The Futures Gold Price Must Not Break $930-$928
and Needs to Climb Above $961 for a Breakout.
As On Wednesday 19-08-2009
Futures Gold Price Close Today : 937.70
Change: 3.40 or 0.4%
Futures Silver Price Close Today :13.956
Change: -1.5 cents or -0.1%
Platinum Price Close Today: 1,234.00
Change: 14.40 or 1.2%
Palladium Price Close Today: 273.70
Change: 7.35 or 2.8%
Futures Gold Silver Price Ratio Today: 67.19
Change: 0.315 or 0.5%
Dow Industrial: 9,217.94
Change: 82.60 or 0.9%
US Dollar Index: 78.98
Change: -0.36 or -0.5%
Today was a re-bound day on which prices rose satisfyingly, but without settling anything.
Futures SILVER Price low today at $13.825 made a double bottom with yesterday's $13.81 low. I like that very much indeed, although the Futures SILVER PRICE dropped 1.5 cents today to close on Comex at $13.9560.
Bellwether Futures GOLD Price didn't ring any special bells today. It was enough that the Futures GOLD PRICE traded in a tight range from $934.20 to $940. Futures Gold is walking the same tightrope today it has been walking: it must not break $930-$928 (could hit $918 on a one day spike), and needs to climb above $961 for a breakout.
I can promise you this at least: there is no lack of people who want to buy Futures gold whenever it drops. Ditto for Futures silver.
The US DOLLAR INDEX sank 36 basis points to close at 78.983 -- little more than a bounce off the 50 day moving average. $ Index must break 78.33 to turn down.
Nothing new with stocks today. Dow closed up 82.6 at 9,217.94, S&P up 9.94 at 989.67. Correction is not finished, but then, the rally probably hasn't finished yet, either. Sell stocks and put proceeds into Futures Silver Price and Futures Gold Price.
Change: 3.40 or 0.4%
Futures Silver Price Close Today :13.956
Change: -1.5 cents or -0.1%
Platinum Price Close Today: 1,234.00
Change: 14.40 or 1.2%
Palladium Price Close Today: 273.70
Change: 7.35 or 2.8%
Futures Gold Silver Price Ratio Today: 67.19
Change: 0.315 or 0.5%
Dow Industrial: 9,217.94
Change: 82.60 or 0.9%
US Dollar Index: 78.98
Change: -0.36 or -0.5%
Today was a re-bound day on which prices rose satisfyingly, but without settling anything.
Futures SILVER Price low today at $13.825 made a double bottom with yesterday's $13.81 low. I like that very much indeed, although the Futures SILVER PRICE dropped 1.5 cents today to close on Comex at $13.9560.
Bellwether Futures GOLD Price didn't ring any special bells today. It was enough that the Futures GOLD PRICE traded in a tight range from $934.20 to $940. Futures Gold is walking the same tightrope today it has been walking: it must not break $930-$928 (could hit $918 on a one day spike), and needs to climb above $961 for a breakout.
I can promise you this at least: there is no lack of people who want to buy Futures gold whenever it drops. Ditto for Futures silver.
The US DOLLAR INDEX sank 36 basis points to close at 78.983 -- little more than a bounce off the 50 day moving average. $ Index must break 78.33 to turn down.
Nothing new with stocks today. Dow closed up 82.6 at 9,217.94, S&P up 9.94 at 989.67. Correction is not finished, but then, the rally probably hasn't finished yet, either. Sell stocks and put proceeds into Futures Silver Price and Futures Gold Price.
To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Futures Gold Price primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 futures gold Price and futures silver price ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.
