The Gold Price Remains in Primary Uptrend Comex Close at $1,646.70

Gold Price Close Today : 1646.70 Change : -20.20 or -1.21% Silver Price Close
Today : 3180.50 Change : -112.10 cents or -3.40% Gold Silver Ratio Today :
51.775 Change : 1.149 or 2.27% Silver Gold Ratio Today : 0.01931 Change :
-0.000438 or -2.22% Platinum Price Close Today : 1653.00 Change : -24.90 or
-1.48% Palladium Price Close Today : 693.05 Change : -13.00 or -1.84% S&P 500 :
1,405.52 Change : 4.23 or 0.30% Dow In GOLD$ : $165.33 Change : $ 2.88 or 1.77%
Dow in GOLD oz : 7.998 Change : 0.139 or 1.77% Dow in SILVER oz : 414.09 Change
: 16.19 or 4.07% Dow Industrial : 13,170.19 Change : 68.94 or 0.53% US Dollar
Index : 79.61 Change : 0.151 or 0.19% The silver and GOLD PRICE both wore
themselves out yesterday, and both wilted today. Gold closed Comex $20.20
lighter at $1,646.70 and silver lost 112.1c to 3180.5c. The GOLD PRICE nearly
ruined that nascent uptrend, and fell as low as $1,641.90. So far the $1,640
support holds, but should gold punch through that, then we are dealing with
$1,625 - $1,605. SILVER PRICE broke down through 3200c support when it fell to
3179c. Last week's low came at 3145c and today silver posted a low price at
3179c, then closed at 3180.5c, practically on the day's low. In the aftermarket
silver has risen above 3200c, but this is like an alcoholic walking back and
forth, up and down in front of a liquor store. If he doesn't intend to go
inside, he shouldn't keep wearing out the sidewalk there. However, right now all
hangs on that 3150c level. Should silver break that, then 3100c, even 3000c
becomes the next target. Be patient, lift up your eyes to the horizon, and gaze
there upon the PRIMARY UPTREND in SILVER and GOLD , and know that this, too,
will resolve to the upside eventually -- and probably within the next two weeks,
maybe this week. That rotten dollar index bounced back up 15.1 basis points
(0.19%) to trade right now at 79.611. It traded today up to 79.843, the 79.80
area where it broke down on Monday, but fell back. Insofar as a man even can say
anything at all about such a manipulated market, it appears to be headed lower,
but needs to confirm that with a close lower than 79.35. If I said that the
dollar and all the other scabby fiat currencies were a joke, I'd be slandering
jokes. Yen dropped 0.45% today to 119.44c/Y100 (Y83.82/US$1), but didn't drop
lower than Friday's close, so that bottom at 119.14 remains valid. As valid as
anything might be when talking about unbacked currencies run by political whim
for fundamental corruption. The Euro closed $1.3223, down 0.14% from Monday.
'Tain't able to break through the 20 DMA at 1.3232 so far. I can say this, I'd
rather own euros than have cholera. The enemies of gold are the enemies of
justice and mankind. Here's a little proof (thanks to VP for sending it) from
that well know philanthropist Adolf Hitler: "Gold is not necessary. I have no
interest in gold. We'll build a solid state, without an ounce of gold behind it.
Anyone who sells above the set prices, let him be marched off to a concentration
camp. That's the bastion of money." See, it's easy: the concentration camp is
what all fiat money advocates answer to gold. They may be a little more subtle,
like Alan Greenspan and Ben Bernanke and all the other heads of central banks,
but the concentration camp remains their ultimate answer. I keep on trying to
say things in new and different ways so my constant dinning doesn't deafen
y'all. Here's a new way: if you want to end up living in a cardboard house under
a bridge, keep on counting on stocks. Otherwise, sell them now and put the
proceeds into silver and gold. Stocks today fell. Dow fell 68.94 (0.52%) to
13,170.19. S&P dropped 4.23 (0.30%) to 1,405.52. This is a harbinger only, and
needs further confirmation to call it a break. Next would come a close below the
20 DMA, now 13,021. 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.