Silver and <b>Gold Prices</b>: Encouraging Day for the <b>Gold Price</b> Closing <b>...</b> |
- Silver and <b>Gold Prices</b>: Encouraging Day for the <b>Gold Price</b> Closing <b>...</b>
- Trader Dan's Market Views: Upward Rigging of the <b>Gold Price</b> <b>...</b>
- Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Lost $3.30 Closing Today at <b>...</b>
| Silver and <b>Gold Prices</b>: Encouraging Day for the <b>Gold Price</b> Closing <b>...</b> Posted: 23 Jan 2014 04:55 PM PST Gold Price Close Today : 1262.60 Change : 23.60 or 1.90% Silver Price Close Today : 19.981 Gold Silver Ratio Today : 63.190 Silver Gold Ratio Today : 0.01583 Platinum Price Close Today : 1461.70 Palladium Price Close Today : 745.00 S&P 500 : 1,844.86 Dow In GOLD$ : $265.19 Dow in GOLD oz : 12.829 Dow in SILVER oz : 810.64 Dow Industrial : 16,197.35 US Dollar Index : 80.500 The GOLD PRICE closed Comex $23.6 (1.9%) higher at $1,262.60. This is slightly higher than where it faded ($1,262) day before yesterday. Today's move gainsays and negates the key reversal of the last two days, and ALMOST takes gold above its December $1,267.50 high. It also carries it to the top of its Bollinger Band, so it needs to hit the gas here or fall back. Today's show suggests it will hit the gas and accelerate its rally. The SILVER PRICE had a weird day. It hit 2031 cents at the high, but settled Comex at only 1998.1, up 0.8% or 17.2 cents. Makes little sense with gold so strong. However, it places silver back above its 20 (1993c) and 50 (1994c) DMAs, turns momentum up, and leaves me generally felling warm and fuzzy. Nevertheless, silver must cross 2050c or it's all just warm fuzzies amounting to nothing but . . . warm fuzzies. Them you can't take to the bank. To prove a rally, ideally the GOLD PRICE will close well above $1,267 tomorrow and silver above 2050c. Not so ideally, to maintain its rally gold needs to close above $1,262. Any close above $1,251.70 gives it five higher weeks in a row. There's more, but I don't want to overload y'all. In the face of a stock market puking it its wastebasket the gold stock indices rose smartly. XAU up 2.48%, GDX up 2.73%, HUI up 2.7%. Breakout for the HUI above its downtrend line from August. Very encouraging day for silver and gold prices. Not so hot for stocks and the loathsome dollar. Lots of surprises today. Whether bad or good depends on what you own. Stocks finally made good on the Dow's nagging refusal to confirm the other indices. Dow fell like your car keys sinking down a well when you bent over to look at your reflection and they slipped out of your shirt pocket. Sliced into its 50 DMA (16,153) but ended down only 175.99 (1.07%) at 16,197.35. All other indices tumbled, too. S&P500 lost 16.4 (0.89%) to 1,828.46. That took the S&P500 way below its 20 DMA at 1,838, and turns momentum gravityward for stocks. I'm not one to say "I told y'all so" unless severely provoked, and today one does the job. I believe I told y'all back on the 10th that the Dow's MACD had flashed a sell signal. With those lower tops that warned "Trouble coming!" Today's stock dive sent the Dow in Metals down, down. and gave the breakdown I've been looking for. Dow in Gold ended at 12.81 oz (G$264.81 gold dollars), down 3.24%, below the 13.05 oz 50 DMA and punching through the lower channel line. Silver was lazier than gold today, so the Dow in Silver, although it lost 2.14% to 809.67 oz, only barely broke its 50 DMA (810.73) and didn't quite fall out of the channel. Big surprise (for me) today was the rotten performance of the loathsome US dollar index. Lost 78 basis points (0.96%) to 80.51, undoing two week's work and closing below its 20 and 50 DMA. Tripped by good European economic statistics. Triggered an MACD sell signal. Euro gapped up 1.1% to $1.3694, closing back within the channel it had fallen out of and above its 50 and 20 DMAs. Go figure. Yen jumped too, up to the 50 DMA by a long step. Uptrend now established. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger © 2014, 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 or 18 ounces of silver. or 18 ounces of silver. US $ and 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.  |
| Trader Dan's Market Views: Upward Rigging of the <b>Gold Price</b> <b>...</b> Posted: 23 Jan 2014 08:54 AM PST I must admit; I just cannot help myself having a bit of fun. I wanted to try these catchy titles the same way that the GIAMATT crowd web sites do in order to generate more site hits to increase their ad revenue dollars! I should know as my poor inbox gets inundated with such articles whenever gold has experienced a sharp selloff of late. "See - we told you so", seems to be the message. The poor bears however have no friends for no one writes snappy titles to defend them whenever gold has one of these big up days like it is having today. On to more serious business however - there was a strong combination of data releases that really lit a fuse under the gold market in today's session. Unemployment numbers, the Chicago Fed's index, China, etc. Each of these data releases showed slowdowns in growth. If that were not enough, India's ruling Congress party chief, Sonia Gandhi was reported to have requested the Ministry of Commerce to ease restrictions on gold imports into India. The gem and jewelry industry is complaining, rightfully so in my view, that this 10% barrier is forcing their costs to rise and impacting their businesses negatively. Any easing of this tariff would be viewed by gold traders as friendly towards India gold demand. At least that is how the market seems to be regarding it at the moment. Back to the US data however but more specifically, back to its impact on the US DOLLAR. It fell SHARPLY and guess what???? - Yes, Gold rose sharply. No manipulation, no theories, just a simple correlation between the Dollar and the Anti-Dollar or ol' Yeller. The weak economic data, which reminded people of just how weak that last payrolls number was, once again spurred more of the same talk that the Fed was going to be on hold in the regards to the Tapering. Side note here - one wonders just what will happen if the next payrolls number just happens to be above 200K. Will all of today's talk disappear once again? From a trader's perspective, it is like trying to catch a yo-yo. With equities selling off sharply on the sharp reported fall in the Chinese manufacturing index, investors are fearing more slowing growth and that translated to sinking interest rates here in the US as bonds were the recipient of money flows today. Those money flows dropped interest rates and that pulled the rug out from beneath the US Dollar which has been supported by a general tend of rising rates here in the US. The yield on the Ten Year as I type these comments is down to 2.8%. At the start of this year it was trading above 3%! The Dollar has tended to generally track the yield on this note. Watch the Dollar to get a clue as to whether or not gold can muster the energy to punch through this tough overhead resistance barrier that it has now once again entered. Around 10:00 AM CST, the Kansas City Fed numbers were released and this data showed a big improvement in the manufacturing in the Plains area. The number rose to 5 from -3 in December. That showed manufacturing growth for the month, the exact opposite of what we got from the Chicago Fed. Gold seemed to fade a bit when that number hit the wires. This market remains so incredibly sensitive to Tapering/Not Tapering issues that for all practical purposes, we are trading each and every single economic data release with the view to how traders are generally interpreting that data. Predicting this sort of thing in advance is fool's work so just be warned that volatility will continue to remain quite high until we get some sort of clear, defined TREND in this data. Right now there is no consensus and that will lead to sharp bouts of buying/selling depending on which side panics. Today it was the bears' turn; tomorrow - who knows? This is the reason I continue to urge caution for those traders who are still attempting to work this gold market. KEEP YOUR POSITION SIZE SMALL OR MANAGEABLE. You are liable to get hurt and hurt badly if the economic data does not come out your way. It is not trading at this point because there is no clear trend. You are essentially gambling or rolling the dice and hoping that the roll comes out in your favor. There is no skill to that, just chance, and good traders do not rely on chance. Let's see how the dust settles at the end of the day but more importantly, how the market reacts to the next payrolls number coming our way. A couple of charts for you to examine... note the daily chart and the strong push above the 50 day moving average. That is quite positive. Also, the ADX has gotten a clear crossover of Positive Directional Movement Indicator ( BLUE LINE ) above the Negative Directional Movement Indicator ( Red LINE ). Clearly that bulls have regained control of the market at this time frame. As a matter of fact, the ADX, the trending indicator, is actually beginning to rise, just as gold is moving higher. It is still below 25 so the trend is not yet confirmed but it is very close. What the bulls need is one more ingredient and that is a strong push through that very tough overhead resistance zone noted on the chart. That means we need to see prices above $1,262, preferably a bit higher, to give us the real possibility, the first in a while I might add, of an upside trending move.  Look at the 4 hour time frame. Here you can see the strong volume on today's big move higher ( a lot of this is due to panicked shorts when that data came out). This REVERSE FLASH CRASH is CLEAR PROOF that gold prices are being manipulated higher. After all, who would buy in such a fashion? Sorry - I think I need some help restraining myself at this point. ( it comes from having to deal with all the nasty emails that constantly fill my inbox from the gold acolytes in the cult).  Seriously, look at where the bulls have taken this thing - right on the verge of a breakout! We have a big hurdle to clear with that next payrolls report but suffice it to say, that IF THE US DOLLAR experiences another strong selling-related plunge as it is doing today, gold should break free to the upside. I am noting that the Dollar is holding initial support near the confluence of the 40 and 50 day moving averages. Failure there and it has a strong possibility of visiting 80.20 - 80.00.  |
| Silver and <b>Gold Prices</b>: The <b>Gold Price</b> Lost $3.30 Closing Today at <b>...</b> Posted: 22 Jan 2014 04:58 PM PST Gold Price Close Today : 1,239.00 Change : -3.30 or -0.27% Silver Price Close Today : 19.81 Gold Silver Ratio Today : 62.547 Silver & GOLD PRICES closed lower, confirming a key reversal & calling for lower prices. Silver dropped 2.9 cents to 1980.9c and gold lost $3.30 to $1,239.00. The GOLD PRICE hit the neckline of its little upside-down head & shoulders yesterday but closed lower, then closed lower today. Shoulder line of that inverted H&S is about $1,212, so gold must contain any retreat there. Lower close tomorrow clinches a re-visit to $1,220 at least. The SILVER PRICE closed lower today, too, also confirming a key reversal. What might contain it? 1940 cents, where there's strong support? 1930 cents, ditto? If those yield, then look for another trip below 1900. For the second day running, all stock indices but the Dow rose while the Dow fell -- a striking contradiction & non-confirmation. Dow gave back 41.1 (0.25%) to 16,373.34, markedly below its 20 DMA (16,434). This stands against a backdrop of a downtrend (series of lower highs and lower lows), matched by other indicators pointing down. Ignore that at your own peril. Meanwhile the S&P500 doesn't look much healthier, despite its 1.06 (0.06%) rise today to 1,844.86. It still floats above its 20 DMA (1,838), without making clear whether this is a consolidation or continuation pattern. Stocks are in that position were your breath checks when you look at the chart. Both indices need to close above recent highs to turn solidly up. Neither Dow/Metal indicator moved much today. Dow in gold ended at 13.24 oz (G$273.69). Dow in silver added 0.1% to 827.35 oz, and is dancing on the 20 DMA. I take away the impression that stocks are a market under pressure, strong from both sides. Whichever side gives up first will push the market in his direction. Loathsome, despicable fiat currencies did nothing remarkable today. US dollar index inched up 6 basis points to 81.29. Still going nowhere in an uptrend. Euro lost 0.13% to $1,3545, pausing in mid-air on its way to $1.3300. Japanese yen nudged down 0.28% to 95.66 cents/Y100, rapidly going sideways & nowhere. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger © 2014, 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 or 18 ounces of silver. or 18 ounces of silver. US $ and 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. |
| You are subscribed to email updates from gold price - Google Blog Search To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
0 Comment for "Silver and Gold Prices: Encouraging Day for the Gold Price Closing ..."