Gold Future Price and Silver Future Price Trading

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As On Saturday 22-08-2009

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Gold Future Price Close Today : 953.20
Gold Future Price Close 14 August: 947.00
Change: 6.20 or 0.7%

Silver Future Price Close Today : 14.16
Silver Price Close 14 August: 14.715
Change: -55.50 cents or -3.8%

Platinum Future Price Close Today: 1,256.50
Platinum Price Close 14 August: 1,260.50
Change: -4.000 or -0.3%

Palladium Future Price Close Today: 281.25
Palladium Price Close 14 August: 276.00
Change: 5.250 or 1.9%


Gold Silver Future RatioToday: 67.32
Gold Silver Ratio 14 August: 64.36
Change: 2.96 or 4.6%

Dow Industrial: 9,506.96
Dow Industrial 14 August: 9,321.40
Change: 185.560 or 2.0%

US Dollar Index: 78.044
US Dollar Index 14 August: 78.801
Change: -0.757 or -1.0%

Yesterday's tense equilibrium in gold Future at US$940 gave way today. The GOLD Future PRICE burst upwards on open like a covey of quail, hit a high of $958, and closed on Comex at US$953.20, up $12.90. When gold popped, it ran to the next resistance level, that important $954-$955.

Now, this is an upside breakout, but to confirm gold Future must close above its last high, over US$961. Today gold broke out way above the downtrend line from early august. But a close over $965 is needed to break through the downtrend line from June.

If this is a genuine break-out, and not a fake-out, it will be a breakout that never looks back. Buy now or never.

This week's fall took the Silver Future Price below its trading channel, but today brought it back to that threshold. Silver Future jumped 28.4 cents to close at $14.16 on Comex. It wants to go higher. The weekly chart remains in an uptrend from last November -- strong as the proverbial garlic milkshake. Buy silver Future, buy silver Future.

The US DOLLAR INDEX fell through 78.33 support, dropping 34.7 basis points to 78.044. If the dollar now confirms this break by closing below 77.43, which had been the bottom of the upside-down head & shoulders, then the dollar will most certainly have set its scrofulous feet on the road to 74, and banana republic status.

Sound overcautious? Well, markets have been slapping me around for 30 years, so I've learned to be both chary, wary, and leery. In other words, I've learned respect. The only time a move is really sure is when it's over.

STOCKS surprised me (and others, I'll bet) by cracking 9,400 to rise to 9,506.96, up today 155.91. S&P500 did even better, rising 18.76 to 1,026.13. What gives? Sometimes the B wave of an A-B-C correction(down - up - down) is so strong that it exceeds the previous high. Or maybe stocks have completed their correction and started moving up again. Either way, this no more shows health than the fevered red cheeks on a dying man. Be wise, use stock market strength to sell stocks and convert proceeds into silver future or gold future.

The DOW IN GOLD DOLLARS (DiG$) has moved up very, very slowly, i.e., stocks have slowly edged up against gold. There's probably not another G$10 (0.4838 ounce) left in it. That hints gold Future should rise to overtake stocks.

On 21 September I will be speaking in Lexington, South Carolina about silver future and gold Future and about re-building local economies. That's really the only way we can get out of this economic swamp permanently. I'll announce the place as time grows nearer.

Argentum et aurum comparenda sunt -- -- Gold Future and silver Future must be bought.