Free Daily Gold and Silver Price(rate) and Market Trends----------------------As On 14-08-2009

Market Commentary:-

Our Free Daily Gold Price(rate) Trends opened at 959.25/960.25 and climbed on the back stronger oil prices and a weaker USD, peaking at 960.75/961.75. Worse than expected retail sales caused equity markets to tumble and the metal quickly followed. Gold Trends fell to an low of 952.00/953.00 before managing to recover. It became well bid as oil recaptured

lost ground and equity markets rebounded. Resistance was found near 960.00

and the market ticked sideways as the session unwound, Gold price(rate) closing at 954.25/955.25.

Our free daily Silver Price(rate) Trends opened at 1490.00/1493.00 in New York. Poor US economic data caused

equity markets to retreat and silver trends dipped to an intraday low of silver price(rate)1477.00/1480.00.

Copper and oil later rallied helping the metal take back lost ground, climbing above

1500.00 USD/ozs and, touching a high of 1505.00/1508.00. It slipped marginally

off its highs and traded lightly in a range to finally settle at 1500.00/1503.00.

Technical Commentary

Gold price(rate) closed relatively unchanged, though slightly down on the day, after trying to

the highest intraday level in three sessions. This removes some of the downside

heaviness in the metal's price action this week, though we are still trading well

below the level where we began the week. While we've documented where support

is to be found on an intraday basis this week, the topside seems to be constrained

at $960 on a closing basis. Downtrend resistance currently comes in

$969.75, with a break of that leading to a $980 target.

Silver price(rate) 2.9% jump was impressive as was its ability to test back up to resistance of

15.05 (the high today and from August 6th). The chart pattern and studies all point

to further upside in the metal and a break and close above 15.05 tomorrow would

confirm this. Support lies at today's low of 14.77, followed by the 9-day moving

average of 14.55; while resistance comes in at the June 11 high of 15.54.

This is our Free Daily Gold and Silver Price(rate) and Market Trends

Daily gold and silver price(rates)

Wednesday As On 13-08-2009

Daily Gold Price(rate) Close Today : 950.70

Change: 4.90 or 0.5%

Daily Silver price(rate) Close Today : 14.578
Change: 24 cents or 1.7%

platinum price(rate) Close Today: 1242.90
Change: 3.00 or 0.2%

Plladium price(rate) Close Today: 273.40
Change: -3.00 or -1.1%

Daily Gold and Silver Ratio Today: 65.21
Change: -0.750 or -1.1%

Dow Industrial: 9,361.61
Change: 120.16 or 1.3%

US Dollar Index: 78.85
Change: -0.30 or -0.4%


The Daily GOLD PRICE(rate) rose a lazy $4.90 to close on Comex at $950.70, up, but not above $954-$955 resistance.

The Daily SILVER PRICE(rate) rose 24 cents to $14.578 cents. Okay, okay, so far, so good, but these closes are mid-range values, not break-outs up or down, so we are still watching.

I'm still looking at two outcomes. Less likely is a surprise US Dollar rally that slows gold's final thrust through $1,000 by 3 to 6 months. More likely is sideways to higher Daily silver and gold prices(rate) through August, with a rise to pierce $1,000 in the fall. SOMETHING needs to break out of its range to make clear which to expect.

However, long term nothing has changed. As the FOMC statement today re-iterates, the Fed has inflated, is inflating, and will inflate. Therefore the dollar will continue to decline over the long term, and silver and Daily gold prices(rate) will continue to rise, since they are the only stable alternative currencies.

The US DOLLAR INDEX dropped 29.7 basis points, which to me wasn't large enough to say much. What's that phrase all the gurus use? "A muted response." Yeah, that's it. News that dollar interest Daily rates are likely to stay low until palm trees grow in Greenland isn't really good news for the buck, since relative interest rates are one of the primary determinants of short term exchange rates. And of course, the rest of the FOMC's statement was merely, "Inflation, inflation, and more inflation." Yet the buck only fell 29.7 bps, and not to next support which would have been 78.33. Let's see now what a couple of days' trading does. Events have not yet foreclosed a dollar rally.

Daily gold and Silver Price:-

STOCKS are feeding still off a dwindling dollar, and greeted today's FOMC announcement with a cheery 120.16 upmove to Dow 9,361.61. S&P 500 jumped over the 1,000 hurdle to close at 1,005.81, up 11.46. Rally continues, and will move higher. Use this last chance to get out of stocks.

Daily Gold and Silver Price(Rate) As on 12-08-2009

Daily Gold Price(Rate) Close Today : 945.80
Change: 0.8 or 0.1%

Daily Silver Price (Rate) Close Today : 14.338

Change: -1 cents or -0.1%

Platinum Price(Rate) Close Today: 1241.50
Change: -10.00 or -0.8%

Palladium Price(Rate) Close Today: 275.60
Change: -2.00 or -0.7%

Daily Gold Silver Price(Rate) Ratio Today: 65.86
Change: 0.567 or 0.9%

Dow Industrial: 9,241.45
Change: -96.50 or -1.0%

US Dollar Index: 79.14
Change: -0.06 or -0.1%

The whole world, or the markets at least, are holding their breath before tomorrow's Federal Reserve Open Market Committee. Ho-hum. Whatever they do will have no more than passing effect.

US DOLLAR INDEX today remained essentially flat, down 5.6 basis points to 79.144. Nothing. I am still waiting to parse the dollar, whether it will rally further and delay Daily Gold and Silver Price(rate) or resume its fall. Stay tuned until the Holy Monetary Monks read the sheep guts and speak their oracles.

STOCKS moved more than other markets today, with the Dow dropping 96.5 to 9,241.45. Just my gut feeling, but I think this is a shallow correction indicating buying power under the market. After all, what else can people buy, other than stocks? Most don't have enough imagination, or have been too misled and brain-washed, even to consider silver or gold. But the rally is a seducer, a Siren, a trap for bulls set by the bear. Use higher stock Daily prices(rate) to sell whatever stocks you have left, and put the proceeds into silver and gold.

On Comex today Daily GOLD Price(rate) closed up a mighty, a magnificent, eighty cents at US$945.80. Whole day was slow, with a high at 949.70 and low at 942.10. It's a wonder the floor traders didn't fall asleep on their feet.

And Daily SILVER Price made big moves likewise, closing down one cent [sic] at 14.338 cents.

Tomorrow's FOMC announcement will take pressure off markets one way or the other. I know, I understand, it is repeated to me o'er and o'er that metals are in danger of falling off here, but until I see the Daily gold price(rate) drop below 920 then 909 and the silver price below 13.75, I won't be joining their opinions.

On this day in 1860 opened the first successful US silver mine near Virginia City, Nevada. The fabled Comstock Lode between 1859 and 1911 produced 7,380,000 ounces of gold and 176,640,000 ounces of silver. You can still visit the old mines in Virginia City, near Reno.