The Gold Price Rose 4.7 Percent Closing at $1,369.40 — Silver Price Up 8 Percent Closing at $23.24

From Silver and Gold Prices
September 19, 2013 - 7:48pm

Gold Price Close Today : 1369.40Change : 61.60 or 4.71\%Silver Price Close Today : 23.242Change : 1.728 or 8.03\%Gold Silver Ratio Today : 58.919Change : -1.869 or -3.07\%Silver Gold Ratio Today : 0.01697Change : 0.000522 or 3.17\%Platinum Price Close Today : 1472.40Change : 47.80 or 3.36\%Palladium Price Close Today : 736.55Change : 35.10 or 5.00\%S&P 500 : 1,722.34Change : -3.18 or -0.18\%Dow In GOLD$ : $236.04 Change : $ (11.76) or -4.74\%Dow in GOLD oz : 11.419 Change : -0.569 or -4.74\%Dow in SILVER oz : 672.77 Change : -55.91 or -7.67\%Dow Industrial : 15,636.55Change : -40.39 or -0.26\%US Dollar Index : 80.345 Change : 0.075 or 0.09\%Today the GOLD PRICE rose $61.60 (4.7\%) to $1,369.40 and silver gained an eye-popping 172.8 cents (8\%) to 2324.2c. Remember, those are the gains from yesterday's low Comex closes, not the gains from the end-of-day prices. Clearly, this demands we act, and I'll tell you how below.Final proof of the silver and GOLD PRICE reversal will come tomorrow or next day when gold closes above $1,385 and SILVER above 2400c. Still needed after that is silver above 2500c and gold above $1,434.Should you wait for the confirmations to buy? I don't think so, after a powerful reversal like we saw yesterday and today. I think it's time to load up the wagon, but then I am a plunger and a risk taker, as well y'all know. Past that, Bernanke has proven once again -- did y'all really NEED for it to be proven again? -- that the only answer Our Masters have to economic crisis and depression is "print more money." That makes silver and gold as near a sure thing as y'all are ever likely to see.I'm sorry I missed sending y'all a commentary yesterday, but I was tied up with a crew filming a documentary about people who leave the city for an agrarian life in the country, "Beyond Off the Grid." Y'all go check it out at http://beyondoffgrid.com, and if you like the idea, you can help them out. I have already. Y'all already know what my commentary for yesterday would have sounded like, pennants of sarcasm floating with streamers of cynicism and "I-told-y'all-sos." Alas, I didn't get to send forth those streamers and pennants yesterday, so will compensate today. I will drink in great draughts of daily news and government lies and Fed propaganda to stimulate my sarcasm gland. I really want to say, "I told y'all they wouldn't taper,' but I will forego that pleasure for the sake of humility. Bernanke and the other criminals at the Fed sucked in the world's wise ones (and economists) on Wall Street and the media with tales of tapering. Alas, the victims learned yesterday 'twas only 'twaddle, idle jawboning to deceive the gullible. 'Tis easy to lie. Lenin gave Felix Dzherzhinsky, his secret police chief, the key to getting lies believed: "Tell them what they want to hear." Seems Bernanke and the FOMC read Lenin's book. Yea, the almighty Fed even backed off its claims of prescience (claims upon which its raison d'être is pyramided) and lowered its economic growth forecasts for 2013 and 2014. Wait, wait -- you mean we're NOT better off having "experts" running things? You mean "Ph.D" actually does stand for "Piled Higher and Deeper"? You mean academics who have never run a business or met a payroll in their lives don't really know how to run the world's biggest economy? Well, shucks. I am well and truly disillusioned. Now, on to markets. Remember that Comex closes at 1:30 Eastern, BEFORE the FOMC bloviation takes place. So yesterday silver closed at 2151.4c, down 22.1 cents and gold at $1,307.80, down $1.70 (yet above that critical $1,300). Lo, and Behold! Ben mumbled, and the net was "We ain't gonna taper until 2014, if ever." Markets went wild. Stocks soared and in fifteen minutes gold gained $50 (3.8\%) and silver 100 cents (4.6\%). Blew right thru resistance levels. And closed higher today, along with breaking into new low territory yesterday and closing higher today. Bingo! Complete key reversal, confirmed.Stocks jubilated yesterday. Dow hit a new all time high at 15676.94, and a new intraday high at 15,709.58. S&P500 also struck a new high at 1,725.52. Today stocks sang not quite so sweetly. Dow gave back 40.39 (0.26\%) to 15,636.55 while the S&P500 lost 3.18 (0.18\%) at 1,722.34. We have no way of knowing yet, but this third peak in a series of slightly higher peaks would paint a perfect top on this counter-cyclical rally in the on-going stock bear market. A


Share this article »  

Continue reading this article »