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Gold Price Closed $1,395.70 up 1.7% for the Week — Silver Price Closed at $23.73 up 1.8% for the Wee
What’s the score? Silver and GOLD PRICES rested this week after the week before’s elephantine gains, but today picked up the ball and began running again. GOLD/SILVER RATIO new low corroborates the metals’ rally. Dow measured by metals continue to plunge, and stocks in dollar terms didn’t precisely shine, either. US dollar index stayed flat as a central banker’s head (yes, I did use that last week, but I like it so much I had to plagiarize it from myself.)
The GOLD PRICE disentangled its feet from the toils and snares of $1,350-$1,375 resistance and jumped $24.50 today (1.8%) to $1,395.70. Tis readying itself for an assault on $1,425 next week—watch.
Nor did SILVER play the laggard. It leapt 3.05% (70.3 cents) to 2373.3c. In the aftermarket it has traded above 2400c. I don’t believe silver will stop before it reaches the dread spot where it fell off in April at 2700c. Gold is targeting $1,550 before the rally relents.
All these indicators are piling up in the same directions: higher prices for silver and gold. Market is handing y’all a rare and enormous opportunity to buy. Go now.
Every day before I write this commentary I usually check the news, then reach for my wastebasket and puke, and continue writing. Today was nastier than usual, nothing but physically disgusting news, mass murderers, regular murderers, porn stars, and repulsive media hogs who have had their self-respect surgically removed. And there was something about that disgusting flat-headed IMF head, Christine Bogard, Laggard, LeGarde, whatever it is. I stopped reading. Couldn’t take it. No need to read it, as she will only say, “Print more money!”
Surely somewhere in the world today someone committed some small act of kindness, said some encouraging word, did his duty? That’s the only way you can separate yourself from these loonies. In the words of my friend NB, it looks like “Hell is full so the damned are walking the earth.”
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