Silver and Gold Prices

Gold Price Closes Down 1.5 Percent this Week Higher Lows than Last Week Confirming Solidarity

2012-05-25T17:34:00.007-04:00

Gold Price Close Today : 1,568.80
Gold Price Close 18-May : 1,591.60
Change : -22.80 or -1.5%

Silver Price Close Today : 2837
Silver Price Close 18-May : 2869
Change : -0.32 or -1.1%

Platinum Price Close Today : 1,424.70
Platinum Price Close 18-May : 1,457.10
Change : -32.40 or -2.3%

Palladium Price Close Today : 589.95
Palladium Price Close 18-May : 603.25
Change : -13.30 or -2.3%

Gold Silver Ratio Today : 55.30
Gold Silver Ratio 18-May : 55.48
Change : -0.18 or 1.00%

Dow Industrial : 12,529.75
Dow Industrial 18-May: 12,442.49
Change : 87.26 or 0.7%

US Dollar Index : 82.27
US Dollar Index 18-May : 81.50
Change : 0.77 or 0.9%

Here's a quick note on the silver and GOLD PRICE from The Moneychanger in Alaska:

With Wednesday's closes below both Thursday and Friday, we saw a decline to a higher low than last week. This confirms the solidity of last week's low prices in the GOLD PRICE and the SILVER PRICE, meaning there is a very low risk of buying now.

The GOLD/SILVER RATIO is the gold price divided by the silver price, & shows how many ounces of silver it takes to buy one ounce of gold. The Ratio shows us the Primary (20 year) Trend of gold's value against silver. When the Ratio's trend is dropping, silver is gaining value against gold. This trend targets a gold/silver ratio of 16 ounces of silver to one of gold within the next 5 - 10 years. That implies that silver will massively, vastly outperform gold before this bull market ends. When both metals are rallying, the ratio often (but not always) drops, confirming the rally.

The DOW IN GOLD DOLLARS measures the Dow Jones Industrial Average in gold dollars (0.048375 troy oz. by law). The DiG$ depicts the Primary (20 year) Trend of stocks against gold. When the DiG$ is dropping, gold is gaining value against stocks in a trend that should last 15 - 20 years. The DiG$'s chart is identical to the Dow in ounces of gold, but gives us one unvarying measure all the way back to 1896. Because it shows the primary trend ("tide") of gold against stocks, for investors it is the single most important financial chart in the world today. Since its August 1999 high at G$925.42 (44.8 ounces), the DiG$ has trended down, targeting a G$41.34 - G$20.67 (2 - 1 oz. of gold will buy the whole Dow).

The DOW IN SILVER OUNCES shows how many ounces of silver are needed to buy the entire Dow. The DiSoz is trending down with a target of under 36 ounces.

The US DOLLAR INDEX is a average exchange rate for the US dollar against the Euro, Yen, Pound sterling, Canadian Dollar, Swiss Franc, and Swedish Krona, weighted for each country's trade with the US. It gives a general measure of the US dollar's performance against all other currencies.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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. No, I don't.

The Gold Price Closed $1,557.30 up $9.20

2012-05-24T19:39:00.001-04:00

Gold Price Close Today : 1,557.30
Change : 9.20 or 0.6%

Silver Price Close Today : 28.14
Change : .63 or 2.2%

Platinum Price Close Today : 1,420.60
Change : 8.30 or 0.6%

Palladium Price Close Today : 587.40
Change : -3.55 or -0.6%

Gold Silver Ratio Today : 55.34
Change : -0.95 or 0.98%

Dow Industrial : 12,496.15
Change : -6.66 or -0.1%

US Dollar Index : 82.03
Change : 0.28 or 0.3%

Franklin will be away until June 4th and wont be publishing commentary until that time.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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. No, I don't.

Gold Price Down 1.8 Percent Closing $1,548.10

2012-05-23T20:46:00.001-04:00

Gold Price Close Today : 1,548.10
Change : -28.20 or -1.8%

Silver Price Close Today : 27.50
Change : -.66 or -2.4%

Platinum Price Close Today : 1,412.30
Change : -44.10 or -3.1%

Palladium Price Close Today : 590.95
Change : -24.35 or -4.1%

Gold Silver Ratio Today : 56.29
Change : 0.32 or 1.01%

Dow Industrial : 12,502.81
Change : -1.67 or 0.0%

US Dollar Index : 81.75
Change : 0.12 or 0.1%

Franklin will be away until June 4th and wont be publishing commentary until that time.

The Gold Price Lost $12.10 Closing Comex $1,576.30

2012-05-22T21:31:00.000-04:00

Gold Price Close Today : 1,576.30
Change : -12.10 or -0.8%

Silver Price Close Today : 28.16
Change : -.14 or -0.5%

Platinum Price Close Today : 1,456.40
Change : -3.10 or -0.2%

Palladium Price Close Today : 615.30
Change : 4.80 or 0.8%

Gold Silver Ratio Today : 55.98
Change : -0.15 or 1.00%

Dow Industrial : 12,504.48
Change : 135.10 or 1.1%

US Dollar Index : 80.94
Change : -0.14 or -0.2%

Franklin will be away until June 4th and wont be publishing commentary until that time.

The Gold Price Down $3.20 Closing $1,588.40

2012-05-21T22:37:00.003-04:00

Gold Price Close Today : 1,588.40
Change : -3.20 or -0.2%

Silver Price Close Today : 28.30
Change : -.39 or -1.4%

Platinum Price Close Today : 1,459.50
Change : 2.40 or 0.2%

Palladium Price Close Today : 610.50
Change : 7.25 or 1.2%

Gold Silver Ratio Today : 56.13
Change : 0.65 or 1.01%

Dow Industrial : 12,369.38
Change : -73.11 or -0.6%

US Dollar Index : 81.08
Change : -0.42 or -0.5%

Franklin will be away until June 4th and wont be publishing commentary until that time.

The Gold Price Turned Around Rising $17.10 on top of Yesterday's $38.30 to Close $1,591.60

2012-05-18T19:12:00.004-04:00

Gold Price Close Today : 1,591.60
Gold Price Close 11-May : 1,583.60
Change : 8.00 or 0.5%

Silver Price Close Today : 28.69
Silver Price Close 11-May : 28.85
Change : -0.16 or -0.6%

Platinum Price Close Today : 1,457.10
Platinum Price Close 11-May : 1,469.10
Change : -12.00 or -0.8%

Palladium Price Close Today : 603.25
Palladium Price Close 11-May : 602.95
Change : 0.30 or 0.0%

Gold Silver Ratio Today : 55.48
Gold Silver Ratio 11-May : 54.89
Change : 0.58 or 1.01%

Dow Industrial : 12,442.49
Dow Industrial 11-May: 12,855.04
Change : -412.55 or -3.3%

US Dollar Index : 81.50
US Dollar Index 11-May : 80.18
Change : 1.32 or 1.6%

THIS WAS THE WEEK THAT THE SILVER & GOLD PRICE TURNED AROUND. Ahh yes, the day dawned, the sky cleared, and that support at $1,526.70 HELD. Do I flatter myself, or did the entire mood in the metals' markets change? Our phones have been ringing off the wall, well, off the desk.

Today the GOLD PRICE gold rose another $17.10 on top of yesterday's $38.30 to close Comex at $1,591.60. Gold rapped on the door of $1,600 with a $1,597.50 high. To maintain this V-bottom pattern, gold must climb quickly through $1,600, $1,630, & then the killer $1,682. Look for at least two of those barriers to fall next week.

Stop waiting to buy gold & silver. Do it NOW.

SILVER PRICE held that support from Oct 11 & Dec 11 (2615c). Low came at 2673c on Wednesday. Silver must now advance through 2900 & jump right smart toward 3000c. Tougher battles will be fought at 3150c.

That's it. That confirms the December low was indeed the low. That turns silver & gold's direction upward again. Only closes below 2673c & $1,526.70 could gainsay that conclusion.

With the lows in silver & gold the GOLD/SILVER RATIO TOPPED at 56.540. Today it floats still at 55.468. If you have not yet swapped gold for silver, you must act quickly. The ratio can fall fall with blinding rapidity. Do not miss this opportunity to set yourself up for another gigantic profit-in-ounces when the ratio again falls to where 28 silver ounces will buy one gold ounce, instead of 55.468.

This week marked the turning point for this correction. Now silver & gold have turned their faces up, toward those old highs at $1,927 & 4982c. Climb aboard, or miss the ride!

Facebook's IPO fell flat on its face today, down several times as low as the $38 offering price, & up on the day only 1%. Not a blistering success when IPO's usually gain 10 - 15%. That's a sour comment on investor interest and the mood of the stock market.Yesterday I warned y'all -- natural born fool from Tennessee that I am -- that the euro was "monstrously oversold" ought to watch for a sudden rally. It happened today, when the euro rose 0.66% to $1.2778. Eyeing a record short position, traders bailed out -- or were squeezed out -- before the G8 summit this weekend. Y'all already know how those Nice Government Men like weekend surprises.

First half of this year mine was probably the only voice in the known universe -- well, one of the few anyhow -- warning y'all that the stock market rally was a trap. The trap has been sprung, & I don't look near about so foolish now. Not that I'm the brightest bulb in the box, I just read labels before I drink contents.
Label on this stock market is "BEAR: Primary Downtrend. Caution, can be hazardous to your solvency & your retirement."

S&P500 touched 1,291 today. Now why would I mention that price? I'm right glad y'all asked. The S&P500 formed a head & shoulders topping pattern beginning in February, and two weeks ago fell through the neckline, signalling a breakdown. From that breakdown at 1,360, it has dropped 8 of the last 9 days, & today opened the trap door at 1,300 & jumped through, closing down 9.64 (0.74%) at 1,295.22. But why 1,291? Because that was the top of the last wave up in November. Should it pierce that support, this battle will get bloody indeed.

The Dow, which closed today at 12,369.38 (down 73.11 or 0.47), took longer to complete its head & shoulders but falling 12 out of the last 13 days helped a bunch.
Dow broke that neckline (about 12,650) two days ago and fell like a drunk at a bar knocking back one too many Tequila shooters.

Both the S&P500 & the Dow are nearing their 200 day moving average (Dow's is now 12,199 & S&P's is 1,278.22) which ought to provide some support for a bounce. After that, doom will resume.

US DOLLAR INDEX fell 36.8 basis points (0.47%) today to 81.125. High came at 81.758, which pert near matches the January peak at 81.78. Not clear to me yet whether the dollar will keep on rallying through 81.78 after a correction. Yen jumped broad and high yesterday and today, up 0.36% today to 126.57c/Y100 (Y79.00/US$1).

I keep picturing a stranger from outer space. He lands on my farm and wants me to tell him about our world. I try to put the best face on things that I can, but he keeps going back to the monetary system: "You use WHAT for money?" I'm so embarrassed I want to dig a hole and crawl in.

I will be away on a cruise from tomorrow through June 1. I won't be publishing commentaries during that time, but the turnaround in silver & gold make your course plain anyway.

Y'all enjoy your weekend!

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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. No, I don't.

The Gold Price Rose $38.30 Can it Climb Above $1,580 Tomorrow to Confirm Reversal?

2012-05-17T18:42:00.005-04:00

Gold Price Close Today : 1574.50
Change : 38.30 or 2.49%

Silver Price Close Today : 2799.60
Change : 82.6 cents or 3.04%

Gold Silver Ratio Today : 56.240
Change : -0.300 or -0.53%

Silver Gold Ratio Today : 0.01778
Change : 0.000094 or 0.53%

Platinum Price Close Today : 1449.30
Change : 26.40 or 1.86%

Palladium Price Close Today : 601.65
Change : 12.35 or 2.10%

S&P 500 : 1,304.86
Change : -19.94 or -1.51%

Dow In GOLD$ : $163.36
Change : $ (6.16) or -3.63%

Dow in GOLD oz : 7.903
Change : -0.298 or -3.63%

Dow in SILVER oz : 444.44
Change : -19.26 or -4.15%

Dow Industrial : 12,442.49
Change : -156.06 or -1.24%

US Dollar Index : 81.52
Change : 0.174 or 0.21%

The GOLD PRICE rose 38.30 (up 2.5%) to end at $1,574.50. It left behind a double bottom on Wednesday at $1,527.7 and worked its way up to $1,550. In Europe it danced just under $1,550, then at 8:00 a.m. jumped to $1,557, traded sideways, then gapped up at $1,557 levitated, gapped again ($1,563-$1,566) and shot for $1,580. Closed near the top of the range.

Folks, metals are strong as a garlic milkshake. To preserve that spike bottom for posterity, gold needs to climb above $1,580 tomorrow and confirm its intent. Milestones of success after that are $1,600, then $1,630. The GOLD PRICE must overcome these quickly, and that I expect to see.

The SILVER PRICE has made an upside down head and shoulders reversal, forming the head Wednesday. Before New York opened silver temporized between 2770c and 2738, then about 8:00 followed gold up in the same pattern. Ended the day up 82.6c (3%) at 2799.6c.

2800c will become the new floor for silver. Past three weeks of silver show a cascading blow-off bottom. Today reversed that. Silver will rapidly jump over 2900c to 3000c. Odd to say it because summer is seasonally the metals' sleepy season, but silver could stand at 3400c by end-June.

Whatever evil spell the Central Banking Wizards had cast over silver and gold was broken today. Enough realizers grasped all at once that a bodacious wave of inflation is inevitable, and ran to buy silver and gold. Now the magic is gone, and the Wizards only look like silly bureaucrats in pointed hats, waving little wands like conductors without a symphony.

I will ice this cake by noting that three days ago silver reached its low percentage for this correction against its 300 day moving average. That often pinpoints a reversal.

Better swap GOLD for SILVER now. Ratio may have topped yesterday. Confirming a reversal in gold and silver, premiums on physical silver and gold are rising rapidly, and that will hurt our realized ratio in a swap. If you plan to swap gold for silver, you'd better do it quickly.

That's it. Silver and gold might once bend backward again toward their lows, but evidently the lows were posted yesterday. More about that below.

The euro continues to crumble before the US dollar. The Dollar index today rose another 17.4 basis points (0.22%) to end at 81.516. First barrier to further rise appears at 81.78, the January high. Euro lost 0.18% today to close at $1.2692, not far from the January low at $1.2609. Monstrously oversold, so watch out for a sudden rally. The NGM like to snare currency traders that way.

Making good on the promise of that head and shoulders that's been forming since January, the Dow today sliced through its neckline to lose 156.06 (1.24%) and ended at 12,442.49. (S&P lost 19.94 or 1.51% to 1,304.86. It has lost 100 points in ten days.)

Yesterday the Dow in Gold dollars, which has been forming a diamond, well, really a megaphone, yesterday made a marginal new high at G$169.53 (8.201 oz) and today crumpled to G$163.36 (7.903 oz). Dow in silver ounces plunged from 463.69 oz yesterday to 444.44 oz today. Both have topped. That's your turn of metals against stocks. They have unlatched themselves from stocks, and from currencies, too.

That silver and gold strength in the face of a blooming dollar and withering euro loudly confirms metals' strength.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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. No, I don't.

The Gold Price Down and Monstrously Oversold as Euro Crisis Looms Must Rally Soon

2012-05-16T17:45:00.004-04:00

Gold Price Close Today : 1536.20
Change : (20.60) or -1.32%

Silver Price Close Today : 2717.00
Change : 88.4 cents or -3.15%

Gold Silver Ratio Today : 56.540
Change : 1.047 or 1.89%

Silver Gold Ratio Today : 0.01769
Change : -0.000334 or -1.85%

Platinum Price Close Today : 1422.90
Change : -36.00 or -2.47%

Palladium Price Close Today : 589.30
Change : -10.50 or -1.75%

S&P 500 : 1,324.80
Change : -5.86 or -0.44%

Dow In GOLD$ : $169.53
Change : $ 1.82 or 1.08%

Dow in GOLD oz : 8.201
Change : 0.088 or 1.08%

Dow in SILVER oz : 463.69
Change : 13.42 or 2.98%

Dow Industrial : 12,598.55
Change : -33.45 or -0.26%

US Dollar Index : 81.44
Change : 0.180 or 0.22%

The GOLD PRICE made a low at $1,527.70, practically on my target. Silver posted its low at 2676 c, not far off 2615c support.

Both the silver and GOLD PRICE are coasting along on their bottom Bollinger Bands, something that hasn't happened since fall 2008. Implication? Silver and gold are monstrously oversold, and will shortly come roaring back with a rally, even if only a temporary one.

End of this decline ought to come within a week at most, but that euro crisis hangs over everything, scaring everyone to death, much like the 2008 panic in the US.

Against moving averages the SILVER PRICE has moved to its percentages posted at the December low, and a little further. This must stop soon, or suffer another big slide. I am voting for "stopping soon", because the ECB has pumped massive new money into banks, and should the euro crisis threaten contagion, Ben the Bernancubus will start printing money as if he were Ben Franklin and his own picture was on the bills.

GOLD/SILVER RATIO continues to rise, closed today at 56.540. If you swapped silver for gold within the last 18 months, right now you ought to be swapping back.

Today I am finishing my monthly Moneychanger newsletter for paid subscribers, so have very little time. US Dollar index continued to gain today, more evidence that fear is strangling markets.

Hang on, don't lose your head. One of these days all this pain will be past.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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. No, I don't.

The Gold Price Lost $3.80 Here are the Reasons for a Turnaround this Week

2012-05-15T17:48:00.004-04:00

Gold Price Close Today : 1556.80
Change : (3.80) or -0.24%

Silver Price Close Today : 28.054
Change : (0.265) cents or -0.94%

Gold Silver Ratio Today : 55.493
Change : 0.385 or 0.70%

Silver Gold Ratio Today : 0.01802
Change : -0.000126 or -0.69%

Platinum Price Close Today : 1430.70
Change : -12.30 or -0.85%

Palladium Price Close Today : 594.25
Change : -0.60 or -0.10%

S&P 500 : 1,330.66
Change : -7.69 or -0.57%

Dow In GOLD$ : $167.73
Change : $ (0.41) or -0.25%

Dow in GOLD oz : 8.114
Change : -0.020 or -0.25%

Dow in SILVER oz : 450.27
Change : 1.98 or 0.44%

Dow Industrial : 12,632.00
Change : -63.35 or -0.50%

US Dollar Index : 81.25
Change : 0.595 or 0.74%

Metals slowed their downward trajectory a bit the GOLD PRICE lost $3.80 (0.24%) to $1,556.80 silver lost 26.5 cents (0.94%) to 2805.4c.

I've been musing and musing on this, trying to take my own medicine and remember not to let a correction cast me down. Here are a few items that point toward it ending:

** Dow in silver double topped today at 450.20, matching its end-December top.

** Dow in Gold Dollars closed slightly over its end-December top.

** Buy-side premium for US 90% silver coin has climbed from an 80 cent per ounce discount to a 50 cent per ounce discount. That premium usually rises at lows.

** On 28 December 2011 silver reached its low against its 300 DMA at 80.2%. Next day, the day it bottomed, that percentage rose. Last two days silver repeated that performance. Seems crazy that the slow moving 300 DMA would pinpoint bottoms, but I reckon silver is so volatile and moves so fast that it works that way. Has in the past.

Let us hear the worst of the matter: the GOLD PRICE might yet drop to $1,525 and silver to 2615c.

But the SILVER PRICE has not been this oversold since last September, and before that since 2008. Gold's RSI is MORE oversold than last September, and you have to stretch back to fall 2008 to find it any more oversold.

Of the last 11 days, gold has declined 9. Silver has fallen 11 out of the last 12 days.

All these things argue for a rally in silver and gold soon. In the aftermarket today silver fell 40 cents and gold $12.50. Is that exhaustion selling? May be.

Today gold's low came at $1,541.53 and silver's at 2756c. Right now they are trading barely above those lows. Watch for more exhaustion and a turnaround this week.

GOLD/SILVER RATIO rose to 55.493 today. Time to swap gold for silver. Don't miss this opportunity. That ratio is notoriously quick to turn.

I've been thinking about this mess -- I mean this long, demoralizing silver and gold correction. You can only know after events prove your judgement, but I think I'm close to an answer.

Greece's feared new elections and possible withdrawal from the euro have markets moiled and sweating. What do they do when they're worried, God have mercy on 'em? They run to US dollars, which they see as "safety." Me, I see that as escaping a lion by running into a bear's den -- with the bear inside. I reckon they'll discover that.

US dollar index not only gained 59.5 basis points (0.77%) today but also cut through 81 like Napoleon through Italy. Shot straight up, and keeps on trying to steal the next base in the aftermarket. Dollar has now passed its last high and is working on passing its March high (80.74), maybe tomorrow. Dollar has risen for 11 days without a break, and as it slices through those resistance zones, bids fair to climb even more.

The euro took a tough beating with a big club. Lost 0.73% to $1.2732. Remember when -- a few days ago -- it seemed that $1.3000 would catch it? After gapping down yesterday, the euro's plunge accelerated today. Euro is more oversold than high heel shoes to women, but fear can make it more oversold still. Watch out for a short-covering rally that catches all those shorts, well, with their shorts down.

Yen lost 0.47% today to end at 124.62 cents (Y08.24/US$1). Yen may have spent all its fuel here. A rise above 126 would disprove that suspicion.

STOCKS tried to rally through 12,750, but when they got near that resistance, it hit 'em like Roundup sprayed on dandelions and knocked em dead. Owch, a lower low today, too (12,608). Is there comfort for stock investors in the S&P500? Well, Dow closed 12,632, down 63.35 (0.5%) and the S&P lost 7.69 (0.57%) to end at 1,330.66. Not as much comfort as a pillow full of two-inch bolts.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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. No, I don't.

Gold Price Lost $23 Ending at $1,560.60 Next Logical Stop is $1,523.90

2012-05-14T18:51:00.004-04:00

Gold Price Close Today : 1560.60
Change : (23.00) or -1.45%

Silver Price Close Today : 2831.90
Change : 53.9 cents or -1.87%

Gold Silver Ratio Today : 55.108
Change : 0.232 or 0.42%

Silver Gold Ratio Today : 0.01815
Change : -0.000077 or -0.42%

Platinum Price Close Today : 1443.00
Change : -15.90 or -1.09%

Palladium Price Close Today : 594.85
Change : -4.95 or -0.83%

S&P 500 : 1,338.35
Change : -15.04 or -1.11%

Dow In GOLD$ : $168.16
Change : $ 0.82 or 0.49%

Dow in GOLD oz : 8.135
Change : 0.040 or 0.49%

Dow in SILVER oz : 448.30
Change : 4.03 or 0.91%

Dow Industrial : 12,695.35
Change : -125.25 or -0.98%

US Dollar Index : 80.64
Change : 0.342 or 0.43%

The GOLD PRICE lost $23 today and ended at $1,560.60. The SILVER PRICE lost 53.9 cents to close at 2831.9c. Bloody, as I warned.

The GOLD PRICE high today at $1,582 never even reached Friday's $1,583.6 close. Gold posted a new low for the move, and of course these lower prices have demolished any thought of a rally from that now spoiled falling wedge. Gold stopped today at a $1,556.10 low, about the location ($1,562.50) of its next to the last December low. Ultimate low came at $1,523.90. Most likely this gold decline, which has lasted now 11 weeks, is nearing its completion. Still, that last (December) low at $1,523.90 is the next logical stopping place. RSI is more oversold than it was at the December low.

The SILVER PRICE 2819c low today matched its early December 2312c low. Comparing silver's position against its 300 day moving average today shows it at the same percentage asat the December low. Nothing says it cannot tumble more, but that number and other moving averages suggest silver will find its feet sometime soon. Ultimate December low was 2615c, making that the logical target. Personally I am guessing it will stop around 2800c.

GOLD/SILVER RATIO today inched over 55 to stop at 55.107. If you still have gold to swap for silver and no longer want to wait for my 57.5 target, I wouldn't blame you for swapping here.

Have y'all ever watched a cat staring at a mouse hole in the woodwork? He stares and stares with infinite patience, until at last he snares a mouse. Right now, silver and gold investors have to possess that selfsame patience.

On Friday I warned y'all it could be a bloody week. The bloodletting started early.

US DOLLAR INDEX continues to rise. During the day it added 34.2 basis points (0.44%) to trade at 80.643, and in the last couple of hours in the aftermarket it has risen to 80.696. Dollar strength stabbed the euro today. It lost 0.74% for a new 4-1/2 month low. 'Twas only lower at the bottom it made middle of January ($1.2624). Euro gapped down today and wound up at $1.2824. Watch out! Everybody in the world is short euros, which sets the market up for a sudden, sharp (as in knife in your back) rally. The yen temporized, rose 0.9% to 125.23c (Y79.85/US$1). Trending treetop-ward.

Between the dollar index and 89 stands only thin resistance about 81.75. Of course, who can scope out, much less foretell, what will move the minds of central banking Nice Government Men? Today they're all strong dollar, tomorrow without warning they go weak dollar. This is not a rational undertaking, so we just look at the chart and watch.

Folks are confused about why stocks and silver and gold are moving together. Life is more subtle than you might expect. Inflation drives both stocks and silver and gold as people run to buy real things to escape depreciating currency. At some remove, stocks do represent the brick and mortar of the underlying firm (if they have any bricks or mortar and not merely software and a website), but because stocks' performance is bound to the economy and because inflation wrecks an economy, stocks never perform as well as silver and gold over the life of an inflation. Far less profitable.

However, that's the long term and in the short term investors have convinced themselves that the dollar (in the teeth of the European crisis) is "low risk" and everything else is "high risk," and they are running for cover. This will pass, and stocks and metals again decouple when inflation perceptions again rise.

Proof that stocks underperform is found on the Dow/Gold or Dow/Silver chart. So far stocks have lost about 80% of their value against metals. They will lose another 80% or more before this inflationary episode or Depression ends.

Look at the five-day Dow chart at http://quotes.ino.com/chart/?s=INDEX_DJI You can plainly see that it breached support put in place from Wednesday to Thursday around 12,800. Thence it fell nearly to 12,650, so 12,800 now becomes resistance to any Dow rally.

Dow closed today at 12,695.35, down 125.25 or 0.98%. S&P 500 lost 15.4 (1.11%) to 1,338.35.

Dow in Gold Dollars offers the only question mark here. It has NOT been falling. That is, both stocks and gold have fallen, but gold has fallen minutely more. This sends the DiG$ bumping against its last high. Why doesn't that signal it is about to break higher? Because it has formed a diamond, a topping formation, and these frustrating patterns, especially in slow turning stocks, can take a long time to finish.

Please note that I will be traveling from 19 May through 1 June, and will not be publishing commentaries during that time. I will, however, have prices sent to y'all daily. Yes, I am taking a vacation with my wife, doing something we never before have done: taking a cruise.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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. No, I don't.

Gold Price was Hammered Hard this Week Down $61.10 Gains Made Swapping Gold into Silver

2012-05-11T18:09:00.006-04:00

Gold Price Close Today : 1,583.60
Gold Price Close 4-May : 1,644.70
Change : -61.10 or -3.7%

Silver Price Close Today : 2885.8
Silver Price Close 4-May : 3038
Change : -152.20 or -5.0%

Gold Silver Ratio Today : 54.876
Gold Silver Ratio 4-May : 54.138
Change : 0.74 or 1.4%

Silver Gold Ratio : 0.01822
Silver Gold Ratio 4-May : 0.01847
Change : -0.00025 or -1.3%

Dow in Gold Dollars : $ 167.36
Dow in Gold Dollars 4-May : $ 163.87
Change : $ 3.48 or 2.1%

Dow in Gold Ounces : 8.096
Dow in Gold Ounces 4-May : 7.927
Change : 0.17 or 2.1%

Dow in Silver Ounces : 444.27
Dow in Silver Ounces 4-May : 429.17
Change : 15.09 or 3.5%

Dow Industrial : 12,820.60
Dow Industrial 4-May : 13,038.27
Change : -217.67 or -1.7%

S&P 500 : 1,353.39
S&P 500 4-May : 1,369.10
Change : -15.71 or -1.1%

US Dollar Index : 80.286
US Dollar Index 4-May : 79.505
Change : 0.781 or 1.0%

Platinum Price Close Today : 1,458.90
Platinum Price Close 4-May : 1,523.80
Change : -64.90 or -4.3%

Palladium Price Close Today : 599.80
Palladium Price Close 4-May : 649.90
Change : -50.10 or -7.7%

It's been a long while since the silver and GOLD PRICE (let alone the platinum metals) have been hammered this hard in one week. GOLD lost $61.10 (3.7%), Silver lost 152 cents or 5%. Stocks are wallowing in deep swells, too, down 1.7%. To what do we owe all this joy? The US dollar rose 1% last week. Well, and the euro coming unraveled like Frankenstein at the stitching.

Clearly, I read the metals wrong yesterday. Today they contradicted yesterday's hopeful signs by closing below yesterday's lows. Gold has all but invalidated its falling wedge formation and silver already has, tumbling down out of the formation.

The GOLD PRICE gave up $11.50 to close Comex at $1,583.60. Silver misplaced 27.8 cents to end at 2885.8c.

Gold was driven down to $1,572.34 long before New York opened, climbed to $1,590.50 by 10:30, then lost energy the rest of the day.

Now that the GOLD PRICE has fallen to $1,583.60, it's time to reckon what will happen if this level holdeth not. First support appears at the low- before-last in December at $1,562.50, next steps forth at $1,535 - $1,525. Next week promises to be bloody unless gold can scramble back above $1,600.00

Only bright spot in today's trading for me was making a lot of swaps from gold back into silver. One customer had a 47% gain in silver ounces over the silver he traded in last year. Now most of them were in the 10% to 25% range, but still, that's not a bad gain for an investment that payeth no interest or dividends.

The SILVER PRICE made a new low for this move at 2844.6c. High could not rise above 2910c. Next support for silver hides at 2812c, the early December low, but reaching the ultimate December low at 2615c does not lie outside possibility.

I am aware how gloomy all this seems, but the SILVER RSI has dipped below 30, indicating it is heavily oversold. MACD is falling still, but hasn't neared December's lows. About the time y'all think it’s the end of the world -- or the bull market at least -- silver and gold will surprise you. Legendary oilman H.L. Hunt said, "Never get really elated in victory; when times are tough, never get down." I may be as self-deceived as an ugly rich boy in love with a show girl, but I expect lows are near. May see them next week, although you'll feel as if somebody threw you into a cement mixer by the time it's over.

It all boils down to this: What do you trust? The paper money system, that since 1913 has dragged the dollar down from $20.6718 to the gold ounce to $1,583.60 today? The system that picks your pocket every day, and worse, is now run by thieves, incompetents and tapeworms? Or gold and silver, which mankind has valued since the sun came up on Eden? When I talk about this some folks laugh at me and point out that the system has been chugging away since 1913. This differs nothing from telling me that a 1913 Stanley Steamer is a great car because it still runs. The world can no longer afford parasite capitalism, crony central banks, crooked banks, and prosperity-through-government-borrowing. It's breaking up, and I'd rather belong to the new world building than the old world dying.

But y'all hang on to them yankee dollars. I understand Confederate money is worth more than its face value today.

US DOLLAR INDEX today is trading 11.7 basis points (0.15%) higher. Greek politicians of the left won't be able to form a government, so more elections will probably be announced this weekend, according to a friend of mine there. If so the euro will gap down on Monday's open and dollar will rise more.

Adding fuel to the dollar's tank were JP Morgan Chases revelations that it lost $2 billion in 6 weeks on derivatives. Mmmm. . . If THEY can't do it, who can? CEO Jamie Diamond's admissions raise further doubts about other big banks. Where have all the adults gone? Who put these ridiculous infants in charge?

STOCKS had a ragged day, falling off the opening, rising, then falling for the day. Dow lost 34.44 (0.27%) to 12,820.60. S&P500 lost 4.6 (0.34%) to close at 1,353.39. Dow in Gold Dollars remains hovering near the top of its diamond formation, not yet ready to yield and fall.

End to all discussions of whether stocks will soar or sink stands in those head and shoulders tops on the S&P500 and Dow's charts. S&P500 drilled through the neck line earlier in the week -- a "break down" -- rose back to the neck line for a final kiss good-bye yesterday, then plunged again today. Dow has all but penetrated the neckline of its own HandS, and will do when it crosses 12,650. MACD and RSI indicators both point earthward, and volume has risen on the decline. Add to that the seasonal summer desert approaching for stocks: "Sell in May, and go away."
Somebody explain to me what cause for optimism lurks here.

Y'all enjoy your weekend!

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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. No, I don't.

The Gold Price Closed Comex $1,595.10 Silver and Gold Ready to Rise

2012-05-10T19:14:00.004-04:00

Gold Price Close Today : 1595.10
Change : 1.40 or 0.09%

Silver Price Close Today : 2913.6
Change : 6.1 cents or -0.21%

Gold Silver Ratio Today : 54.747
Change : 0.162 or 0.30%

Silver Gold Ratio Today : 0.01827
Change : -0.000054 or -0.30%

Platinum Price Close Today : 1485.70
Change : -12.70 or -0.85%

Palladium Price Close Today : 614.85
Change : 0.85 or 0.14%

S&P 500 : 1,357.99
Change : 3.41 or 0.25%

Dow In GOLD$ : $166.60
Change : $ 0.13 or 0.08%

Dow in GOLD oz : 8.059
Change : 0.006 or 0.08%

Dow in SILVER oz : 441.21
Change : 1.61 or 0.37%

Dow Industrial : 12,855.04
Change : 19.98 or 0.16%

US Dollar Index : 80.17
Change : 0.310 or 0.39%

I the silver and GOLD PRICE with a better will and more gladsome mind than I've had in more than a week.

I watched them trading this morning from early on. About 6:00 a.m. EDT the GOLD PRICE hit the trough of a fall from $1,596 to $1,585.90. From there it rose strongly until it peaked at $1,600.90 just before 10:00. Dropped back to $1,592, then oscillated between $1,597 and $1,592 the rest of the day. Comex closed up $1.40 at $1,595.10. That's all well and good, but that's not really what my eye was feeding on. Let me tell you about silver first.

The SILVER PRICE ended the day 6.1c lower at 2913.6c.

Silver's progress mirrored gold's, with a fall from 2935c about 4 a.m. to 2893c about 6:00 a.m. Climbed till 10 up to 2945c, then backed off to end the day spinning between 2910 and 2895c.

Here's what I watched unfold on silver's 5-day chart that entranced me. Tuesday had traced out a mid day low about 2910c, an upside down left shoulder perhaps? Wednesday declined and drew out a head with a mid-day low about 2860c, then it climbed over 2920. Today it traced out the second (right) shoulder with a low at 2893c and a rise to that neckline at 2945c. More than that, the shoulder itself was formed as an upside down head and shoulder as I watched, like nesting Russian dolls. Gold's chart was not as pellucid, but followed the same pattern.

Now all this will be moonbeams and gainsaid if silver breaks 2995 tomorrow. On the other hand, it could found a rally that would reach at least 3040c before it stops.

If you are short silver, or intend to buy more, this constellation favors taking a chance. On gold, too.

GOLD/SILVER RATIO today closed at 54.747, and I am really tiring of waiting for a higher ratio. Ratio can turn and savage you -- fall like a brick -- without warning. If you swapped silver for gold at 49.80 last year, you can swap back into silver today with a 12.6% profit. Best think hard about taking the profit and scooting.

My, O, my, finally an interesting day! Nothing seen clearly yet, but the haze is beginning to dissipate. Maybe.

US DOLLAR INDEX barely rose, 3 basis points to 80.169. That was enough room for all the markets battered for the last 8 days to lift their heads up for a breath.

Dollar now at a crossroads where it will either advance toward 89, or fall away toward the 2008 low near 70. No, I don't know which, but lean toward the rally, which would last probably six months, although it hard to imagine that anybody would want to hold dollars if O'Bama is re-elected in the fall. Rally will blow a headwind against silver and gold, but they've already reached their bottoms, although it will be a long, painful climb back to their last highs and above. That could well eat up another six months.

Euro bounced today, not high enough to change anything. Yen lost 0.46% to 125.02c (Y79.99/US$1). Still points toward the clouds.

Like the famous cat dropped from a ten story building, STOCKS bounced today. Bounce took the S&P500 up for a (likely) kiss good-bye to the neckline it fractured two days ago on its way to meet gravity at the earth's core. Dow still has not reached the neckline with its final (right) shoulder, but it stands outside hailing distance of its 50 DMA (13,055) and 20 DMA (13,050), so inertia is pulling it down.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
1-888-218-9226
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. No, I don't.

The Gold Price Tumbled Again With an Ominous Low of $1,580.54 Closing $1,593.70

2012-05-09T18:54:00.003-04:00

Gold Price Close Today : 1593.70
Change : (10.30) or -0.64%

Silver Price Close Today : 2919.70
Change : 21.7 cents or -0.74%

Gold Silver Ratio Today : 54.584
Change : 0.053 or 0.10%

Silver Gold Ratio Today : 0.01832
Change : -0.000018 or -0.10%

Platinum Price Close Today : 1498.40
Change : 1,347.80 or 894.95%

Palladium Price Close Today : 614.00
Change : -9.40 or -1.51%

S&P 500 : 1,354.58
Change : -9.14 or -0.67%

Dow In GOLD$ : $166.48
Change : $ (0.16) or -0.10%

Dow in GOLD oz : 8.054
Change : -0.008 or -0.10%

Dow in SILVER oz : 439.60
Change : -0.06 or -0.01%

Dow Industrial : 12,835.06
Change : -97.03 or -0.75%

US Dollar Index : 80.16
Change : 0.248 or 0.31%

Today the GOLD PRICE tumbled again, down $10.30 to close beneath $1,600 at a morale bruising $1,593.70, but only $2 from the high. Low was an ominous $1,580.54. That is probing the bottom boundary of the falling wedge. Resolving that usually bullish falling wedge with a plunge would be very bad juju.

On both the five day silver and GOLD PRICE charts there begins to form an upside down Hands that will signal a reversal, IF gold falleth not through $1,580 (today's low) and silver toppleth not through 2860c.

The SILVER PRICE pricked the bottom boundary of that falling wedge with its 2861 cent low, but closed within the wedge. Is that an aberration or a violation? Silver is sloppy in observing chart lines, often spiking over or under without following through. No way to know until it follows through up or down.

Silver closed near the 2931c high of today's range, losing 21.7c to close 2919.7c on Comex.

Checking silver as a percentage of its various moving averages, it is approaching last December's low readings. Unless silver intends to make this a mighty slump indeed, that whispers that an end to this decline draws nigh.

Mmmm. Why do the 5 day Dow, GOLD, and silver charts look so much alike? Something ain't right. Over the long term, stocks and gold and silver move opposite to each other, because what drives gold up -- inflation -- drives stocks down (by filling the economy with uncertainty and inefficiency). But markets aren't logical in the short term, and these irrational divergences can persist a long time.

Dollar index rose 24.8 basis points (0.32%) today to 80.155. 'Tis not that the dollar is strong or attractive for its high interest rate, but that the unreasoning, madding mob's fear is driving them into US dollars and US government treasuries. Want to know what sort of looney world we live in? In this looney world, US dollars (pure moonbeams) and US government Debt (moonbeams and dope smoke) are counted "safe." Surely somewhere in this universe there's a planet that makes sense. I want to go there.

The "flight to safety" is buoying up the sinking dollar, flagellated by fear that the euro and lots of European government debt and banks will fall face down in the financial mud. Euro dropped beneath $1.3000 today, gapped down and closed down 0.5% at $1.2933. By now half the speculating world is short euros, so they'd better hope no Eurocrat comes up with some fix that would drive the euro suddenly skyward.

STOCKS were swimming in concrete shoes today. At the low they reached 12,748, but ended the day at 12,835.06, down "only" 97.03 (0.75%). S&P500 lost 9.14 (0.67%) to 1,354.58.

Five day charts for both stocks indicate that in the last two days they MIGHT have begun turning around. On the longer term charts the S&P500 has penetrated the neckline of its head and shoulders top formation and kept on falling. Dow today nearly completed the right shoulder of its HandS, and will complete it when it closes about 12,650. That argues against anything more that a temporary turnaround.

Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com
+1-888-218-9226
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. No, I don't.

The Gold Price Took a Big Hit Today Losing $34.60 Closing $1,604 How Far Will it Fall?

2012-05-08T19:45:00.004-04:00

Gold Price Close Today : 1604.00
Change : (34.60) or -2.11%

Silver Price Close Today : 2941.50
Change : 65.8 cents or -2.19%

Gold Silver Ratio Today : 54.530
Change : 0.043 or 0.08%

Silver Gold Ratio Today : 0.01834
Change : -0.000014 or -0.08%

Platinum Price Close Today : 1507.60
Change : -18.00 or -1.18%

Palladium Price Close Today : 623.40
Change : -22.20 or -3.44%

S&P 500 : 1,363.72
Change : -5.86 or -0.43%

Dow In GOLD$ : $166.66
Change : $ 2.57 or 1.57%

Dow in GOLD oz : 8.062
Change : 0.124 or 1.57%

Dow in SILVER oz : 439.64
Change : 7.07 or 1.64%

Dow Industrial : 12,932.01
Change : -76.52 or -0.59%

US Dollar Index : 79.87
Change : 0.305 or 0.38%

The Big Hit landed on the GOLD PRICE today. It lost $34.60 to close Comex at $1,604.00, down 2.11%. Silver gave up 65.8 cents to shutter the shop at 2941.5c.

Before I say one word about the silver and GOLD PRICE and bottoms and targets, I'll tell y'all that we'd all be better off and shuck a lot of anxiety if we just decided to ride the primary trend, buy when the price drops, and trust God for the outcome. But my phone is nearly melting with all the folks calling asking what we think the metals will do, and saying they're going to wait for another little drop.

They'll never get it bought, because at every price, they'll still be waiting for "just a little more." Bulls get rich, and bears get rich, but pigs get slaughtered.

So having warned against trying to catch a falling knife, I will now attempt to do it, natural born fool that I am.

Today the GOLD PRICE dove through the upper boundary of that falling wedge pattern. Likely it will touch that lower boundary, now about $1,575, before it stops. (Ask yourself if this putative 1.5% is worth waiting for.)

However, full disclosure wants to add that if that bottom boundary holdeth not, gold might plunge to next support, now about $1,500.

Times like these you have to figure out what you believe and hang on to it. If we are near gold's bottom -- and I believe we are -- this offers a spectacular buying opportunity, but only if you can cinch up your fears and do it. Otherwise it only offers those bragging rights that begin, "One time I ALMOST bought gold right near the bottom, but . . . "

The SILVER PRICE cascaded down 65.8 cents to 2941.5c. It sliced clean to the bottom boundary of the falling wedge. Now it stands at the crossroads.

Road # 1, silver stops right here. (Low today was 2911c).

Road #2, silver steps through that boundary, invalidating the bullish falling wedge, and seeking 2812c, or even the mid-2700c. It would reach those levels if its relation to certain moving averages matched those at the December 2011 lows. However, those are all so oversold already that silver may not match those December lows

Whatever y'all do, buy only the US 90% SILVER coin, which is an eye-popping $2.66 an ounce cheaper than silver American Eagles and $1.01/oz cheaper than silver rounds. Never forget: OVER TIME, PREMIUM ALWAYS DISAPPEARS.

In this Best of All Possible Worlds, Spain's fourth largest bank will be bailed out to the tune of $13 bn. I'm telling y'all, saving them banks is becoming a mite pricey, but I reckon the whole world's enslaved to them.

Y'all can moan and complain about gold and silver tumbling, but as long as the banks are in charge, both metals have a secure and brilliant future.

US DOLLAR INDEX took off the velvet gloves today and rose an unambiguous 30.5 basis points (0.31%) to 79.869. Close wasn't quite unambiguous, though, as it perched plumb on the upper boundary of the even-sided triangle. Intraday yesterday and today the dollar punched to 80. That and the European turmoil argue the dollar will clamber higher.

You didn't want to own euros today. Euro dropped 0.31% to $1.3013, but that $1.3000 support has the life expectancy of a Tootsie Roll in a kindergarten thirty minutes before lunch. Lower it will go.

Yen remained fairly flat again today, up 0.08% to 125.26c (Y79.83/US$1). Should go higher, although there's not a fundamental reason in the world for it, as it's the rottenest of all the rotten fiat currencies.

STOCKS had water lapping over the gunwales today from the moment they launched. Dow's low appeared at 12,810, but "Somebody" came to the rescue late in the day and it closed down only 76.52 (0.6%) at 12,932.01. S&P500 lost 5.86 or 0.43% to end at 1,363.72. S&P500 fell clean through the neckline of its head and shoulders top pattern while the Dow worked on completing the right shoulder of its HandS. Candide couldn't find ground for optimism here.

Yet strange to recount, the Dow in Gold Dollars today closed exactly at its March high, G$166.66 (8.062 oz). Four days ago it made a slightly higher high, but that top of this range has contained it for months as it forms a diamond top. One day soon it will break down, taking stocks much lower and gold higher, or stocks lower faster than gold.

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. No, I don't.

Gold Price Lost $6.10 Closing $1,638.60 Silver Down too

2012-05-07T18:09:00.004-04:00

Gold Price Close Today : 1638.60
Change : (6.10) or -0.37%

Silver Price Close Today : 3007.20
Change : 30.8 cents or -1.01%

Gold Silver Ratio Today : 54.489
Change : 0.352 or 0.65%

Silver Gold Ratio Today : 0.01835
Change : -0.000119 or -0.65%

Platinum Price Close Today : 1525.60
Change : 1.80 or 0.12%

Palladium Price Close Today : 645.60
Change : -4.30 or -0.66%

S&P 500 : 1,369.58
Change : 0.48 or 0.04%

Dow In GOLD$ : $164.11
Change : $ 0.25 or 0.15%

Dow in GOLD oz : 7.939
Change : 0.012 or 0.15%

Dow in SILVER oz : 432.58
Change : 3.41 or 0.79%

Dow Industrial : 13,008.53
Change : -29.74 or -0.23%

US Dollar Index : 79.58
Change : 0.085 or 0.11%

Today on Comex the GOLD PRICE lost $6.10 to close $1,638.60 while the SILVER PRICE lost 30.8 cents and ended at 3007.2c.

Riddle this: Gold's low today at $1,632.66 was higher than Friday's low at $1,626.50. Don't make a lick of sense. Today's high came in lower than Friday's by $4 at $1,642.50.

Anyhow, this was not Disaster Day for the GOLD PRICE. It remains above the upper boundary of that falling wedge (which foretells a leap up), sliding down that boundary like a kid on a playground slide. This constitutes no "break down", is a higher low than Friday's, and overall offers some hope that gold made its low for this move on Friday.

Time I walked in the office this morning silver was at 2978c and had been as low as 2968.9. That was only a few cents lower than Friday, so that might mark a double bottom.

I am sure waxing tired of these predictable days in silver and gold where "somebody" enters the market on open or an hour later and sells the snot out of it, driving it down suddenly, only to watch it bounce back to reclaim most of the loss. So it was today, so I just bought some down there under 3000c. That close above 3000c was good for silver morale, and shows some strength. However, silver lost against the GOLD PRICE today. GOLD/SILVER RATIO rose from 54.138 on Friday to 54.489 today, making that swap from gold to silver shine even brighter.

How is silver doing on that falling wedge? Well, it fell through the top boundary toward the lower one and I'd say it bounced off. As long as silver does not close below 2950c, that falling wedge remains intact and points to an upside move.

Imagine that at the US election in the fall, both Republicans and Democrats together fail to win 49.5% of the vote. Neither O'Bama or Romney (or whatever other apparatchik the Republicans front) wins, but Ron Paul wins the presidency while the Green Party wins control of the House.

That is something like what happened in Greece over the weekend, where the New Democracy Party and PASOK (the establishment parties) failed to win 49.5%, couldn't form a government, and the far left party stepped up to bat next. They are trying to form a coalition with a far right party, and both the press is predictably terming "fringe" parties because they spout not the establishment line, i.e., "bail out the banks."

To heap hand grenade on dynamite for the euro, in France Sarkozy, who has served as German Chancellor Merkel's faithful toady in bailing out the banks, was overthrown by a socialist, Hollande. Don't get too excited, in spite of the name the Socialists in France are roughly like Demos and Repubs here, an establishment party. Expect no revolution there.

All this sayeth not exactly that Greece will exit the euro and the euro will implode, but it surely increaseth the likelihood. Markets thought so, anyway. The Nice Government Men in the US must have lost lots of sleep over the weekend as those rogue elections sent the dollar shooting above 80: "Send in the Manipulators!" Didn't do the euro any good, It gapped down and fell clean to 1.2960 over the weekend, but climbed above $1.3000 to end today at $1.3053, down only 0.24%. That $1.3000 stands as the Euro's last support between it and $1.2600. Japanese yen stayed out of the fray, closing at 125.18c (Y79.88/US$1), about unchanged.

US DOLLAR INDEX closed up only 8.5 basis points (0.11%). That leaves it ambiguously poised just above its 20 day moving average (79.33) but beneath the upper boundary of the triangle (or diamond) it's been painting since January. If the euro breaks $1.3000 and gets into serious trudging, dollar could hit 81 overnight, nice government men notwithstanding.

Strange, strange US stock markets today. Dow chart looks like an ironing board, with most of the action in the legs, down below Friday's close. Dow lost 29.74 points (0.23%) to end barely clinging by its hangnails to 13,000 at 13,008.53.

On the other hand, the S&P500 and Nasdaq Comp. charts look nearly identical, with both indices underwater until 12:30, then rising to end the day barely up (0.04% and 0.05%). S&P500 gained a -- get out your magnifying specs -- 0.48 point -- to 1,369.58.

Last week I kept telling y'all about that head and shoulders in the stock charts, and this week the S&P500 stands right on the neckline, ready to fall through that trap door. Dow has not yet completed its right shoulder, but today closed below its 20 and 50 DMAs (13,044 and 13,062). If any of this argues for higher stock prices, it's such a squeaky small voice I can't hear it.

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. No, I don't.

This Weeks Gold Price Lost $19.30 Closing Comex $1,644.70 Must Not Close Below $1,635

2012-05-04T20:26:00.003-04:00

Gold Price Close Today : 1,644.70
Gold Price Close 27-Apr : 1,664.00
Change : -19.30 or -1.2%

Silver Price Close Today : 3038
Silver Price Close 27-Apr : 3134.7
Change : -96.70 or -3.1%

Gold Silver Ratio Today : 54.138
Gold Silver Ratio 27-Apr : 53.083
Change : 1.05 or 2.0%

Silver Gold Ratio : 0.01847
Silver Gold Ratio 27-Apr : 0.01884
Change : -0.00037 or -1.9%

Dow in Gold Dollars : $ 163.87
Dow in Gold Dollars 27-Apr : $ 164.33
Change : $ (0.46) or -0.3%

Dow in Gold Ounces : 7.927
Dow in Gold Ounces 27-Apr : 7.950
Change : -0.02 or -0.3%

Dow in Silver Ounces : 429.17
Dow in Silver Ounces 27-Apr : 422.00
Change : 7.18 or 1.7%

Dow Industrial : 13,038.27
Dow Industrial 27-Apr : 13,228.31
Change : -190.04 or -1.4%

S&P 500 : 1,369.10
S&P 500 27-Apr : 1,403.36
Change : -34.26 or -2.4%

US Dollar Index : 79.505
US Dollar Index 27-Apr : 78.748
Change : 0.757 or 1.0%

Platinum Price Close Today : 1,523.80
Platinum Price Close 27-Apr : 1,570.50
Change : -46.70 or -3.0%

Palladium Price Close Today : 649.90
Palladium Price Close 27-Apr : 681.60
Change : -31.70 or -4.7%

Look at that scoreboard. Silver took a beating, the GOLD PRICE took a leetle whipping, stocks were taken to the woodshed, and the platinum group taken to the woods and beaten with barbed wire.

I was wrong last week when I thought that silver and gold might have seen their final lows. Both went lower this week.

For the week the GOLD PRICE lost $19.30 (1.2%) and closed at $1,644.70. In today's trading it made a low for the week, but found loads of buyers there at $1,626.50 and moved up with a plainly impulsive wave. That dive to a new low followed by a higher close is positive.

But this also sets out requirements for GOLD, namely, it must not close below $1,635. Up above, $1,682 awaiteth still, daring gold to cross that line and rally.

Most optimistic for gold is this: from last week's middle to this week's end, gold pierced the upper boundary of that bullish falling wedge and came back to that boundary line. That famous kiss good-bye? Could be. You'll know when gold crosses above $1,682. This might be a very good time to buy.

That falling wedge line was what gold hit today at $1,626. For now, the odds favor gold rising next week. Watch that $1,626.

The SILVER PRICE closed Comex today at 3038c, up 42.1c.

Friends, at silver's 2974 cent low today it stopped smack on the lower boundary line of that falling wedge, then bounced right back. To this add a vaguely upside-down head and shoulderish or V-bottom pattern. If that was silver's turnaround, then low, it will not again close below 3010c, and next week must speedily trade above 3100c. Otherwise, silver has just been conning us all.

GOLD/SILVER RATIO reached 54.5 this week. If you are sick of waiting for my (perhaps quixotic) 57.5:1 ratio, go ahead and swap gold for silver, quickly.

A great heaviness has fallen on the SILVER and GOLD markets, but don't let it mislead you. 'Tis not the heaviness of a bull market that has turned to bear, but the dolor of a bull market correcting long and hard. The bull loves to wear out its riders so it can throw them off and laugh at them in the dust while it runs away. All the media have soured on silver and gold, the market has gone flat and keeps disappointing. It's just about time for the turnaround.

Before you listen to those croakers, listen here: silver and gold are barely one-third of the way through their price gains. Now is not the time to panic, but to gird up your loins and buy more.

Wall Street was telling us on Tuesday that the millennium had arrived, but doesn't look like it today. Dow puked back 168.32 points (1.27%) to close barely above 13,000 at 13,038.27. S&P500 really took it hard with a 22.47 (1.61%) drop.

I often call it the Potemkin Dow because we know that the US government manipulates that market, and has since 1987 (See President's Working Group on Financial Markets). Of all stock indices in the world, only the Dow and S&P500 have held up. Odd, don't you think? Today we saw that difference emerge as the much broader (500 companies) S&P500 sank 1.6% while the narrow Dow (30 companies) sank only 1.27%. More, the S&P500 also sank through emotional/morale/psychological support at the round number 1,400. Charts don't match, either.

Since February 2011 the S&P500 has formed a clear head and shoulders, which usually signals a top but can sometimes signal only a consolidation. Today it closed nearly slap on the neckline, and stands one and one half gnat's whiskers from breaking down. If it does break through that neckline, support appeareth not before 1,275, where awaiteth the 200 day moving average. HandS is complete.

The Dow has formed a like HandS, but the right shoulder went to a slightly higher high than the head. Does that point to a continuation upward? Today it broke down badly, falling through the 20 and 50 DMAs (13,040 and 13,061). HandS neckline stands at 12,650, so the Dow hovers 400 points above that, but the S&P500's condition flashes bright yellow caution lights on the Dow.

Folks, I don't believe this. I don't believe the phony Dow, I don't believe the stock rally, I don't believe the banks are all just fine and fatter'n October hog, I don't believe the economy is recovering, and I don't believe ne'er a word that falls from the mouths of Federal Reserve and government toadies. The closets are stuffed full of corpses, and some day soon, the doors will begin falling open.

And in the Potemkin currency markets this week, the US dollar index jes' performed mighty miracles. Broke down last week out of a two month forming triangle, and in a rational world would have followed through lower. Not the dollar! It's the World's Reserve Currency, right up there next to grocery coupons. It came back up to the lower boundary of that triangle -- yea, against all odds -- and closed at 79.505, up 31.3 basis points today and 75.7 basis points for the week.

Now I may be foaming at the mouth about nothing. Maybe the dollar index merely has climbed up to that line to give it a final kiss good-bye, but today it closed above the line a tad, and above the 20 and 50 DMAs (79.33 and 79.37).

This week's trading low at 78.60 has a twin in the first of April, so this may very well mark a double bottom for the dollar from which it will launch into the stratosphere. Well, to the tops of small outbuildings at least.

How can you tell which? If the dollar closes above 80.00 it will have sliced clean through the nose of that triangle to the upper side. That will attract more buyers. If the dollar falls below 79, then we will either suffer more of this sideways trading or a lower dollar.

On 4 May 1981 the Federal Reserve raised its interest rate to 19%. That was down from 21.5% in December. Paul Volcker had been appointed as FedHed in 1979 with the brief of wringing inflation out of the monetary system. One thing for sure: raising the interest rate to 21.5% will pull people into dollars. Whatever sense the Fed had back then (and it wasn't much) is long gone now, along with all the serious people and adults.

Y'all enjoy your weekend!

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. No, I don't.

Gold Price Dropped $19.20 to Close Comex $1,634.20 Mustn't Fall Below $1,600

2012-05-03T20:07:00.004-04:00

Gold Price Close Today : 1634.20
Change : (19.20) or -1.16%

Silver Price Close Today : 2995.90
Change : 63.3 cents or -2.07%

Gold Silver Ratio Today : 54.548
Change : 0.501 or 0.93%

Silver Gold Ratio Today : 0.01833
Change : -0.000170 or -0.92%

Platinum Price Close Today : 1532.30
Change : -28.20 or -1.81%

Palladium Price Close Today : 660.40
Change : -6.75 or -1.01%

S&P 500 : 1,391.57
Change : -10.74 or -0.77%

Dow In GOLD$ : $167.06
Change : $ 1.18 or 0.71%

Dow in GOLD oz : 8.081
Change : 0.057 or 0.71%

Dow in SILVER oz : 440.82
Change : 7.10 or 1.64%

Dow Industrial : 13,206.59
Change : -61.98 or -0.47%

US Dollar Index : 79.21
Change : 0.016 or 0.02%

It was one more bruising day for the silver and GOLD PRICE. Gold dropped $19.20 (1.16%) to close Comex at $1,634.20. That close came near the low of today's range, $1,649.30 - 1,631.16. The GOLD PRICE breaking $1,625 would suck a lot of heart out of the market, but the crucial line in the sand is $1,600.

Look here at this: Bad as GOLD fell today, it did not fall again beneath the upper boundary of that Falling Wedge y'all are probably tired of hearing about. If it does, it could fall all the way to the lower boundary , now about $1,580.

SILVER hurt more than gold today. It dropped 63.3 cents (2.07%) to close Comex at the Wal-Mart price of 2995.9c.

That's the second trip in a month to 3000c. One more and silver falls through.

The SILVER PRICE DID fall through the upper line of its falling wedge, which argues for a drop to 2950 cents. On the other hand (I sound like an economist) today's close marks a double bottom for silver, and we'll have to see whether that holds.

Some time soon will come a bottom. Just about the time even I was getting down a wonderful person called today to remind me that I had sold her silver and gold in 1998. Her $5,000 spent then would bring about $32,000 right now. The bull market has not ended, and more of those gains will come.

In a burst of Pharisaical arrogance unmatched by the entire history of the Soviet Politburo or the Ancien Regime, the European Central Bank met in Spain today rather than its usual German, "to be better known and closer to the citizens." To Spain, which is in recession and has a 24% unemployment (admitted, at least) and 50% unemployment among young people, ECB El Presidente Mario "Apparatchik of the Big Banks" Draghi said they (and the other governments) ought to get a grip on their "bloated budgets." This resembles cutting a man's legs off, then ridiculing him because he cannot run very fast.

Somewhere, some latter-day Madame is knitting, knitting. Écoutez! The click of the needles.

STOCKS today looked -- well, how can I say it nicely?-- right sick today, having completed a head and shoulders top on the five day market. Dow closed today down 61.98 (0.47%) to 13,206.59. A break below 13,180 starts an avalanche. S&P500 lost its grip on the morale-critical 1400 level to close down 10.74 (0.77%) at 1,391.57.

Yes, I know the entire stock-selling world is chortling over higher prices, but watch out. Look for a sharp rally, followed by a collapse.

CURRENCIES today trod water. Nothing there to talk about, except it's interesting that the euro FELL on news the ECB would not lower interest rates. Interesting because keeping interest rates higher should send the currency's price up, not down. But what do I know? I'm the guy who looks for the pigs and goats when anybody talks about "stock."

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. No, I don't.

The Gold Price Closed $1,653.40 Down $8.30

2012-05-02T18:34:00.004-04:00

Gold Price Close Today : 1,653.40
Change : -8.30 or -0.5%

Silver Price Close Today : 30.59
Change : -.29 or -0.9%

Platinum Price Close Today : 1,560.20
Change : -7.90 or -0.5%

Palladium Price Close Today : 668.85
Change : -11.60 or -1.7%

Gold Silver Ratio Today : 54.05
Change : 0.22 or 1.00%

Dow Industrial : 13,279.32
Change : 65.69 or 0.5%

US Dollar Index : 78.81
Change : 0.04 or 0.1%

What holds for other markets holds for the silver and GOLD PRICE as well: no hovering allowed. Gold broke $1,660 resistance today and fell $8.30 to $1,653.40. Yes, yes, that's above $1,650 but it did dip below to $1,647.35. Remains outside the upper boundary of that falling wedge, but unless it climbs above $,1650 tomorrow and charges toward $1,682, next move will be down.

The SILVER PRICE gave up 28.5 cents today to break through 3060c support and close at 3059.2c. Today it touched back to the falling wedge's upper boundary line.
If silver breaks that line, it could fall to 2950c.

Now my emotions are no more reliable than anybody else's. That's why I try to throttle them back. Maybe I'm turning negative on silver and gold at exactly the wrong time. May be. I look at that gold chart and think, "Mmmm. Just about to fly."

Anyhow, like everything else in this fallen world, they have to prove themselves, and I'm still waiting.

Those of y'all waiting to swap who are getting tired of waiting for my 57.5:1 GOLD/SILVER RATIO might want to observe that the ratio today stands at 54.047:1. If you are antsy, go head and swap gold for silver at any ratio above 54:1. If stocks rise, that should carry silver higher against gold. Why? Because silver tends to trend against gold in the same direction as stocks.

If y'all think you're going to find any comfort in these markets, you can lay that idea down and stomp on it.

STOCKS backed off today, left behind a big BUMP yesterday. Oh, they did nothing you could point at and say, "There! See there! That means this or that." Dow just backed off a measly10.75 points to 13,268.57, dropping it right back down into topping territory and beneath 12,300 resistance. S&P said no more, ending at 1,402.31, down 3.51.

Oh, momentum is up, but stocks must do more than hovering in the air. Ain't no hovering in markets.

CURRENCIES today were whacked by the dollar, which -- O, mercy, why do I bother with such a manipulated, silly market -- instead of following through to the downside after breaking out downward out of a triangle4 months a-building. Wait, wait -- dollar index only rallied up to the lower boundary of the triangle. Not a sure thing yet. Dollar index rose 30.9 basis points (0,4%) to 79.139, above the magic 79.

Euro was hurt worst by dollar frenzy, losing 0.62% to $1.3157. That takes it below the 20 and 62 day moving averages again. Yen took a licking, too, and ended at 124.81 (80.12) but remains in its uptrend.

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Spot gold basis for all prices above is $1,653.40 ORDERING INSTRUCTIONS:

1. You may order by e-mail only to fs@the-moneychanger.com. No phone orders, please.

Your email must include your complete name, address, and phone number. We cannot ship to you without your address. Sorry, we cannot ship outside the United States or to Tennessee.

Repeat, you must include your complete name, address, and phone number. Our clairvoyant quit without warning last week and we can no longer read your mind.

2. Orders are on a first-come, first-served basis until supply is exhausted.

3. "First come, first-served" means that we will enter the orders in the order that we receive them by e-mail.

4. If your order is filled, we will e-mail you a confirmation. If you do not receive a confirmation, your order was not filled.

5. You will need to send payment by personal check or bank wire (either one is fine) within 48 hours. It just needs to be in the mail, not in our hands, in 48 hours.

6. We allow fourteen (14) days for personal checks to clear before we ship. If your hurry is greater than that, you can send a bank wire. Once we ship, the post office takes four to fourteen days to get the registered mail package to you. All in all, you'll see your order in about one month if you send a check.

7. Mention goldprice.org in the email.

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. No, I don't.

The Silver and Gold Price Continue to Confuse Both Must Climb from here to Make Good Their Escape

2012-05-01T18:37:00.005-04:00

Gold Price Close Today : 1661.70
Change : (1.70) or -0.10%

Silver Price Close Today : 3087.70
Change : 8.2 cents or -0.26%

Gold Silver Ratio Today : 53.817
Change : 0.088 or 0.16%

Silver Gold Ratio Today : 0.01858
Change : -0.000030 or -0.16%

Platinum Price Close Today : 1570.90
Change : 6.60 or 0.42%

Palladium Price Close Today : 679.65
Change : -2.05 or -0.30%

S&P 500 : 1,405.82
Change : 7.91 or 0.57%

Dow In GOLD$ : $165.20
Change : $ 1.00 or 0.61%

Dow in GOLD oz : 7.991
Change : 0.048 or 0.61%

Dow in SILVER oz : 430.07
Change : 3.26 or 0.76%

Dow Industrial : 13,279.32
Change : 65.69 or 0.50%

US Dollar Index : 78.84
Change : 0.034 or 0.04%

The SILVER and GOLD PRICE continue to confuse and bewilder their supporters. Gold did challenge $1,670 today -- on a spike -- but fell back just as quickly to bump along $1,660 support. Closed Comex at $1,661.70, down $1.70. It's stalling, and in this world you either go forward or backward, but you can't stall. Move that thing!

The SILVER PRICE lost a tiny 8.2c to close at 3087.7. Chart looks like an EKG, just moving right across the paper. Silver is range bound by 3060c beneath and 3140c above. Nothing happens till it breaks one of those lines.

As to those falling wedges the silver and GOLD PRICE have traced out, there's no change. Gold remains above the upper boundary line of its wedge, as does silver, but both must climb from here to make good their escape.

The market was kind to stock investors today. The Dow made a 4 year intraday high, 13,338.66, but backed off that to close 13,279 (up 65.69 or 0.5%). That barely bested, but bested still, the previous high at 13,264.49 on 2 April 2012. (Odd, just exactly a month later?) S&P500 did not make a new high, offering a mild divergence. S&P 500 rose 7.91 (0.57%) to 1,405.82.

Assuming that the Dow can advance tomorrow, that will prove the head and shoulders we have been watching is a consolidation pattern and not a topping formation. As long as this continues and doesn't fizzle in the next few days, that sets the Dow on track to challenge the October (14,164.53).

No, I still would not buy stocks, but today does illustrate a well known principle of human behavior: people buy a rising market. I suppose that's one strong driver of bull markets, that so few people are willing to buy when the price is flat, and after a long decline. Then as the market begins gaining, only a few more will hop on. Ahh, but when the big rises come, you have to beat the buyers away with a stick. That's how you know a top is near.

And of course frenzied stocks and plentiful headlines suck investor dollars away from silver and gold.

Therefore it will do little good if any for me to point out to y'all that stocks are at the end of a long rise and face every fundamental economic headwind, while silver and gold have spent 12 and 7 months respectively correcting. People like the pizzazz and razzle-dazzle of rising markets, and never mind the fundamentals. That's what drives bubbles. Ask any former real estate agents.

CURRENCIES did very little today. Appears on the 5 day chart that the US Dollar Index double bottomed yesterday and today, then bounced up off that bottom for a 78.97 high. At the end of the day, though, it's all smoke and dust, 'cause the dollar gained only 3.4 basis points to wind up at 78.835. Euro played the mirror image of the dollar, breaking at mid-day from a high, closing up 0.02% to $1.3243. These moves are becoming too small to measure. Yen backed off 0.49% today to 124.73c (Y80.17/US$1), but is in a roaring uptrend.

I received two good questions from a reader: "At what point do you think the declining silver American Eagle sales will affect the price of silver? Doesn't that along with the climbing silver stocks in Comex depositories show a bearish sign?"

No, declining silver AE sales is an EFFECT, not a cause. Sales are declining because silver has been correcting, and therefore losing investor attention, since April 2011. Just as the US Mint minting silver Eagles does not CAUSE the public to buy them, so declining sales does not cause silver to drop.

I pay no attention whatever to silver stocks or to physical supply/demand (commodity) analysis for silver, because all that is immaterial to this bull market and does not drive it. Monetary demand alone is driving this bull market. Warehouse stocks and increased scrap reclamation don't change that at all.

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. No, I don't.

The Gold Price Needs to Burst Through the $1,682 Resistance to Confirm Next Rally

2012-04-30T19:16:00.000-04:00

Gold Price Close Today : 1663.40
Change : (0.60) or -0.04%

Silver Price Close Today : 3095.90
Change : 38.80 cents or -1.24%

Gold Silver Ratio Today : 53.729
Change : 0.646 or 1.22%

Silver Gold Ratio Today : 0.01861
Change : -0.000226 or -1.20%

Platinum Price Close Today : 1564.30
Change : 19.90 or 1.29%

Palladium Price Close Today : 681.70
Change : 23.45 or 3.56%

S&P 500 : 1,397.91
Change : -5.45 or -0.39%

Dow In GOLD$ : $164.21
Change : $ (0.11) or -0.06%

Dow in GOLD oz : 7.944
Change : -0.005 or -0.06%

Dow in SILVER oz : 426.81
Change : 4.81 or 1.14%

Dow Industrial : 13,213.63
Change : -14.68 or -0.11%

US Dollar Index : 78.78
Change : 0.075 or 0.10%

The GOLD PRICE showed the sort of action I deeply love. It opened flat, got pounded on the US open, straight down, then fast and steady rose right out of that hole to close nearly unchanged. Well, closed at $1,663.40, down sixty cents. Why do I like that action? $1,645 support, then returned to challenge $1,665 resistance. This maintains the uptrend and thumbs its nose at sellers.

On that gold chart with the falling wedge, gold did no more today than fall back for a final kiss good-bye to the upper boundary. If the GOLD PRICE can resist falling below $1,645, then it has broken out of that falling wedge and begun its next rally. Caution: there's likely to be a lot of very slowly rising mostly sideways action for a while. Remember that in the next week or so gold needs to burst through $1,682 resistance.

SILVER PRICE dropped 38.8 cents today to 3095.9c. Low came at 3057.8c, about where we saw most of the lows last week. After the usual early morning opening attack on silver, it recovered but didn't trade up as high as gold, only to the 3100c level.

This also speaks with forked tongue on that falling wedge chart. The low took silver down through the wedge's upper boundary, but silver closed above it. Silver is laboring to break out.

Last week we saw the lows (I believe) now the SILVER and GOLD PRICE are just breaking free of lower resistance levels before they start leaping.

Whatever hopes stock investors held that stocks would surge ahead today were dashed. Dow dropped 14.68 (0.11%), turned back again by the noxious miasma at 12,300. S&P backed off 0.39% (5.45) to 1,397.91. Only a Dow close above 12,325 can turn this picture positive.

US Dollar Index did nothing today to salvage its reputation. Oh, it rose 7.5 basis points -- mere dandelion fluff in the wind -- to 78.784, but after so clearly breaking down last week, such moves arouse only contempt. Dollar index could rally all the way to 79.25 for a final kiss back to the trendline it broke through, but unless it closes above 79.50, the dollar will drop further.

Euro dropped 0.11% today to $1.3239. Dollar is breaking down, euro is holding up, and only the yen seems to be profiting. Euro does, at least, barely remain above its 62 DMA (1.3206). As Friday's chart plainly foretold, the yen advanced again today. Gained 0.47% to 125.29c (Y79.81/US$1). Will move higher until the Mystic Knights of the Central Bank hit it again.

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. No, I don't.

The Gold Price Broke Out and is Moving Higher Closing up 1.3 Percent for the Week at $1,664

2012-04-27T19:22:00.006-04:00

Gold Price Close Today : 1,664.00
Gold Price Close 20-Apr : 1,642.10
Change : 21.90 or 1.3%

Silver Price Close Today : 3134.7
Silver Price Close 20-Apr : 3164.4
Change : -29.70 or -0.9%

Gold Silver Ratio Today : 53.083
Gold Silver Ratio 20-Apr : 51.893
Change : 1.19 or 2.3%

Silver Gold Ratio : 0.01884
Silver Gold Ratio 20-Apr : 0.01927
Change : -0.00043 or -2.2%

Dow in Gold Dollars : $ 164.33
Dow in Gold Dollars 20-Apr : $ 164.02
Change : $ 0.31 or 0.2%

Dow in Gold Ounces : 7.950
Dow in Gold Ounces 20-Apr : 7.935
Change : 0.02 or 0.2%

Dow in Silver Ounces : 422.00
Dow in Silver Ounces 20-Apr : 411.75
Change : 10.25 or 2.5%

Dow Industrial : 13,228.31
Dow Industrial 20-Apr : 13,029.26
Change : 199.05 or 1.5%

S&P 500 : 1,403.36
S&P 500 20-Apr : 1,378.53
Change : 24.83 or 1.8%

US Dollar Index : 78.748
US Dollar Index 20-Apr : 79.144
Change : -0.396 or -0.5%

Platinum Price Close Today : 1,570.50
Platinum Price Close 20-Apr : 1,577.40
Change : -6.90 or -0.4%

Palladium Price Close Today : 681.60
Palladium Price Close 20-Apr : 675.00
Change : 6.60 or 1.0%

Overview of the silver and GOLD PRICE this week says that they completed those falling wedges, made final bottoms for this move, and have begun moving higher.

GOLD PRICE today rose $4.40 to $1,664.00 while silver gained 14 cents to 3134.7c. Notice that this week (a) gold never closed below $1,630 and (b) silver spent only 3 days below 3100c.

Yesterday GOLD cracked the upper boundary of that falling wedge -- "broke out" -- and confirmed that today with a higher close. Yet once burned, twice shy, so I want to see gold clear $1,682 resistance to PROVE it has turned up, then keep marching right along and climb over that 200 DMA at $1,698.17. Looks good, but I'm holding my breath. Why? Because it still might drop back to the bottom boundary of that wedge, now about $1,600.

The SILVER PRICE was taken behind the bar and beaten so bad you'd have thought she couldn't stand up. Think again. 5 Day chart shows a spike bottom on Wednesday, followed by a surge through 3060c resistance, and a continuing advance clean to 3140c.

Today SILVER closed at 3134.7c, not far from the 3142c high.

On the longer term chart silver yesterday halted at the upper boundary of that falling wedge. Today she cleared it. In front of silver -- and needful to confirm a rally -- stands 3250c.

Appears that the SILVER and GOLD PRICE made their final lows this week for the correction that began off the March high. A lot of sideways frustration will likely follow, but trending upward. Big breakouts may not come till fall, but worst has passed.

Biggest winner for the week was the S&P500, up 1.8%, with gold not far behind at 1.3%. Not surprising, dollar index lost half a percent.

If this was any sort of sane world where everybody and his brother didn't have his thumb on the scale and his hand in the till, that US dollar index would have dropped like a big boy hit on the head with a large-size pipe wrench. Rather, it broke down from its two-month-a-building triangle and jes' sorta stumbled 40 basis points (0.51%) to 78.748, instead of dropping straight down like a low-flying mallard hit with #2 shot.

Where will this take the US dollar index? It has broken support stretching back to the late October low, so "lower" is the first answer. Second, there's an internal support line right about 78.50, beneath which lies air. Doesn't seem to be any particular reason -- that is, an announcement from the Bernancubus that he's going to debase the dollar faster -- for this slide, but maybe it's the NGM working together trying to float the euro.

Speaking of the euro, how'd you like to live in Spain, where admitted (Governments always lie) unemployment is 24.4% and half the folks under 25 have no jobs? Foreclosures rising, banks sinking, deficit booming. This saith not much for the euro's future. Today it rose 0.35% to 1.3253, which carries it only to the 32.8% correction level of its November - January drop. Yes, 'tis above its nested 20, 50, and 62 day moving averages, which points it higher, but if you put a .44 magnum to my head and asked me why, I reckon you'd just have to blow my brains out cause I could give you ne'er a reason.

Yen is on a tear, rose 1.04% today to 124.7c/Y100 (Y80.19/US$1). Climbing above that 124.5-ish level will send it flying, and I reckon y'all will see that.

Some of y'all may have marked that I NEVER have anything good to say about stocks, and I confess, that's no accident. Wake up! The US is mired to the wheel wells in depression, and the only thing government and the Fed can do is haul more barrels of water to thin the mud. Some few companies may prosper, but the vast majority of the US economy will keep on suffering because the Resplendent Ones Who Run Our Lives will not allow the economy to purge bad investments and bankrupt firms. mostly because their cronies own them.

More than that, stocks entered a primary downtrend in 2000, and will not significantly exceed that inflation-adjusted 11,722 high until the bear market ends, say 3 - 10 years hence.

At present the Dow Industrials have traced out a head and shoulders that may signal on a breather, a consolidation before moving higher, or a top. If the Dow can break through 13,300 -- IF -- then it might reach for 14,905 and the government and Wall Street shills will be singing sweet halleluiahs, but 'twill be the biggest bull trap of all time, for twill collapse thereafter to ignominious lows. Teeth will gnash, wailers will wail, hair will be pulled. If the Dow breaks say 12,100 sooner, then the gnashing, wailing, and hair-pulling will start sooner. No matter, either way the gnashing, etc. will come. Wait for it, it will come.

Today the Dow rose, with great labor, to 13,228.31, up 23.69 (0.18%) while the S&P500 climbed over 1,400 to 1,403.36 (up 3.38 or 0.24%).

Y'all enjoy your weekend!

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. No, I don't.

The Gold Price Closed up $18.20 at $1,659.60 Silver up too with an 85 cent Gain

2012-04-26T22:01:00.004-04:00

Gold Price Close Today : 1659.60
Change : 18.20 or 1.11%

Silver Price Close Today : 31.207
Change : 0.851 cents or 2.80%

Gold Silver Ratio Today : 53.180
Change : -0.891 or -1.65%

Silver Gold Ratio Today : 0.01880
Change : 0.000310 or 1.68%

Platinum Price Close Today : 1567.10
Change : 22.70 or 1.47%

Palladium Price Close Today : 671.90
Change : 13.65 or 2.07%

S&P 500 : 1,399.98
Change : 9.29 or 0.67%

Dow In GOLD$ : $164.48
Change : $ (0.37) or -0.23%

Dow in GOLD oz : 7.957
Change : -0.018 or -0.23%

Dow in SILVER oz : 423.13
Change : -8.11 or -1.88%

Dow Industrial : 13,204.62
Change : 113.90 or 0.87%

US Dollar Index : 78.93
Change : 0.070 or 0.09%

Yesterday I said that the GOLD PRICE drop to a new low for a move and sharp recovery showed strength. Shut my mouth if it didn't gain $18.20 today to dazzle the Comex with a $1,659.60 close, above $1,640 and $1,650 resistance. High touched $1,660.55, low never fell below $1,645.72.

Here's the good news and the bad news. Bad is that gold is forming a rising wedge, and could still drop down to the bottom boundary thereof, right now about $1,590. Good news is that the GOLD PRICE cracked that upper boundary today, but hold on! Won't confirm an upside breakout and rally until it closes ABOVE $1,683, resistance AND the 150 day moving average.

My darling SILVER leapt 85.1 cents today to clear 3100c and close Comex grinning at 3120.7c like a jackass eating sawbriars. That was close to the 3127c high, and a LONG ways from the 3064.4c low. Today's close landed silver slap on the upper boundary of the falling wedge. Bear in mind that silver must make good this escape by closing higher tomorrow, and might yet touch the other side of that falling wedge, now about 3000c.

It MAY BE that the SILVER PRICE and the GOLD PRICE today have opened the door to that rally we've awaited so long. Both must confirm with respectably higher closes tomorrow.

Sideways markets are tough to parse. When they seem just about to break out, they fall back. Often to the bottom of a long, narrowing triangle. I think that's what's taking place with stocks.

They rose today. That's why y'all are getting this lecture. Dow was up 113.9 (0.87%) to 13,204.62 and the S&P500 rose 9.29 (0.67%) to 1,399.98, one mouse burp away from 1,400. What meaneth this uproar?

Still appears to me stocks are painting a head and shoulders top, right now finishing the right and final shoulder. It would take a close above 13,300 to change my mind. This "rally" strikes me as bait for suckers.

Curioser still is the Dow in Gold Dollars (DiG$). This has formed a diamond since mid-March, which usually marks a top. For the past two weeks the DiG$ has skidded along atop its 20 DMA (now G$163.10 or 7.890 oz.) but never climbing higher than G$164.90 (7.977 oz).

Stability like that makes little sense. I mean, it won't stay there much longer. To escape the diamond upside the DiG$ must close above G$165.37 (8.000 oz) then quickly rise over G$168.12 (8.133 oz), the last high. More likely is that the DiG$ will fall out of the triangle gravity-ward when it bereaks G$160 (7.740 oz).

Lo! How are the mighty fallen! Tell it not in Gath, that the US dollar index today fell below 78 and now tradeth at 78.931. True, that's lower by only 7 basis points (a measly 0.09%), but it is painfully symbolic for the dollar. In aftermarket trading it's trying to rise, so maybe today marked the dollar's low. It better have, else it falls out of a long triangle and loses 300 basis points. Must hold 79.

The Euro went nowhere, closing today at $1.3221 against yesterday's $1.3225. Too little to count, call it unchanged. Yen gapped up -- sigh, again -- today to 123.51c, 0.37% (Y80.97/US$1). Never mind the theatrics, yen must climb above 124.54 even to raise a suspicion it is changing its downward trend.

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. No, I don't.

Gold Price Must Stay Above $1,623 Has it Already Bottomed?

2012-04-25T18:17:00.003-04:00

Gold Price Close Today : 1641.40
Change : (1.60) or -0.10%

Silver Price Close Today : 3035.6
Change : 39.0 cents or -1.27%

Gold Silver Ratio Today : 54.072
Change : 0.634 or 1.19%

Silver Gold Ratio Today : 0.01849
Change : -0.000219 or -1.17%

Platinum Price Close Today : 1544.40
Change : 1.50 or 0.10%

Palladium Price Close Today : 658.25
Change : -6.75 or -1.02%

S&P 500 : 1,390.69
Change : 18.72 or 1.36%

Dow In GOLD$ : $164.86
Change : $ 1.30 or 0.79%

Dow in GOLD oz : 7.975
Change : 0.063 or 0.79%

Dow in SILVER oz : 431.24
Change : 8.37 or 1.98%

Dow Industrial : 13,090.72
Change : 89.16 or 0.69%

US Dollar Index : 79.03
Change : -0.168 or -0.21%

Today the GOLD PRICE made a low ($1,623.40) equal to Monday's low. Market was flat above $1,635, then suddenly woke up at 12:30 (on the dot) to fall to $1,623. About 1:00 p.m., it shot up higher than the shelf it had fallen off of, to $1,646.60, then closed down $1.60 on the day at $1,641.40.

Now that's not a key reversal, but it is strong action. The GOLD PRICE fell to its previous low and refused to break -- no more sellers waiting there to be spooked out of gold. Worse yet for the gold short universe (which encompasses pretty much every government and central bank on the globe), crowds of buyers were waiting there, enough to drive the price above $1,640.

Okay, this isn't by any means a runaway bull rally, but it does suggest a bottom and a market running out of sellers.

Here's a little more. With a double bottom, GOLD has now established support at $1,623, so we can say "as long as gold stays above $1,623, 'twill be out of danger of great declines." However, y'all ought also bear in mind that the falling wedge on gold's chart has a lower boundary that could stand a drop to $1,575 without violation.

Mirroring gold's performance, the SILVER PRICE, too, dropped mid-day, but to a lower low at 2998.7 cents. Just as quickly it jumped up out of that hold, and closed Comex only 39c lower at 3035.6c.

On a longer term chart, the one with that falling wedge, this took silver only to the bottom of that falling wedge, whence it bounced back. This is splendid behavior, but silver must keep it up by not falling through 3000c. Today, with its bad/good/indifferent news announcement from the FOMC that didn't break silver, constitutes positive news. Now SILVER needs a higher close above 3100c to prove that.

Well, the Great Ones of The Frittering Open Market Committee met, and their announcement leads one to suspect they were scared of doing anything to disrupt markets. We're going to keep on doing what we have been doing, they said.

How did the markets take that? Me, I want to know not what people say, but what the canny ones do with their money. No cannier exist than bond investors, and the yield on 10 year and 30 year bonds rose a little. That represents a discount on the bonds for more expected inflation, which would explain why stocks also rose, because markets insanely (or should I say "Keynesianly") think more inflation will help the economy, and idea on a par with the notion that putting a knife under a laboring woman's bed will cut the pain.

The mighty US Dollar Index fell a little, 16.8 basis points (0.22%) to 79.034. In any other market this would be fatal, but you have to allow a lot of "slop" for currencies, manipulated as they are. Today's lower close marks a new low for the dollar for this move, and brings it much closer to The Line That Must Not Be Crossed, namely, 79 (bottom of the long even-sided triangle). Dollar could stumble badly here.

After a drop lower today, the Yen recovered to close higher by a gnat's eyebrow -- 122.98c against yesterday's 122.96c. Remains above the 50 DMA and 20 DMA, so momentum is positive but until it can climb above the 200 DMA (127.74) yen remains in a downtrend. Euro rose to US$1.3225, up 0.23% but still scruffing along without any resolution. Meanwhile, not only Spain but not Holland also appears ready to unravel. Doesn't really make the euro attractive.

Stocks rose today, proving that P.T. Barnum was right about the frequency of certain births. Dow rose 89.16 (0.69%) to 13,090.72 and S&P500 did better rising 18.72 (1.36%) to 1,390.69.

Dow is trapped below 13,100 resistance, and above that more resistance at 13,300. This unrolleth against a backdrop of a head and shoulders top finishing out a right and last shoulder. Buying a market that looks like that is like drawing to an A-K-J-10 inside straight flush in 5 card draw.

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. No, I don't.

The Gold Price Rose $11.10 to Close $1,643 Needs to Rise to $1,655 Awaiting FOMC Meeting Tomorrow

2012-04-24T18:20:00.004-04:00

Gold Price Close Today : 1643.00
Change : 11.10 or 0.68%

Silver Price Close Today : 3074.60
Change : 21.5 cents or 0.70%

Gold Silver Ratio Today : 53.438
Change : -0.013 or -0.02%

Silver Gold Ratio Today : 0.01871
Change : 0.000004 or 0.02%

Platinum Price Close Today : 1542.90
Change : -13.40 or -0.86%

Palladium Price Close Today : 665.00
Change : -5.75 or -0.86%

S&P 500 : 1,371.97
Change : 5.03 or 0.37%

Dow In GOLD$ : $163.58
Change : $ (0.15) or -0.09%

Dow in GOLD oz : 7.913
Change : -0.007 or -0.09%

Dow in SILVER oz : 422.87
Change : -0.54 or -0.13%

Dow Industrial : 13,001.56
Change : 74.39 or 0.58%

US Dollar Index : 79.37
Change : 0.180 or 0.23%

The GOLD PRICE rose $11.10 today to $1,643 and the SILVER PRICE rose 21.5 cents to 3074.6 cents. Truth is, this doesn't tell us very much. Yes, both the silver and GOLD PRICE left behind little spike bottoms yesterday, but without a rise above 3140c in silver or $1,655 in gold, nothing is resolved. And hanging over the market like a big question mark is the FOMC meeting tomorrow.

Only my opinion, but yesterday may have taken the silver and GOLD PRICE down as low as they will go. Too early to tell yet, but likely.

If it wasn't for bad economic news, there wouldn't be any news at all. Case-Shiller home price index today recorded housing prices declined 3.5% from a year earlier. Home prices haven't been this low since November 2002. But I reckon this is still the best of all possible economies.

More confusion is added because the Great Ones of the Federal Open Market Committee meet tomorrow, and none of the tea-leaf readers know exactly which they will jump. If they sound tough on inflation (no QE for you, Bad America!) then the dollar will rise and stocks and metals will suffer. If they sound easy on inflation (Buck up, America -- we have more monetary meth for you!) then the dollar will suffer and stocks and metals should rise.

So ridiculous as it is, markets await the pronouncements of 17 people who don't know any more than the rest of us, but have their hands on the monetary spigot forbidden to the rest of us. That means the dollar is key to where markets move next. The dollar since November 2011 has been trading into a long even- sided triangle. It sitteth square upon the bottom boundary thereof, and should it break that limit, should fall clean to the 200 day moving average (77.88).

However, the dollar remains - by the hair on its green paper chin -- in an uptrend. That means the market is biased in favor of an upward outcome. Truth to tell, I watch these events and can seldom parse how the public and the Wise Ones Commenting will take the Fed's moves. I'd have as much luck trying to parse a Roman haruspex reading the guts of sacrificed sheep. None of it makes a lick of sense.

That's why I fall back on the fundamental set up of government and fed, where the institutional imperative is "Inflate or die!" Never mind what soothing words they drool, they most assuredly will inflate, sooner or later.

Back to currencies. Yen today dropped 0.2% to 122.96c/Y100 (Y81.33/US$1). It stands above its 50 DMA and 20 DMA, but with a gappy, jumpy pattern that makes little sense. Resembles recent pointless trading in the euro. Euro rose 0.32% today to $1.3197. This is a likely time for the Nice Government Men to manipulate the bejabbers out of the market, given the skittishness in Europe and woes in Japan.

Dow Jones Industrial Average closed over 13,000 today -- just barely, at 13,001.56, up 74.39 or 0.58%. S&P500 rose 5.03 (0.37%) to 1,371.97.

Dow's five day pattern is directionless to weak, up and down but blocked by 13,100 the way Kryptonite blocks Superman. S&P500 looks about the same, but weaker still. Stocks are ready to fall off a cliff, unless some central bank deus ex machina saves them.

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. No, I don't.

The Gold Price Dropped $10.20 to Close Comex at $1,631.90 Bull Market is Hardly One-Third Complete

2012-04-23T17:50:00.003-04:00

Gold Price Close Today : 1631.90
Change : (10.20) or -0.62%

Silver Price Close Today : 3052.50
Change : 111.90 cents or -3.54%

Gold Silver Ratio Today : 53.461
Change : 1.568 or 3.02%

Silver Gold Ratio Today : 0.01871
Change : -0.000565 or -2.93%

Platinum Price Close Today : 1556.30
Change : -21.10 or -1.34%

Palladium Price Close Today : 670.75
Change : -4.25 or -0.63%

S&P 500 : 1,366.94
Change : -11.59 or -0.84%

Dow In GOLD$ : $163.75
Change : $ (0.25) or -0.15%

Dow in GOLD oz : 7.922
Change : -0.012 or -0.15%

Dow in SILVER oz : 423.49
Change : 11.75 or 2.85%

Dow Industrial : 12,927.17
Change : -102.09 or -0.78%

US Dollar Index : 79.37
Change : 0.180 or 0.23%

The GOLD PRICE today dropped $10.20 and closed Comex at $1,631.90. Now it's true that it traded as low as $1,623.59, below my $1,630 limit, but it didn't CLOSE there, don't you know. SILVER PRICE finally broke through 3100c and traded as low as 3047c. Lost 111.9c on Comex and ended at 3052.5c, but here in the aftermarket nearly four hours later it's trading around and above 3090c.

Since March I've been watching a bullish falling wedge take shape on the gold chart, so contrary to popular expectations, today neither surprised me nor cast me down. The GOLD PRICE could fall to $1,580 without violating that wedge's lower boundary. Recall, too that a falling wedge points to a soon-future UP move.

It grieves me to see some folks tiring out, exhausted by this long correction. Please hear me out: I have been in this frustrating place before. In two of the last corrections the GOLD PRICE took 71 weeks and 77 weeks to reach the level where the correction began. But in that last case, that was $1,003.80 and the high for that move followed at $1,888.70 last August. If you don't pay any mind to anything else I say, write this down in that little book you carry in your shirt pocket: In price terms this bull market is hardly one-third complete.

But if you don't want to listen, you're welcome to stuff them green paper dollars in your mattress, and maybe a bunch of stock certificates, too. They make swell wall paper.

My baby SILVER hath also traced out a falling wedge. Here the bottom boundary stands about 2975c today, but if I draw that line slightly differently, it stands about where silver hit its low today (Arbitrary? Well, sometimes.)

Oh, silver could spend more time down here laboring in the basement, but I don't much expect it to break below 3000c, maybe to 2975c. Of course, won't many of y'all be buying while it's down here. Y'all would rather wait and buy it at 3600c, I reckon, but that's human nature.

If I am reading silver and gold wrong, I might be spectacularly wrong. Bottom might yet drop out, especially if the Great Ones Who Care For Us can't find a way to dupe us about the European crisis. But from a technical standpoint and from the longevity of the correction, and the charts, I don't believe y'all will see gigantically lower silver and gold.

Man, nothing but good news out of Europe today, and they really have that crisis under control, like a hound with hydrophobia is learning to control his drooling. French president Sarcophagus became the first president since 1958 not to win re-election on the first ballot, and Sarcophagus is the other half of the Franco-Teutonic Dynamic Duo, with German Chancellor Ferkel. No Sarcophagus, no Duo, no leadership. Next budget talks collapsed in the Netherlands -- the next Greece?! And basking in all this good news, Euro stock markets tumbled to 3 month lows. Never mind that foam on his lips, Europe will be all right.

I reckon the Resplendent Ones at the IMF meeting did not, after all, solve all the world's financial problem. What a surprise.

Y'all would guess on a day that hit stocks and metals such a blow, not to mention all the troubles in Europe, that the US Dollar Index would have soared. Y'all would guess wrong, cause the dollar index rose a meager 18 basis points (0.23%) to 79.374, merely enough to save itself from breaking down.

Just to give y'all a flavor of how hard it must be to manipulate markets and make 'em stick, the euro today dropped 0.5% to $1.3154. Remember that on Friday it had jumped up through its downtrend line and tangled its feet in the jumble of moving averages up above. I mused then that it looked right suspicious, like a drunk with a half-pint sized bulge in his back pocket, but it might not have been Nice Government Men. It might have been merely shorts pulling out of the market before the Resplendent met. Either way, the Euro didn't stick, and I expect that gigantic euro short out there has today measurably swollen.

On the globe's other side the yen rose 0.47% to 123.24c (Y81.14/US$1). That carries it -- with a gap -- above the 50 DMA yet again, which argues that the yen did NOT post an island reversal last week, but I'd still like to see higher prices to second that.

Stocks had a teeth-gnashing day. They opened underwater and stayed there all day swimming like somebody from New Jersey wearing those famous concrete overshoes. Wasn't that they jiggled up and down, they just sank on the open and stayed there. Dow lost 102.09 (0.78%) to end at 12,927.17. The S&P 500 lost 11.59 (0.84%) to 1,366.94.

Been warning y'all about the head and shoulders top in the Dow and S&P500. S&P500 today closed nearly square on the neckline (about 1,360). Dow's right shoulder, on the other hand, stands about 200 points above its 12,700 neckline. No matter, when stocks lurch through that neckline, they'll drop off a cliff, shave 600 points off the Dow in a few days.

But Great Grasping Greenspans and Bouncing Bernankes! What do I know? I'm no more'n a natural born fool from Tennessee, just a-watchin' my betters perform.

Mercy! My wife just walked into the room with a bag of dried dates, apricots, and figs, which I view the same way a meth-head views meth. I have to bring this to a close.

Spain has criminalized cash business transactions over 2,500 euros (US$3,250), supposedly to catch tax cheats in its new austerity program. Hogwash! Remember what I told y'all the other day about how little paper money cash exists in this country? The cashless society isn't about convenience, it about CONTROL. Go read www.thedailybell.com/3814/Spain-Bans-Cash.

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. No, I don't.