GOLDPRICE.ORG IS BACK! - Gold and Silver Prices Have Hit New Highs!
Gold Price Close Today : 901
Change: -0.6 or -0.1%
Silver Price Close Today : 16.205
Change: -12 cents or -0.7%
US Dollar Index Today: 75.74
Change: -0.12 or -0.2%
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Note from the Editor of goldprice.org and CEO of Gold Price Pty Ltd. Joel Bruce.
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goldprice.org domain name was pointed to another site for the past few days, with the erroneous message stating the domain name was being disputed, causing goldprice.org to be off line during the historic all time highs for the gold price.
Please accept our apologies for this inconvenience which was completely out of our control. We have spent the last 3 days working to get the site back online and can now say that we have regained control of the domain name so your favorite gold price site and Franklin Sanders' excellent gold price commentary is BACK!
However, we are very interested in hearing from you on how you were impacted by this highly inconvenient event which for many occured on the biggest gold trading day of their life. You can leave feedback at:contact us.
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The punishment for hubris -- over- weening pride -- is humiliation, & I reckon I got mine today. That's what I deserve for tooting my own horn.
Markets today are fragile -- easily spooked because everyone is afraid & running for cover. GOLD PRICES climbed to $915 and SILVER PRICES to $16.50, & then the trouble started.
GOLD & SILVER PRICES hit new highs, $915 and $16.50, then suddenly dropped to $894 and 1598. However, they climbed just as quickly back up on their perch, & closed the day not much changed -- gold down 60 cents to $901 & silver price down 12 cents to $16.205.
But as the afternoon passed, the aftermarket took them down as low as $887 and $15.88. At the last of my day they were trading at $891 & $15.94. Both silver & gold prices were overbought, but not so much they couldn't become more overbought.
Against the euro & yen, gold has broken out to the upside, as has silver against the euro. Gold did hit its upper channel line today. So where are we? Your guess is as good as mine. Technically the stock market might be putting in a washout low.
Today's close matches August's intraday low at 12,517.94. One more fall might take it to 12,400, where it might stop. Otherwise, the Dow is headed for 12,000. Arguing against a bottom just yet are silver & gold's behaviour today, which made the stock market's panic look generalized to other markets.
Silver & gold prices may have hit their top & quit for this rally, but they may not. You expect volatility & spookiness when a market rallies as metals have since December. We'll know for sure whether silver & gold have topped when metals test these upper levels again, shortly.
I'm glad I'm not Ben Bernanke tonight.
For stocks the day offered not a moment for breath. First thing Citibank (at the epicenter of the subprime mess) announced a 4Q07 loss of US$9.8 billion. That was followed by a string of other bad news, but the Dow didn't wait around to check. Citibank's news pushed it off a cliff from the open, and it fell the rest of the day. Oh, it bounced and went sideways a little while, but ended the day dropping more & closing near the low. The S&P500, if it's any consolation, dropped worse than the Dow. It's carnage: the Dow down 764 points in January's 1st 10 days, worst for the first 10 days of any year ever. Dow & S&P have fallen nearly 12% from their October highs.
The US DOLLAR INDEX dropped 33 basis points early in the day, but in the rush for the exits gained to close the day up 11.9 basis points at 75.738. Makes it look a bit better on the chart.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
http://the-moneychanger.com/
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 $1,250.00; silver's primary is up targeting 16:1 gold/silver ratio or $78.13; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.
Change: -0.6 or -0.1%
Silver Price Close Today : 16.205
Change: -12 cents or -0.7%
US Dollar Index Today: 75.74
Change: -0.12 or -0.2%
###########################################################
Note from the Editor of goldprice.org and CEO of Gold Price Pty Ltd. Joel Bruce.
###########################################################
goldprice.org domain name was pointed to another site for the past few days, with the erroneous message stating the domain name was being disputed, causing goldprice.org to be off line during the historic all time highs for the gold price.
Please accept our apologies for this inconvenience which was completely out of our control. We have spent the last 3 days working to get the site back online and can now say that we have regained control of the domain name so your favorite gold price site and Franklin Sanders' excellent gold price commentary is BACK!
However, we are very interested in hearing from you on how you were impacted by this highly inconvenient event which for many occured on the biggest gold trading day of their life. You can leave feedback at:contact us.
##########################################################
The punishment for hubris -- over- weening pride -- is humiliation, & I reckon I got mine today. That's what I deserve for tooting my own horn.
Markets today are fragile -- easily spooked because everyone is afraid & running for cover. GOLD PRICES climbed to $915 and SILVER PRICES to $16.50, & then the trouble started.
GOLD & SILVER PRICES hit new highs, $915 and $16.50, then suddenly dropped to $894 and 1598. However, they climbed just as quickly back up on their perch, & closed the day not much changed -- gold down 60 cents to $901 & silver price down 12 cents to $16.205.
But as the afternoon passed, the aftermarket took them down as low as $887 and $15.88. At the last of my day they were trading at $891 & $15.94. Both silver & gold prices were overbought, but not so much they couldn't become more overbought.
Against the euro & yen, gold has broken out to the upside, as has silver against the euro. Gold did hit its upper channel line today. So where are we? Your guess is as good as mine. Technically the stock market might be putting in a washout low.
Today's close matches August's intraday low at 12,517.94. One more fall might take it to 12,400, where it might stop. Otherwise, the Dow is headed for 12,000. Arguing against a bottom just yet are silver & gold's behaviour today, which made the stock market's panic look generalized to other markets.
Silver & gold prices may have hit their top & quit for this rally, but they may not. You expect volatility & spookiness when a market rallies as metals have since December. We'll know for sure whether silver & gold have topped when metals test these upper levels again, shortly.
I'm glad I'm not Ben Bernanke tonight.
For stocks the day offered not a moment for breath. First thing Citibank (at the epicenter of the subprime mess) announced a 4Q07 loss of US$9.8 billion. That was followed by a string of other bad news, but the Dow didn't wait around to check. Citibank's news pushed it off a cliff from the open, and it fell the rest of the day. Oh, it bounced and went sideways a little while, but ended the day dropping more & closing near the low. The S&P500, if it's any consolation, dropped worse than the Dow. It's carnage: the Dow down 764 points in January's 1st 10 days, worst for the first 10 days of any year ever. Dow & S&P have fallen nearly 12% from their October highs.
The US DOLLAR INDEX dropped 33 basis points early in the day, but in the rush for the exits gained to close the day up 11.9 basis points at 75.738. Makes it look a bit better on the chart.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
http://the-moneychanger.com/
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 $1,250.00; silver's primary is up targeting 16:1 gold/silver ratio or $78.13; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.
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