The Moneychanger
Daily Commentary
Tuesday, 7 March a.d. 2017 Browse the commentary archive

Heads up! Gotta make this fast. Had to go to Chattanooga last night for appointment with surgeon today to get the pins pulled out of my toes. All went fine, nearly grossed out my son, Wright, who took me. Feels strange, but doesn't hurt. I can now navigate much better, thank God.

US dollar rose 14 basis points today (0.13%) but has done nothing yet to disprove head & shoulders topping formation. Chart explains, Must mightily pierce that shoulder line upwards and climb on to gainsay head & shoulders implication of a large drop coming.

Stocks keep eroding daily. Haven't yet ruined the potential for an island reversal. March 217 marks the 17th anniversary of the March 2000 top, so watch for that 17 year cycle to kick in. You know, like the 17 year locusts.

Dow shaved off 29.58 (0.14%) to 20,924.76 while the S&P500 lost 0.3% or 6.92 to 3,465.61. Dow is here, and the S&P 500 chart here,

Gold fell $9.40 or 0.8% to $1,215.10 on Comex. Silver tumbled 23.3¢ (1.3%) to 1749.2¢.

Visit the gold chart right here,

Gold has traded down to bump into support at that bowl lip where it broke out early in February. This wreaks no harm, but really shouldn't carry much further, say to the 50 DMA at $1,207.60. Otherwise there will be pain for gold holders.

Silver's picture is hiding here,

Silver dropped thru the uptrend line from the December low today, but caught on the downtrend line from the July high. Neckline at 1725¢ has always been a possibility. Correction should be nearing its end.

When I become dictator for life there will be a huge economic boom. Upon penalty of firing squad I will require that all those stingy, automatic electric eye towel dispensers be replaced with dispensers that have honest hand cranks, not to mention replacing all the electric eye chintzy soap squeezers and toilet flushers. A boom will result as American made dispensers and toilet flush handles must be provided for millions of restrooms across the country.

AND I will outlaw those voice mail trees with levels & levels of "For accounting, press 3305" until they finally take you to somebody who never answers her telephone anyway. Think how many people we can put to work as receptionists & phone operators, and how much less frustrated and how much happier we'll all be.

You see, it really isn't necessary to start a war to make the economy prosper.

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

— Franklin Sanders, The Moneychanger

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Market Snapshot See more charts and market data
7-Mar-17 Price Change % Change
Gold, $/oz 1,215.10 -9.40 -0.77%
Silver, $/oz 17.49 -0.23 -1.31%
Gold/Silver Ratio 69.466 0.383 0.55%
Silver/Gold Ratio 0.0144 -0.0001 -0.55%
Platinum 959.60 -17.10 -1.75%
Palladium 776.75 2.75 0.36%
S&P 500 2,365.61 -6.92 -0.29%
Dow 20,924.76 -29.58 -0.14%
Dow in GOLD $s 355.98 2.23 0.63%
Dow in GOLD oz 17.22 0.11 0.63%
Dow in SILVER oz 1,196.25 14.06 1.19%
US Dollar Index 101.78 0.14 0.14%
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: 1,214.90      
GOLD Fine Tr.Oz. BID ASK $/oz
American Eagle 1.00 1,244.06 1,254.38 1,254.38
1/2 AE 0.50 625.16 639.64 1,279.29
1/4 AE 0.25 318.65 326.50 1,306.02
1/10 AE 0.10 127.46 133.03 1,330.32
Aust. 100 corona 0.98 1,181.91 1,190.91 1,214.97
British sovereign 0.24 288.13 301.13 1,279.24
French 20 franc 0.19 226.82 232.82 1,247.04
Krugerrand 1.00 1,225.83 1,235.83 1,235.83
Maple Leaf 1.00 1,224.90 1,237.90 1,237.90
1/2 Maple Leaf 0.50 698.57 637.82 1,275.65
1/4 Maple Leaf 0.25 309.80 324.99 1,299.94
1/10 Maple Leaf 0.10 128.78 132.42 1,324.24
Mexican 50 peso 1.21 1,451.50 1,462.50 1,212.99
.9999 bar 1.00 1,214.90 1,226.90 1,226.90
SPOT SILVER: 17.47      
SILVER Fine Tr.Oz. BID ASK $/oz
VG+ Morgan $B4 1905 0.77 22.50 26.00 33.99
VG+ Peace dollar 0.77 16.00 18.00 23.53
90% silver coin bags 0.72 12,240.80 12,598.30 17.62
US 40% silver 1/2s 0.30 4,961.90 5,111.90 17.33
100 oz .999 bar 100.00 1,737.00 1,762.00 17.62
10 oz .999 bar 10.00 176.20 181.20 18.12
1 oz .999 round 1.00 17.72 18.02 18.02
Am Eagle, 200 oz Min 1.00 18.47 19.72 19.72
SPOT PLATINUM: 959.60      
Plat. Platypus 1.00 954.60 999.60 999.60
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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.

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