Highest Weekly BLOOMBERG GOLD Price Close in History

Highest Weekly BLOOMBERG GOLD Price Close in History

BLOOMBERG GOLD PRICE CLOSE Today : 1,004.90
Gold Price Close September 4th: 995.80
Change: 9.10 or 0.9%

BLOOMBERG SILVER PRICE Close Today : 16.676
Silver Price Close September 4th: 16.268
Change: 40.80 or 2.5%

Bloomberg Platinum Price Close Today: 1,319.00
Platinum Price Close September 4th: 1,258.00
Change: 61.000 or 4.8%

Bloomberg Palladium Price Close Today: 291.50
Palladium Price Close September 4th: 295.00
Change: -3.500 or -1.2%

Bloomberg Gold Silver Ratio Today: 60.26
Gold Silver Ratio September 4th: 61.21
Change: -0.95 or -1.6%

Dow Industrial: 9,605.41
Dow Industrial September 4th: 9,441.27
Change: 164.140 or 1.7%

US Dollar Index: 76.608
US Dollar Index September 4th: 78.136
Change: -1.528 or -2.0%

Today the BLOOMBERG GOLD PRICE made its highest Comex close in history at US$1,004.90, up $9.50 for the day. It has taken gold a week to get through the resistance, but I believe it has now succeeded.

The bloomberg gold price opened at $999.65, quickly made a low at $997.15, then climbed straight for the ceiling and never again traded below US$1,000.

This is it. Unless the bloomberg gold price closes Monday below US$1,000, this is the Big Breakout, and will lead to a gold rise of at least $250 an ounce. Assuming we get that over-one-thousand-dollar-close on Monday, you cannot wait longer. This is the gold breakout you must buy or be left behind. Once gold settles itself over US$1,000 with a two day close, it will never trade under US$1,000 again.

This week (yesterday, actually) the SILVER PRICE traded back to $16.00 for the last time,kissing that mark good-bye forever. Silver's high today was $16.97, the low $16.61, but was knocking on the $17.00 ceiling all day. The Comex close at $16.6760 (up only 2.6 cents) really distorts today's results, because most of the day silver traded around $16.80, and is trading there yet.

Everything I said for gold applies all the more strongly to silver. I did some measuring on the silver price chart today and got numbers so outlandish that I'm not going to repeat them because y'all won't believe them -- not yet, anyway.

The BLOOMBERG GOLD/SILVER ratio is about to drop very fast. I'm looking to trade silver for gold at 51, but that's only a first approximation. Let it take a week or two to trade, and we'll see then.

The DOW IN BLOOMBERG GOLD DOLLARS has turned down. Bloomberg Gold is about to outshine stocks blindingly.

The US DOLLAR lost 153 basis points this week. It has closed below 78.33 and 77.50 support, the last stopping point. Next logical stop is 74.50.

STOCKS seem to be forming an rising wedge, the worst possible juju. Twill fall like your keys out of your pocket when you lean over a well.

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Bloomberg Gold primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver 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.