The Moneychanger
Weekly Commentary
Wednesday, 23 December a.d. 2015 Browse the commentary archive
Here's the weekly scorecard:
  18-Dec-15 23-Dec-15 Change % Change
Silver, cents/oz. 1,408.00 1,427.70 19.70 1.4
Gold, dollars/oz. 1,066.20 1,069.40 3.20 0.3
Gold/silver ratio 75.724 74.904 -0.821 -1.1
Silver/gold ratio 0.0132 0.0134 0.0001 1.1
Dow in Gold Dollars (DIG$) 332.03 340.26 8.23 2.5
Dow in gold ounces 16.06 16.46 0.40 2.5
Dow in Silver ounces 1,216.30 1,232.93 16.64 1.4
Dow Industrials 17,125.45 17,602.61 477.16 2.8
S&P500 2,005.41 2,064.29 58.88 2.9
US dollar index 98.72 98.32 -0.40 -0.4
Platinum 860.60 867.90 7.30 0.8
Palladium 558.30 553.45 -4.85 -0.9

Here's a rare Christmas present for you all at or Either link will take you to the same English translation of Athanasius' work, "On the Incarnation of the Word of God" (written about 318 a.d.). Not only is it an English translation, it is a fluent, lucid, easy, 20th-century English translation that reads delightfully. The PDF file is 46 pages, but don't try to read it all at once, although you'll want to. Savor and digest it little by little over the Twelve Days of Christmas. Every Christian Orthodox, Roman Catholic, Lutheran, Reformed, or Evangelical can read Athanasius with joy and profit in the truth.

Oh, and if you're shopping for a man & need a last minute stocking stuffer, look at this: Shave Secret. My son introduced me to this stuff lately. It's a small vial with essential oils. You wet you beard, put 5 drops in your palm, rub your palms together & rub it into your face. At this point as he lifts a razor to his face the normal male is thinking this must be a very painful way to commit suicide. Wait. Wet beard again, with more drops. It is the most extraordinarily close & comfortable shave I have ever had. Believe it or not, you can get the stuff at WalMart for less than five bucks. Your man will kiss you, twice.

Markets today were dead as a ball peen hammer, except for stocks, where the funds are in a feeding frenzy trying to lift stocks high enough to rate themselves bonuses at year end. Dow rose 185.34 (1.06%) to 17,602.61. S&P500 levitaged 25.32 (1.24%) to 2,064.29. My o my, they closed above the 200 day moving average. Little likelihood this will reach past the upside-down bowl's bottom, now at roughly 17,800 & 2,080. Maybe a little higher, but not meaningfully.

Scurvy US dollar index rose as high as the 20 DMA at 98.67, but held not on. Sank back to close little changed, up 7 basis points at 98.32. No improvement in its dismal outlook. Euro dropped 0.37 to $1.0912, Yen rose 0.15 to 82.73. Markets are all looking at Christmas.

Gold fell off $5.40 to 1,069.40 on Comex while silver shaved off 2.5¢ to 1427.7¢.

Gold has managed to crush my optimistic outlook, not permanently but certainly for this week. Touched back to the 20 day moving average today, & closed above it. Just a dead Christmas week market. Holding on, that's all.

Silver has held up a little better than gold, taking the gold/silver ratio down to 74.904 today at Comex close. Don't want to found any case on what's happening this week.

On 23 December 1862 for insults and injuries to the women of New Orleans where he was commanding Union troops, General Ben "Beast" Butler, a political general from Massachusetts, was proclaimed by CS President Jefferson Davis "a felon, outlaw, and common enemy by mankind." President Davis considerably understated the case.

I won't be sending a commentary tomorrow but will be concentrating on celebrating the Incarnation. May you all enjoy a blessed Christmas!

Y'all enjoy your weekend.

Argentum et aurum comparanda sunt —
Silver and gold must be bought.

— Franklin Sanders, The Moneychanger

Your source for gold and silver. Read our latest reviews and testimonials.
Market Snapshot See more charts and market data
22-Dec-15 Price Change % Change
Gold, $/oz 1,074.80 -7.10 -0.7
Silver, $/oz 14.30 0.00 0.0
Gold/Silver Ratio 75.150 -0.496 -0.7
Silver/Gold Ratio 0.0133 0.0000 0.0
Platinum 872.80 -4.90 -0.6
Palladium 554.90 -1.45 -0.3
S&P 500 2,038.97 17.82 0.9
Dow 17,417.25 165.65 1.0
Dow in GOLD $s 334.99 5.40 1.6
Dow in GOLD oz 16.21 0.26 1.6
Dow in SILVER oz 1,217.82 11.50 1.0
US Dollar Index 98.23 -0.23 -0.2
IMPORTANT NOTE: The following are wholesale, not retail, prices. To figure our retail selling price, multiply the "ask" price by 1.035. To figure our retail buying price, multiple the "bid" price by 0.97. Lower commissions apply to larger orders, higher commissions to very small orders.
SPOT GOLD: 1,072.60      
GOLD Fine Tr.Oz. BID ASK $/oz
American Eagle 1.00 1,103.71 1,116.58 1,116.58
1/2 AE 0.50 546.52 565.80 1,131.59
1/4 AE 0.25 275.94 288.26 1,153.05
1/10 AE 0.10 112.52 117.45 1,174.50
Aust. 100 corona 0.98 1,042.95 1,051.95 1,073.20
British sovereign 0.24 254.38 267.38 1,135.87
French 20 franc 0.19 201.76 205.76 1,102.07
Krugerrand 1.00 1,084.40 1,094.40 1,094.40
Maple Leaf 1.00 1,082.60 1,096.60 1,096.60
1/2 Maple Leaf 0.50 616.75 563.12 1,126.23
1/4 Maple Leaf 0.25 273.51 286.92 1,147.68
1/10 Maple Leaf 0.10 113.70 116.91 1,169.13
Mexican 50 peso 1.21 1,284.07 1,295.07 1,074.13
.9999 bar 1.00 1,076.35 1,084.60 1,084.60
SPOT SILVER: 14.24      
SILVER Fine Tr.Oz. BID ASK $/oz
VG+ Morgan $B4 1905 0.77 22.50 26.00 33.99
VG+ Peace dollar 0.77 17.50 20.00 26.14
90% silver coin bags 0.72 11,429.28 11,786.78 16.49
US 40% silver 1/2s 0.30 4,007.58 4,157.58 14.09
100 oz .999 bar 100.00 1,448.50 1,473.50 14.74
10 oz .999 bar 10.00 143.85 148.85 14.89
1 oz .999 round 1.00 14.34 14.80 14.80
Am Eagle, 200 oz Min 1.00 15.74 16.99 16.99
SPOT PLATINUM: 872.80      
Platinum Platypus 1.00 887.80 917.80 917.80
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© 2015 Little Mountain Corporation, d.b.a. The Moneychanger. All rights reserved. May not be republished in any form, including electronically, without our express permission.

Warnings and Disclaimers

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 trend is up, targeting 16:1 gold/silver ratio or $195.66; stock's primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 16 ounces of silver. US$ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down.

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 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. For additional information, please see our Ten Commandments for Buying Gold and Silver.
  • One final warning: NEVER insert a 747 Jumbo Jet up your nose.

Explanation of Terms

The US DOLLAR INDEX is the average exchange rate for the US dollar against the Euro, Yen, Pound sterling, Canadian Dollar, Swiss Franc, and Swedish Krona, weighted for each country's trade with the US. It gives a general measure of the US dollar's performance against all other currencies.

The DOW IN GOLD DOLLARS measures the Dow Jones Industrial Average in gold dollars (0.048375 troy oz. by law). The DiG$ depicts the Primary (20 year) Trend of stocks against gold. When the DiG$ is dropping, gold is gaining value against stocks in a trend that should last 15-20 years. The DiG$'s chart is identical to the Dow in ounces of gold, but gives us one unvarying measure all the way back to 1896. Because it shows the primary trend ("tide") of gold against stocks, for investors it is the single most important financial chart in the world today. Since its August 1999 high at G$925.42 (44.8 ounces), the DiG$ has trended down, targeting a G$80-G$20 (4-1 oz. of gold will buy the whole Dow).

The DOW IN SILVER OUNCES shows how many ounces of silver are needed to buy the entire Dow. The DiSoz is trending down with a target of under 36 ounces.

The GOLD/SILVER RATIO is the gold price divided by the silver price, and shows how many ounces of silver it takes to buy one ounce of gold. The Ratio shows us the Primary (20 year) Trend of gold's value against silver. When the Ratio's trend is dropping, silver is gaining value against gold. This trend targets a gold/silver ratio of 16 ounces of silver to one of gold within the next 5-10 years. That implies that silver will massively, vastly outperform gold before this bull market ends. When both metals are rallying, the ratio often (but not always) drops, confirming the rally.

Other Important Information

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