Lost $6.10 Today Closing at $1316.10

Posted: 26 Jun 2014 04:30 PM PDT

26-Jun-14	Price	Change	% Change
Gold Price, $/oz	1,316.10	-6.10	-0.46%
Silver Price, $/oz	21.10	-0.01	-0.04%
Gold/Silver Ratio	62.366	-0.265	-0.42%
Silver/Gold Ratio	0.0160	0.0001	0.43%
Platinum Price	1,472.10	-3.10	-0.21%
Palladium Price	836.20	1.95	0.23%
S&P 500	1,957.22	-2.31	-0.12%
Dow	16,846.13	-21.38	-0.13%
Dow in GOLD $s	264.60	0.89	0.34%
Dow in GOLD oz	12.80	0.04	0.34%
Dow in SILVER oz	798.28	-0.71	-0.09%
US Dollar Index	80.28	0.00	0.00%

3 Day Gold Price Chart

3 Day Silver Price Chart

The GOLD PRICE begun getting hit at about 4:00 a.m. Eastern Time by the sellers, driving it from $1,316 to $1,308. That didn't work, so about 9:00 they hit it again, forcing it to $1,306.80. Buyer's must have had their tongues hanging out watching all this, because after that print gold shot straight square up, finally reaching $1,318, then levelling off the rest of the day for a Comex close at $1,316.10, $6.10 (0.46%) lower.

Same game plan was played on the SILVER PRICE, with just as little effect and a 2080 low. About 9:30 silver came roaring up out of that hole, then traded gently higher until it crossed 2100c. Closed Comex 8/10 of a cent lower at 2110.3.

This is all strong trading, and the silver price will be fine as long as it stays above 2075c - 2050c. The GOLD PRICE is headed higher even if it closes as low as $1,295.

Even under attack, silver and gold prices are proving the resilient strength of their rally.

Y'all are going to mess around and miss buying, waiting for the perfect price.

Stocks broke that support I was talking about yesterday, the top line of a long established rising wedge. Just cracked it like you'd crack an egg shell, but it's cracked all the same. Dow cracked its 20 day moving average, too, but the S&P500 stopped short of that. Dow lost 21.38 (0.13%) to 16,846.13. S&P500 shaved off 2.31 (0.12%) to 1,957. Lower prices a-comin'.

Dow in silver fell again for the fifteenth straight day, and is so oversold I'm beginning to expect some sort of corrective rally. DiS lost another 5 oz (0.62%) to 797.64 (S$1,031.29 silver dollars), a scant six silver dollars from its S$1,023.46 (791.58 oz) 200 DMA.

Dow in Gold bounced up 0.05%, just a little fly-tick, to 12.79 oz (G$264.39 gold dollars). Downtrend is firm and has plenty of room to drop.

Both Dow in metals indicators are pointing to lower stock prices and higher metals prices.

US dollar index today did something unusual: closed unchanged at 80.28. It traded as low as 80.19, and as high as 80.44 around 9:30 a.m. when it tried to rally, but fell back feckless. Only encouragement in this is that the dollar index closed above its 20 DMA and slightly above important internal support at 80.25.

Euro drew near its 200 DMA ($1.3662) yesterday, but fell back today as if it were Kryptonite. No danger the euro will run away starward any time soon. Yen rose 0.11% to 98.31, continuing its baby steps to its 98.51 200 DMA, which it hit today but closed below. A close over that 200 DMA followed quickly by a close above 99.00 would send the yen rallying.

Aurum et argentum comparenda sunt -- -- Gold and silver must be bought.

- Franklin Sanders, The Moneychanger
The-MoneyChanger.com

© 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.

<b>Gold Prices</b> Benefit From Economic Sins | Gold Silver Worlds

Posted: 26 Jun 2014 02:33 PM PDT

Governments, such as the United States, United Kingdom, Europe, and Japan, spend their paper currencies as if tomorrow will never come. They act as if they believe debts can increase forever, more money will always be available, and debts can be rolled over forever. A recent US vice-president even stated that "deficits don't matter." Such economic sins may help the financial elite but they ultimately hurt most people and most economies.

Governments pretend they don't know there are consequences to actions, bills must be paid, and nothing lasts forever. Government actions are equivalent to an individual announcing, "I can't be out of money, my credit cards still work."

A few consequences

President Nixon closed the "gold window" in 1971 and disconnected the U.S. government, the Federal Reserve and the dollar from the discipline of gold. The result, as measured by official national debt is shown here – a massive increase in debt.

US national debt 1900 2014 economy

The two invasions of Iraq have not, based on recent ISIS conquests, produced the benefits that the US & UK war planners expected. The costs as measured in human life, international prestige, and expenses have been considerable. Additional consequences have been massively increased national debt, a sluggish economy, and accelerating inflation in food and energy prices. Prognosis: higher oil prices, more inflation, weaker dollar and more economic sins.

There are always consequences from the actions of individuals, countries, governments, and central banks. Prognosis: prepare for stormy weather.

Regardless of what politicians profess, there are consequences to their actions – their economic sins – and it is wise to clearly assess the likely outcomes.

Most governments spend much more than their income and borrow the difference – economic sin # 1. The result is a larger money supply and increasing debt. Eventually the central bank begins "printing money" – economic sin # 2. Consumer price inflation accelerates and angry citizens watch as their capital, savings, and pensions are consumed in the fires of government created inflation – economic sin # 3. A diversion, such as another war or invasion, is then needed and economic sin # 4 commences. Prognosis: more spending, more debt, and the cycles of economic sins and economic destruction will continue.

CONCLUSIONS

Expect larger government, more government programs, more debt, more spending, and more military adventures.

Expect more price inflation, declining purchasing power for the dollar, euro, pound, and yen, and wages that will not increase to match the rise in the costs of food, energy, and taxes.

Expect excuses and diversions.

Hyperinflation, another economic sin, can be created by central banks and governments. It may seem unlikely in the USA, but it is very real in Argentina and Zimbabwe. It can happen in Europe, Japan, the US, and the UK. The costs to savings, investments, and personal well-being would be incalculable.

We can't tax ourselves into prosperity. "Printing money" does not create wealth. We can't inflate our currencies into wealth for the masses. We can't devalue our dollars, yen, pounds, and euros and expect to create capital or lasting prosperity. Debts are paid, one way or another.

More wars and invasions benefit military contractors – but at what cost to everyone else?

Gold has been a store of value for 5,000 years. It has protected people from inflation, wars, and irresponsible governments during the last several thousand years. Gold has not always and forever been a good investment – the price of gold declined between 1980 and 2000.

But gold is currently excellent insurance against counter-party risk, consumer price inflation, central bank "money printing" and the consequences of the economic sins committed by irresponsible governments and central banks.

Gold (and silver) prices have bottomed and will move up substantially for several years.

GE Christenson | The Deviant Investor

The Gold Price Lost $6.10 Today Closing at $1316.10

The <b>Gold Price</b> Lost $6.10 Today Closing at $1316.10

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