Gold Price Close Today : 1685.60 Change : 23.20 or 1.40% Silver Price Close
Today : 3272.6 Change : 47.8 cents or 1.48% Gold Silver Ratio Today : 51.506
Change : -0.044 or -0.09% Silver Gold Ratio Today : 0.01942 Change : 0.000017 or
0.09% Platinum Price Close Today : 1647.70 Change : 21.50 or 1.32% Palladium
Price Close Today : 668.00 Change : 8.80 or 1.33% S&P 500 : 1,416.51 Change :
19.40 or 1.39% Dow In GOLD$ : $162.39 Change : $ (0.00) or 0.00% Dow in GOLD oz
: 7.856 Change : 0.000 or 0.00% Dow in SILVER oz : 404.62 Change : -0.39 or
-0.10% Dow Industrial : 13,241.63 Change : 180.90 or 1.39% US Dollar Index :
78.93 Change : -0.357 or -0.45% The GOLD PRICE jumped up when Bernanke was
slapping the dollar, which was no surprise to anyone with an IQ greater than the
temperature of his feet on a cold day. GOLD PRICE gained $23.20 on top of
Friday's $20 gain to close at $1,685.60, and has now reached the bottom of the
range where it fell away. The GOLD PRICE has gained $43.20 in the last two days,
2.63%, from last Thursday $1,642.30. Mmmmm. The GOLD PRICE hit a $1,693.30 high
today, plus closing above its 200 day moving average (1,683.66). Momentum is
plainly up, but gold again meets its 150 DMA ($1,708.36) at $1,708.36, where
strong resistance also awaits ($1,705). But who knows? Maybe last week we saw
Gold's low for the move? Right now gold has its dander up, so expect higher
prices tomorrow. Gold needs that close above the 150 DMA to prove it has
finished its correction. SILVER PRICE closed the Comex at 3272.6c. In the last
two trading days silver has added 140.7c (4.5%). Today it augmented (that's for
you engineers out there) 47.8c. Today buoyed silver up to that internal support/
resistance line, but its 3304c high also reached for the 20 (3345c) and 50
(3333c) day moving averages. For the present I'm working on a tentative theory
that both silver and gold bottomed last week, but that will only be proven when
this move falters and falls back to a slightly HIGHER low than the last one.
Hang on. Silver and gold are turning exciting. The comrades on the supreme
court, known affectionately here as "The Supremes," are hearing a gang of
lawsuits on Obamacare. Let me cut to the bone for you right here: no way
congress can "mandate" you buy life insurance, a hamburger, a Chevrolet, or
anything else, The Supremes notwithstanding. Listen here: if you have to sign
something to participate, they can't mandate it. Think about it: You murder
somebody with a meat ax. The police come to arrest you. At any point in the
proceeding, will anybody present you with a contract proving you signed
promising that you will not kill anybody with a meat ax? Nope. It is therefore
MANDATORY that you not kill people with a meat ax. However, to buy the
"mandated" insurance, you will have to sign a contract. If government can make
you sign anything, then you are not free. Same argument applies to social
security: did you have to SIGN something, something called an "application,"
before you got a social security number? What would have happened had you NOT
signed? Would they have given you a number anyway? Like I said, the yankee
government can NOT make you buy insurance, medical or otherwise. TODAY gave us
another example of how the Fed destabilizes markets. The Bernancubus made
statements the market interpreted as soft on inflation. That broke the dollar's
back and sent stocks jumping high, and boosted silver and gold. The Bernancubus
is the same old drunk driver, slamming on the brakes, then pushing the gas pedal
to the floor. Here's the irony so bitter it makes you want to spit: they claim
that a central bank stabilizes markets. I will not even touch, as a subject too
painful for honest and rational minds to dwell on, how badly the Fed's jimmying
interest rates lower destabilizes the entire economy and guarantees future
poverty. Highest Dow close for this move took place on 15 March at 13,252.76,
and for the S&P500 on 19 March at $1,409.59. Today the Dow added 180.9 (1.23%)
to close at 13,241.63 while the S&P500 added 19.4 (1.39%) to 1,416.51. For the
S&P500 that was also a marginal new intraday high, but not for the Dow. In other
words, rather than first steps on a new rally, this may mark the opposite, a
deadly double top. How can we tell? If not a double top, tomorrow stocks will
advance, should advance strongly. If they piddle, then drop below 13,000,
standing under them will be like standing on a sidewalk watching piano movers
hoist up a piano on a pulley. Nothing good will be coming your way. Stupid
people are not necessarily evil, but evil people can sometimes look stupid to
those who don't know they are evil. Take for instance Bernanke's statements
today, and I am not saying Bernanke is personally evil any more than being
involved in any fundamentally, irretrievably evil institution makes one evil. I
suppose you might work for the Mafia and be a really good person, but it doesn't
seem likely. Anyhow, since I presuppose to virtual certainty that central
bankers do to markets what they INTEND to do, I suppose the Nice Government Man
Mr. B. WANTED to knock the US dollar index down. Dollar dropped like your
mother-in-law's opinion of you when you showed up for Thanksgiving dinner sloppy
drunk, just about the time NGM Bernanke was stating his statement. Broke that
79.40-79.30 level that had been supporting it and ended up down 35.7 basis
points to 78.928 (-.4%). Of course, I'm as enthusiastic about the dollar as I am
about cholera, and like the euro almost as much as smallpox. The yen ranks
around pneumonic plague. But I digress, because all are so patently vile. The
dollar's fall goosed the euro above its 20 DMA but only to the downtrend line.
Closed at $1.3356 or up 0.65%, so all y'all planning a trip to France will be
paying more (unless you were clever enough to buy GOLD instead of vile paper
currencies -- integrity occasionally has its rewards). In Japan the NGM must be
worrying that the yen was about to recover after its extended plunge, so despite
the dollar's tumble, the yen tumbled, too, down 0.6% to 120.74/Y100
(Y82.82/US$1). No matter, the yen has still pointed its nose skyward. Argentum
et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin
Sanders, The Moneychanger The-MoneyChanger.com 888-218-9226 10:00am-5:00pm CST,
Monday-Friday © 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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