Gold Price Close Today : 1,710.90 Gold Price Close 2-Mar : 1,708.80 Change :
2.10 or 0.1% Silver Price Close Today : 3417.5 Silver Price Close 2-Mar : 3448.1
Change : -30.60 or -0.9% Gold Silver Ratio Today : 50.063 Gold Silver Ratio
2-Mar : 49.558 Change : 0.51 or 1.0% Silver Gold Ratio : 0.01997 Silver Gold
Ratio 2-Mar : 0.02018 Change : -0.00020 or -1.0% Dow in Gold Dollars : $ 156.13
Dow in Gold Dollars 2-Mar : $ 156.99 Change : $ (0.86) or -0.6% Dow in Gold
Ounces : 7.553 Dow in Gold Ounces 2-Mar : 7.595 Change : -0.04 or -0.6% Dow in
Silver Ounces : 378.11 Dow in Silver Ounces 2-Mar : 376.37 Change : 1.74 or 0.5%
Dow Industrial : 12,922.02 Dow Industrial 2-Mar : 12,977.57 Change : -55.55 or
-0.4% S&P 500 : 1,370.87 S&P 500 2-Mar : 1,369.63 Change : 1.24 or 0.1% US
Dollar Index : 80.003 US Dollar Index 2-Mar : 79.432 Change : 0.571 or 0.7%
Platinum Price Close Today : 1,689.25 Platinum Price Close 2-Mar : 1,696.30
Change : -7.05 or -0.4% Palladium Price Close Today : 711.25 Palladium Price
Close 2-Mar : 716.20 Change : -4.95 or -0.7% The GOLD PRICE has climbed to the
$1,705 - $1,715 region where it fell through support and went to visit $1,665.
Time to fish or cut bait. Gold stopped just short of its critical 150 DMA
($1,716.23). If it fails here, gold must do further penance wallowing below
$1,700. On the other hand, if it breaches $1,725 - $1,730 on Monday, where
'twill meet the downtrend line from the September high, I would confess it hath
bottomed and buy with both hands. On Comex today the GOLD PRICE gained $12.80,
closing at $1,710.90. In any event, I can't see it falling much below $1,625,
but next week will speedily instruct us. SILVER PRICE lodged beneath 3450c
resistance and spun wheels and spit mud today, but couldn't rise above 3438.
Comex spot month silver ended at 3417.5c, up 38.6c. GOLD/SILVER RATIO dropped
from 50.256 yesterday to 50.063. Silver's crucial 300 DMA awaits, but higher
still, at 3490c. Silver touched but could not penetrate its 20 DMA today. Trend
in force remains in force until violated. Right now silver's trend is down, and
it needs to close above 3460c to gainsay that. There we are, stuck in the limbo
between picking a bottom and waiting for a breakout. Next week will clear the
crystal ball. For all this week's excitement and the metals' stumbling, the
scoreboard didn't change much, except for the US dollar index. Even that doesn't
look to be a great advance, but considering what it recovered from, it looked
good. Y'all try to twist your minds around this. Greece announced that for this
present bond recall deal, 86% of creditors subject to Greek law and 69% of
international bondholders agreed to accept a 74% haircut. Yet today the
International Swaps and Derivatives Association (ISDA), the derivatives industry
group who decides whether a default has occurred and thus triggered payoff for
holders of Credit Default Swaps, said that a Greek default had occurred,
triggering $3 billion of default insurance. Why? The Greek government used a
collective action clause to force the rest of the investors to take the same
deal. Three billion sounds like a lot, but 'taint nothing like paying off the
CDS on all the debt that was re-scheduled. Markets never blinked over the ISDA's
decision. It only further illustrates that the whole "bail out" benefits only
the banks, and not Greece. None of that bail out money will perch in Greece, but
will all fly clean through to the banks. Now Spain, having witnessed the savage
pain dealt out to Greece, is saying it won't take those austerity measures. I
know the Europeans keep kicking these cans down the road, but one of these days,
maybe this year, that can will turn out to be a land mine with 40 or 50 lb. of
C4. The financial and government system has now become nothing more than one
vast criminal enterprise bent on harvesting all the rest of the world that
belongs not to the Elite. They have made themselves the enemies of all honest
men of good will. For now they have their way, sucking the world's blood, but it
will not end well for them. As the Greeks used to say, the wheels of justice
grind slow, but they grind exceeding fine. Keep grinding. After Tuesday's
killing nose dive from 12,970 to 12,740, the Dow laboriously climbed back to a
high today at 12,968 and closed up 14.08 big points (0.11%) at 12,922.02.
Tuesday's break fell out of a lethal rising wedge. Balance of the week's
recovery only form a double top, making the gravitational outcome -- toward
earth's core -- more sure and certain. S&P500 will accompany the Dow. It gained
4.96 today (0.36%) to end at 1,370.87. Stocks -- headed for new discoveries
beneath the earth's crust. US DOLLAR resolved a harrowing two day correction by
shooting straight skyward today and closing above the morale-boosting 80 level
at 80.003, up 86.4 or 1.11%, gigantical for a currency move. IF the buck can
clear 80.12, 'twill shoot for 82. The ever lively Japanese Yen today proved that
you cannot possibly expect too little from any fiat currency. Even though the
Yen has been waterfalling like Iguazu since 1 February, from 131.52c to 121.29c
today (down 7.8%), today demonstrated it hath not stopped yet. Lost 1.07% more
today. NGM in Europe and US are gonna get real mad at the Japanese NGM if they
don't alter the yen's trajectory. On 9 March 1861 the Confederate Congress
authorized bills in denominations of $50, $100, $500, and $1,000. That wasn't a
good omen for their unwillingness to inflate. In fact both North and South
fought the war on inflation, but the South began with less specie so inflated
more. It wasn't until the closing acts of the War that Confederate currency
began its worst losses. 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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