price Close Today : 1747.10 Change : 9.30 or 0.54% Silver Price Close
Today : 3377.80 Change : 54.50 cents or 1.64% Gold Silver Ratio Today : 51.723
Change : -0.568 or -1.09% Silver Gold Ratio Today : 0.01933 Change : 0.000210 or
1.10% Platinum Price Close Today : 1617.20 Change : 35.40 or 2.24% Palladium
Price Close Today : 697.75 Change : 12.40 or 1.81% S&P 500 : 1,324.09 Change :
11.67 or 0.89% Dow In GOLD$ : $150.46 Change : $ 0.20 or 0.14% Dow in GOLD oz :
7.279 Change : 0.010 or 0.14% Dow in SILVER oz : 376.47 Change : -3.66 or -0.96%
Dow Industrial : 12,716.46 Change : 83.55 or 0.66% US Dollar Index : 78.93
Change : -0.356 or -0.45% The SILVER and GOLD PRICE both enjoyed a profitable
day. Gold busted clean through the $1,740 barrier and closed at a new high for
the move, $1,747.10, up $9.30. Gold also posted a new intraday high, $1,750.77,
but couldn't clear that $1,750 wall. The GOLD PRICE Relative Strength Indicator
has now reached the "Shur-nuff Overbought" level, but little else hints this
rally will end any time soon. Above stands $1,800, which without question will
pull out a big knobkerrie and pound gold about the head and shoulders. But
that's $50 higher. SILVER gained 54.5c today and closed Comex at a new high,
barely, 3377.8c, but it didn't manage to clear the next resistance, 3400c. That
hurdle just stands there, rock solid for the moment. Thus although today silver
encouraged us, it didn't reach in its pocket and put any real money on the
table. We are left looking at the same range, 3300c to 3400c, and until silver
breaks out of that prison, nothing has happened. Y'all are going to look back
one of these days and tell your children, "You know, once upon a time I had a
chance to buy silver at thirty-four dollars!" They'll look at you in wonderment,
and then ask, "Grandpappy, what's a dollar?" Good thing about writing these
commentaries is that every day that dawns brings a new chance to be wrong. I was
not, however, wrong to suspect silver and gold were about to jump, based on that
one-slightly- down-other-slightly-up rule. But more below. Okay, y'all, a Greek
Debt Deal Is Near. Don't forget that. What kind of person would I be if I didn't
remind y'all? The US dollar, Laughingstock Of Fiat Currencies, only slightly
less ridiculous than the euro and yen, shed 35.6 basis points (0.46%) today to
land at 78.932. Yesterday's Big W resolved into a triple top, and obligingly
fell lower than Friday's lows, to 78.623, relieving our minds of the worry that
it might suddenly rally. Still, give the devil his due. Until the dollar clearly
violates that 78.60 level, it's liable to do anything. Well, we all know that
over time it can only do one thing -- slowly evaporate -- but I mean in the
short run. The scruffy and disgusting euro is flagging at the 62 day moving
average, today 1.3209. Euro closed up 0.58% at 1.3158. Looks like it won't punch
through, but will fall again for some sort of double bottom. Did I mention that
a Greek Debt Deal Is Near? Don't forget that. That will really help the euro by,
uh, by, uh, well, I'm sure it will help Greece, at least. We won't talk about
all the other bankrupt countries because one of them begins with an F. On the
other side of the globe pretty much nobody knows what they're doing, because
they bid up the doomed yen 0.07% to 131.32c/Y100 (Y76.20/US$1). It's still
rallying -- why is anybody's guess, given the fundamentals. Never mind, don't
expect anything to make sense in a fiat money world. Okay, stocks hung me on my
own words, and sure's this world did manage to peck through 12,700. Dow rose
83.55 (0.66%) today and closed at 12,716.46. S&P500 rose through my strict 1,320
to 1,324.08, gaining 11.67 (0.89%). As that notorious wit and indefatigable wag,
Queen Victoria, used to quip, "We are not amused." Nor are we enthused. Stocks
may simply be setting up for a little double top below 12,850, whence they will
sink like your car keys when they were in your shirt pocket and you leaned over
to get a better view of Hoover Dam. BICBW. Anyway, who would want to own stocks
and undergo all that fatigue of trying to pick the right one and do all that
worrying when you can just buy gold or silver, stick it in the safe, and wait
until Ben Bernancubus and the US Gov do what they do best: destroy the dollar.
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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