Silver and Gold Prices Remain Strong

Silver and Gold Prices Remain Strong

BLOOMBERG GOLD PRICE CLOSE Today : 995.30
Change: -2.60 or -0.3%

BLOOMBERG SILVER PRICE Close Today : 16.443
Change: 10.50 or 0.8%

Platinum Price Close Today: 1286.00
Change: -11.50 or -0.9%

Palladium Price Close Today: 290.90
Change: -1.85 or -0.6%

BLOMBERG GOLD SILVER Ratio Today: 60.53
Change: 0.008 or 0.0%

Dow Industrial: 9,627.48
Change: 80.26 or 0.8%

US Dollar Index: 76.82
Change: -0.20 or -0.3%

The BLOOMBERG GOLD PRICE climbed steadily all day to close up a dime at US$995.40. I'm not sure the NY Forex chart I am looking at is accurate, because it looks like there's an artifact on the chart, a trade down to a low of $980.85. That was the low or $983, but either way that potentially suffices to meet my correction target. If I'm a little early, gold will see a weak day tomorrow, with a low in the mid to low $970s.

The BLOOMBERG SILVER PRICE rose 20.7 cents to close at $16.65 on the Comex. Silver's low today was $16.0 a3, so you can see that it fought much more than 20.7 cents up from that hole. BLOOMBERG SILVER and GOLD PRICES remain strong, but this is an unstable situation. Metals must turn around and pull up soon. I regret I won't be here next week to watch.

The US DOLLAR INDEX kept on falling, down another 20 basis points to 76.82. STOCKS are enjoying it, though. The S&P500 climbed 10.77 points to close at 1,044.14, while the Dow rose 80.26 to 9,627.48. Rising wedge formation, such as is forming, resolves to the downside.

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; BLOOMBERG silver's primary is up targeting 16:1 BLOOMBERG 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.

Daily Update

Wednesday, September 10, 2009

Market Commentary

BLOOMBERG Gold opened at 997.50/998.50 and rallied on the back of a weakening USD

and stronger oil, finding resistance near 1000.00. It traded erratically within a

range for much of the session, touching a high of 1002.00/1003.00 but it could

not sustain this level very long. The metal became well offered during the

latter end of the day, slipping to an intraday low of 993.50/994.50 and later

closed marginally higher at 995.00/996.00.

BLOOMBERG Silver opened at 1655.00/1658.00 in New York. Rallying oil, stronger equities

and a slumping USD inspired good buying as the session got underway. The

metal stayed well bid, climbing to an intraday high of 1667.00/1670.00 before

it retreated, washing out longs. The selling continued as the trade day unwound,

finally closing on its lows at 1641.00/1644.00.

Technical Commentary

BLOOMBERG Gold failed to revisit yesterdays high of 1007 high and eventually was

sold down to current 989. After 6 up days that took the unit from 947

to 1007 it looks like we finally ran into sellers. The break of 990 has

triggered our stop loss on the long position recommended on a break

of 965. It will be interesting to see if the unit revisits former resistance

line at 975. This is only the first down day so we do not expect larger

selling unless the 965 breaks.

BLOOMBERG SILVER has registered its first down day in weeks with the unit dropping

back to current 16.31. We do not expect selling of silver to enter the

market until a move back below 16.00. The BLOOMBERG Gold Silver ratio has

moved higher today to 60.75 from yesterdays close of 60.14. The ratio

looks weak while below 61.8% Fibo level 61.42. Only a close back

above this level will stabilize the overall bearish pressure on the ratio.

The BLOOMBERG Gold Price Must Pierce US$1,000, or Fail Miserably

The BLOOMBERG Gold Price Must Pierce US$1,000, or Fail Miserably

BLOOMBERG GOLD PRICE CLOSE Today : 997.90
Change: 3.00 or 0.3%

BLOOMBERG SILVER PRICE Close Today : 16.488
Change: 22.5 cents or 1.4%

Platinum Price Close Today: 1287.00
Change: 24.00 or 1.9%

Palladium Price Close Today: 297.00
Change: 3.00 or 1.0%

BLOOMBERG Gold Silver Ratio Today: 60.52
Change: -0.653 or -1.1%

Dow Industrial: 9,497.34
Change: 56.07 or 0.6%

US Dollar Index: 77.29
Change: -0.74 or -0.9%

When I walked in this morning, the BLOOMBERG GOLD PRICE was already over US$1,000 and the SILVER PRICE at $16.80. It backed off reluctantly, closed up only 3 on Comex at $US$997.90, then climbed back to US$1,000 + in the aftermarket, where it still sits. Gold's high came at US$1,007.50.

The hit a high of $16.81 today, then closed at Comex up 22.5 cents at $16.4880. It's trading now at $16.58.

Both BLOOMBERG SILVER PRICE and GOLD PRICE have run a long ways and need to stop and breathe. My friend Bob the Technical Genius called today and opined that gold would probably back off to the low $980s tomorrow or next day, then take off. He and I agree about one thing: gold must not fail here. A friend told me about gurus on Bloomberg this morning babbling that gold might pull back to $950 before clearing $1,000. Hogwash. Gold has huge momentum, this is its third attack on $1,000, and markets don't make triple tops. Gold must pierce US$1,000, or fail miserably and fall very far. There's no indifference, no make-up-your-mind dancing here, only clear the bar or die.

Right here BLOOMBERG SILVER and GOLD PRICES are very much overbought, but strength is still there. The public is selling as much as buying, a very good sign. Oh, gold might spend a few days or a week crawling on the ceiling here, but it cannot correct US$50, it must advance.

As if to answer our questions, the US DOLLAR INDEX fell through 78.33 resistance, and then kept on falling, clean through 77.50 to a low of 77.047 today. Right now it's trading down 73.5 basis points at 77.289. No more confirmation necessary: dollar is headed down.

STOCKS refuse to drop and continue edging upwards. Dow added 56.07 today to close at 9,497.34. S&P gained 8.99 to close at 1,025.39. Stay out of stocks. Any further rally should be used as an opportunity to sell the rest of any stocks you hold, including those in IRAs or 401(k)s.

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 primary is up targeting 16:1 BLOOMBERG 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.

Market Watch:-

--------------------

Bloomberg Gold opened at 990.50/991.50 in New York. Employment data

landed near expectation and had little impact on the metal. It traded

erratically within a range, slipping to an intraday low of 985.00/986.00.

Equity markets later turned positive, the dollar lost ground and gold

rallied. It remained well bid, peaking at 996.75/997.75. From here it

retreated from the highs as the trading day unwound, settling at

995.00/996.00.

Silver opened at 1606.00/1609.00 and climbed ahead of the economic

data, finding resistance near 1615.00. It pulled back and

traded lightly within a range as investors digested the employment

data. Profit taking later dragged the metal to a low of

1583.00/1586.00. This move quickly reversed on the back of stronger

equity markets and a weaker dollar. Silver climbed to a high of

1635.00/1638.00 before coming off and finally closing at

1626.00/1629.00.

Technical Commentary:-

-----------------------------

Bloomberg Gold on the weekly chart is showing a consolidation triangle breakout

to the topside at current 991. The weekly close above resistance lines

at 965 and 976 bodes well for further gains up to the 2009 high of

1006 and possibly to the 2008 high of 1032. We suspect the market

will look to buy Bloomberg Gold on any dip to 976 with stop losses back below

965.

Silver on the weekly chart is showing a strong move to the topside at

current 16.16. The unit touched a fresh 2009 high this week of 16.31.

Our next resistance is the 16.45 area which represents the 61.8%

Fibonacci retracement of the 21.35 to 8.54 down move. A move

above 16.45 would opens up the 76.4% retracement level of 18.32.

The Bloomberg Gold Silver ratio moved lower to a fresh 2009 low of 61.35. This

area represents the 61.8% Fibo retracement of the 47.52 to 83.90 up

move. A clean break lower opens up 76.4% level of 56.11.

BloomBerg News Silver and Gold Futures Prices are Just Starting their Most Explosive Upmoves

BloomBerg News Silver and Gold Futures Prices are Just Starting their Most Explosive Upmoves

BloomBerg Gold Futures Price Today : 995.80
Gold Price Close August 28: 957.00
Change: 38.80 or 4.1%

Bloomberg Silver Futures Price Close Today : 16.268
Silver Price Close August 28: 14.784
Change: 148.40 cents or 10.0%

Platinum Futures Price Close Today: 1,258.00
Platinum Price August 28: 1,245.30
Change: 12.700 or 1.0%

Palladium Futures Price Close Today: 295.00
Palladium Price August 28 : 287.80
Change: 7.200 or 2.5%

Bloomberg Gold Silver Futures Ratio Today: 61.21
Gold Silver Ratio August 28: 64.73
Change: 3.52 or -5.4%

Dow Industrial Futures: 9,441.27
Dow Industrial August 28: 9,544.20
Change: -102.930 or -1.1%

US Dollar Futures Index: 78.136
US Dollar Index August 28: 78.366
Change: -0.230 or -0.3%

Although the US Dollar Index has not confirmed a fall by closing below 77.50, it lost 23 basis points this week and closed today beneath 78.33 support. The relatively small fall in the dollar does not justify the large rises as per Bloomberg News silver and gold prices, so something else is driving metals up. Notice that silver and gold futures prices are rising against ALL fiat currencies, not only the scrofulous US dollar.

Let me get stocks out of the way. Today news as per Bloomberg stocks rose fairly strongly. The Dow rose 96.66 to close at 9,441.27, losing 102.93 points for the week. S&P closed up 13.16 at 1,06.46, down 12.47 for the week. I'm guessing stocks have one more leg up in their rebound rally from the great fall, but one way or the other, I don't want to own stocks. Stay away from them, they're locked in a bear market and have another 80% to lose against silver futures and gold futures prices.

SILVER and GOLD performed with breath-taking strength this week. The Gold futures Price rose $38.80 (4.1%) to close the week at US$995.80. Plainly next week GOLD will be hammering on $1,000's gate. It may fall back a bit, even as far as 981, to get a running start, but it will most likely pierce US$1,000 this next week.

SILVER rose 148.4 cents this week, 10%, to close the week at 16.268, a new high since last November's bottom at 880 cents. That's right, do that math: silver stands at 185% of its November low. What is most amazing is that 120 cents of that rise came in two days' trading this week.

Cowardice makes me want to hedge what I say, or maybe that's experience, but look at this: the silver price did not rise 120 cents after running through a long rally. Oh, no, it traded into a long triangle in a 10 month correction, then made that huge gain in two days breaking out of a triangle. Bloomberg Gold behaves similarly.

That argues that this rally is only beginning, and not about to end. Now this might be the bull trap to end all bull traps, but logic and the chart by Bloomberg says silver and gold prices are just starting their most explosive upmoves. Once the gold prices passes $1,000.00 with a consecutive two-day close over that number, it will never trade below $1,000 again. And silver will tag right along for the ride.

Next week metals may correct, giving y'all a single last chance to buy. News by Bloomberg (Once the gold price closes above $1,000), just buy. It will run away.

Dow in Silver Ounces fell below 600 this week, so it's starting another big move. And the gold/silver ratio dropped 4.6% to close below 62 at 61.2

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold Bloomberg 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.

This news as per by Bloomberg thanks.

Todays Indian Gold Rates/Gram

---------------------------------------------

24 Carat Indian Gold Rate:- 1580/Gram

23 Carat Indian Gold Rate:- 1514/Gram

22 Carat Indian Gold Rate:- 1448/Gram

21 Carat Indian Gold Rate:- 1382/Gram

20 Carat Indian Gold Rate:- 1316/Gram

19 Carat Indian Gold Rate:- 1250/Gram

18 Carat Indian Gold Rate:- 1185/Gram

17 Carat Indian Gold Rate:- 1119/Gram

16 Carat Indian Gold Rate:- 1053/Gram

You are Probably Watching the Last Days of Gold Futures Below US$1,000 -- Forever

You are Probably Watching the Last Days of Gold Futures Below US$1,000 -- Forever

GOLD FUTURES PRICE Today : 993.80
Change: 16.20 or 1.7%

SILVER FUTURES PRICE Close Today : 16.135
Change: 79.5 cents or 5.2%

Dow futures Industrial: 9,344.61
Change: 63.94 or 0.7%

US Dollar futures Index: 78.44
Change: 0.05 or 0.1%

The great H.L. Hunt said, "Never get really elated in victory; when times are tough, never get down." I'm as delighted as any other silver bug right now, but let's keep our heads screwed on.

In the past two (2) days, the GOLD FUTURES PRICE has risen US$40.30; the SILVER FUTURES PRICE has risen $1.20. Quite literally, gold is knocking on the US$1,000 door.

What impresses me about this? These rises have occurred not at the top of a long-time movement, but upon breakout from a triangle. The furious moves show not a rally ending, but a rally beginning. Volume is strong, confirming the breakout.


After two such strong days, 'twouldn't surprise me that silver futures and gold futures prices backed off tomorrow, only to resume their advance on Monday.

Today gold futures closed on Comex up $16.20 at US$993.80. Silver Futures rose 79.5 cents to end on Comex at $16.135.

GOLD FUTURES next move must be to cross US$1000. That sets up a climb to US$1,325. SILVER FUTURES has climbed above its 2 June 2009 high at $15.945, and
closed over $16.00. It has crossed above the downtrend line from last June. It is set up to run, so get out of the way.

Add fuel to the fire. Gold Futures has plainly broken out upside in Euros. In Yen it has not yet broken out, but has turned up strongly and is close to breaking out. Indicators have turned up. Point is, this metals rally has not been sparked by a falling dollar, but hints to be a rally against all fiat currencies.

Unless the US dollar blindsides gold futures with a rally, you are probably watching the last days of gold futures below US$1,000 -- forever.

The dollar, in fact, rose a bit today up 5.3 basis points to 78.437. The dollar index has traded into a tight triangle. A close below 78 will be fatal, a close above 79 could lead to a rally. However, the silver futures and gold futures markets are signalling that they know something the currency markets don't yet know.

Meanwhile the gold futures and silver futures ratio has acted precisely as it should, falling from 63.526 three days ago to 61.592 today. And the Dow in Gold Futures Dollars has collapsed from G$208 (10.031 oz) to G$194.38 (9.375 oz). Are y'all beginning to understand why I keep recommending y'all buy more silver futures than gold futures?

STOCKS made good their losses today. Dow rose 63.94 to 9,344.61, and S&P500 climbed over 1,000 to clsoe at 1,003.24, up 8.49. Stay out of stocks. Watch from a distance. Sell any you still have, other than precious metals stocks.

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

Our Daily Mcx Futures Tips

----------------------------------

Buy September Mcx Futures Crude Above @ 3344

Target 3357-3385-3417

Stop loss - 3344

Sell September Mcx Futures Crude Below @ 3318

Target 3307-3261-3183

Stop loss - 3344

Note:- We are Not giving you tips in large numbers or not in daily routine but when we give it we are dead sure.

Today's Indian Gold rate in Grams and Carats

-------------------------------------------------------

24 Carat Indian Gold Rate:- 1570/Gram

23 Carat Indian Gold Rate:- 1504/Gram

22 Carat Indian Gold Rate:- 1439/Gram

21 Carat Indian Gold Rate:- 1373/Gram

20 Carat Indian Gold Rate:- 1308/Gram

19 Carat Indian Gold Rate:- 1242/Gram

18 Carat Indian Gold Rate:- 1177/Gram

17 Carat Indian Gold Rate:- 1112/Gram

16 Carat Indian Gold Rate:- 1046/Gram

GOLD AND SILVER FUTURES REPORT

GOLD AND SILVER FUTURES REPORT

AS ON THURSDAY 03-09-2009

----------------------------------------------------------------------

GOLD FUTURES is Now On The Short Road to $1,000

GOLD FUTURES PRICE Today : 978.80
Change: 24.10 or 2.5%

SILVER FUTURES PRICE Close Today : 15.440
Change: 40.5 cents or 2.7%

DOW FUTURES INDUSTRIAL: 9,280.67
Change: -29.93 or -0.3%

US DOLLAR FUTURES INDEX: 78.00
Change: 0.58 or 0.7%

As I said yesterday, somebody had to give way today, and it was NOT SILVER and GOLD FUTURES.

The GOLD FUTURES PRICE burst its bonds with a vengeance. It gapped up at the opening (leaving a "runaway gap"), fought sideways around $965, then once through $965 jumped another $10. Closed on Comex at $978.80, up $24.10. Now it is trading at $978 - $980. Tomorrow I would be comforted to see it close above $980. Checking GLD the gold ETF today shows volume jumped from about 8 million shares to about 25 million today, confirming the breakout.

Not to be outdone by gold, the SILVER FUTURES PRICE jumped 40.5 cents to close on Comex at $15.44. It might encounter a little resistance at $15.50, but $16.00 remains the big target. A cross above $16.00 will send silver shooting rapidly toward $18.00.

What might gainsay my interpretation of upside GOLD FUTURES and SILVER FUTURES price breakouts? Only gold falling below $955 and SILVER FUTURES falling under $14.80. No, I believe gold is now on the short road to $1,000.

Yesterday the US DOLLAR INDEX jumped up when it crossed 78.4, and today it crashed down to and through 78.4. This looks like the Nice Government Men goosing a bunch of jittery shorts, then being met by a solid wall of selling beyond their power to throw back. Another interpretation is that today's fall is a touchback to point of upside breakout. Dollar index still must close below 78.33 and then 77.50 to confirm a breakdown. Today it closed at 78.394, down 32.6 basis points.

STOCKS today fell, the Dow 29.93 points to 9,280.67 and the S&P500 3.29 points to 994.75. Stocks are correcting right now, but I am not certain they will not yet climb once again before the whole rally ends.

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. GOLD FUTURES primary trend is up, targeting at least $3,130.00; SILVER FUTURES primary is up targeting 16:1 GOLD FUTURES and SILVER FUTURES ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold futures; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.

Strong Performance for Gold and Silver Prices

Strong Performance for Gold and Silver Prices

GOLD FUTURES PRICE Today : 952.40
Change: 0.70 or 0.1%

SILVER FUTURES PRICE Close Today : 14.985
Change: 8.7 cents or 0.6%

Dow FUTURES Industrial: 9,310.60
Change: -185.68 or -2.0%

US FUTURES Dollar Index: 78.72
Change: 0.58 or 0.7%

This was one be wildering day.

First, the US DOLLAR INDEX broke out of the tight triangle it had traded into, upwards. At this point, though, you have to wonder if this isn't just another fake-out, to be followed tomorrow by another fall to 78. The dollar index rose as high as 78.94, but as I write has dropped to 78.724, up 57.6 points. Market was flat until 11, when it crossed above 78.4 and shot up. To confirm, dollar tomorrow must cross above its 50 day moving average at 79.15. At the very least, it must gain tomorrow, and meatily, not a basis point or two. Top boundary of the larger triangle (mid-July to now) lies about 79.40. A close above 79.40 would certainly mark an upside breakout into a dollar rally.

Second, since the dollar rallied, SILVER FUTURES and GOLD FUTURES PRICES
must have fallen, right? Nope. The GOLD FUTURES PRICE closed up 70 cents to $952.40 at Comex close, but added another $4.30 in the aftermarket, and now stands at $956.70. The SILVER FUTURES PRICE rose 8.7 cents on Comex to close at $14.985. After Comex closed it promptly climbed over $15.00, and now trades at $15.06. Strong performance for both, but better for silver. Gold must not lag tomorrow, but must keep grinding toward $961. If silver remains above $15.00, it ought to run higher.

But wait, wait! What about the dollar rallying? Well, what about it? Seems that today the dollar only hurt stocks. The Dow peeled off 185.68 points to close at 9,310.60. Worse, the weaker S&P500 fell 22.58 to close at 998.04, below psychologically important 1,000 mark. Further downside lies in store for stocks.

What bringeth the morrow? I haven't a clue, but don't expect the dollar to rally hand in hand with silver and gold prices. Somebody has to give way here.

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. GOLD FUTURES primary trend is up, targeting at least $3,130.00; SILVER FUTURES 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.

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Silver is one of the chemical elements. Silver’s chemical symbol is Ag (Gold’s symbols is Au) and its atomic number is 49 (Gold’s is 79). Silver sits directly above Gold in the Periodic Table of the Elements as its electronic structure is similar. Therefore Silver has similar characteristics to Gold. Silver is relatively inert and malleable. Unlike Gold, Silver does tarnish. The best way to clean silver is with mild soap and warm water and then pat dry with a soft cloth. Chemical cleaners such as “silver polish” are completely unnecessary.

Silver is both an Industrial Metal and a Precious Metal. As an industrial metal Silver has many thousands of uses due to its outstanding qualities. Silver has the highest electrical and thermal conductivity of any element. Silver was critical to the photographic industry before digital cameras came along. The term “Silver Screen” refers to the fact that Silver was actually embedded into the screens in the early movie theaters. Silver even kills bacteria and is used in water filters for that purpose. New uses of Silver are found almost daily.

As a precious metal for money Silver has no equal in its widespread use. Silver coins are among the oldest examples of coined money. Gold is too valuable for everyday common use historically being worth sixteen times Silver. Silver prices are quoted in Troy Ounces. Silver futures contracts are traded on the COMEX in New York and on the London Metal Exchange. The Spot Price is published by the exchanges and is derived from the futures prices.

COMEX Silver futures contracts are for 5000 ounces cast into 1000 ounce bars. The vast majority of the activity on the COMEX is done by “traders” trying to make money on price fluctuation. The price of Silver set by the COMEX differs greatly from the Silver price paid by individuals for small amounts of Silver coins or bars. There is a big difference in that these small individual transactions involve real physical Silver – not paper contracts on an exchange. Thus, the Silver price for small amounts can be as much as 100% over the COMEX price. In times of economic uncertainty Silver can be very difficult to get as Silver is the money of the common person.

Another thing to keep in mind is the historical ratio between the Gold price and the Silver price. Over the long term one ounce of Gold is worth sixteen times that of one ounce of Silver. When the Gold/Silver ratio gets far from sixteen you expect a return to the mean. Silver price moves can be very volatile.

Everything that was said about how to think about owning Gold is true of Silver. Silver is insurance. Persons of modest means should make Silver their first priority. Silver is the money of everyday transactions. One ounce bullion coins and ten ounce bars are most convenient. In terms of one’s overall precious metals holding thirty to forty percent should be in silver.

Gold is one of the chemical elements. Gold's chemical symbol is Au and its atomic number is 79. Its chief characteristics are that it is inert and malleable. Inert means gold does not interact with other chemicals or compounds. Gold doesn't tarnish and even the strongest acids have no effect. Thus, gold lasts forever - and stays shiny the whole time!

Gold has many industrial uses, but its main historical uses have been for jewellery and money - both are a store of value. Gold has been used as a store of value for at least 5000 years. Gold is measured and prices are quoted in Troy Ounces and Grams. As an example of gold's ability to store value, 2000 years ago one ounce of gold would buy a fine man's outfit. Today one ounce of gold will still buy a good quality man's wool suit with enough left over to buy a few shirts, a tie, some underwear, socks, a pair of shoes and a belt!

Gold has been called a "barometer of fear." When people are anxious about the economy - they turn to gold and bid the price up. The two main things that make people anxious are deflation and inflation. Most think that deflation is "falling prices" and inflation is "rising prices." Actually, rising and falling prices are symptoms. The root causes are decreases (deflating) or increasing (inflating) of the money supply. Gold has the remarkable ability to store value in both deflationary and inflationary times.

The correct way to think about owning gold is as insurance. Gold is a store of value virtually independent of economic conditions. Unlike shares of a company or government bonds - gold will always retain value. Gold's most important use is insurance against the paper (fiat) currency of the country you live in. Almost every country has had at least one major "currency crisis" over the last one hundred years. Those that had some of their wealth in gold survived. Unfortunately many people saw their saving become worthless - sometimes in a matter of days.

So, think of gold as insurance. Do not think of gold as a way to "make money." Do not try and "time the market." It is better to buy gold in small amounts regularly, every month for example, over a period of time.The percentage of your total wealth devoted to gold is a personal decision and depends on your particular situation. A conservative goal would be ten percent. In times of uncertainty the percentage should be much higher.

Do not worry about selling gold when that time comes. Gold is recognized and valued everywhere in the world. It is easier to sell gold than to buy gold! Of course gold can be used in barter or trade as it has for thousands of years.

To summarize, gold is an insurance policy against economic uncertainty. Gold can protect against both deflation and inflation. Everyone should store some of their wealth in gold if at all possible.

The GOLD and SILVER FUTURES PRICE was Driven Back to its Breakout Point Today

The GOLD and SILVER FUTURES PRICE was Driven Back to its Breakout Point Today

GOLD FUTURES PRICE Today : 951.70
Change: -5.30 or -0.6%

SILVER FUTURES PRICE Close Today : 14.875

Change: 9.1 cents or 0.6%

Dow FUTURES Industrial: 9,500.97
Change: -43.23 or -0.5%

US FUTURES Dollar Index: 78.22
Change: -0.91 or -1.1%

The GOLD FUTURES PRICE was driven back to its breakout point today. This could be a sign that Friday's breakout was only a fake-out, but more likely it is the standard "touchback to breakout" move that most markets make.

The SILVER FUTURES PRICE makes me lean to that second interpretation, too, since it moved up 9.1 cents today to close at $14.875, hammering on the door of $15.00 resistance. GOLD FUTURES closed today down $5.30 to end at $951.70 on Comex.

On a two month chart the US DOLLAR INDEX has formed a narrow even-sided triangle. More recently (since 17 August) that triangle's nose has dropped sharply, leaving something more like a flat bottomed triangle. The range has narrowed to 78.50 - 79.95 today, and tomorrow will be 78.40 to 78.00, etc. This will not long continue. A close outside that triangle, above or below, will send the $ index sharply in that direction. A close above 79.50 confirms an upside breakout, a close below 77.50 a downside breakdown. Bias leans toward downside breakout.

STOCKS today lost a little ground. Dow slipped 43.23 to close at 9,500.97. S&P500 at 1,021.02 lost 7.91.

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. GOLD FUTURES primary trend is up, targeting at least $3,130.00; SILVER FUTURES primary is up targeting 16:1 GOLD and SILVER FUTURES ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of GOLD FUTURES; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.

Gold Futures Price to Break Through $1,000 This Fall and Silver Futures to Top $21

Gold Futures Price to Break Through $1,000 This Fall and Silver Futures to Top $21

GOLD FUTURES PRICE Today : 957.00
Gold Price Close August 21: 953.20
Change: 3.80 or 0.4%

SILVER FUTURES PRICE Close Today : 14.784
Silver Price Close August 21: 14.16
Change: 62.40 cents or 4.4%

Dow Industrial: 9,544.20
Dow Industrial August 21: 9,506.96
Change: 37.240 or 0.4%

US Dollar Index: 78.366
US Dollar Index August 21: 78.044
Change: 0.322 or 0.4%

The really tasty part of today's GOLD FUTURES PRICE action was that close above $955. That was the next resistance gold futures needed to cross. Now one more step above $961, and gold futures price can break free and fly for the moon.

The SILVER FUTURES PRICE is only following, not leading. $15.00 stands as a big block in silver futures price road, but the most massive block is $16.00. Interesting that silver futures price today closed above its monthly average for the last 32 months, $14.784 against $13.98.

On Monday the serious players come back from vacation and re-enter the market. Days of traders running the market up and down in a tight range ought to be past us now. I expect to see silver futures and gold futures prices rallying strongly through September and October. Unless the dollar stages a surprise rally, expect gold futures to break through $1,000 this fall and silver futures to top $21.00.

The US dollar index's close on 21 August didn't answer the riddle after all, and we've been living with it another week. Yesterday the dollar performed so poorly that it seemed certain to crash through 77.50 and confirm a fall, but today it climbed -- late and barely -- above 78.33 support/resistance to close at 78.366, up 27.7 basis points today. For now I am concluding that the dollar has expressed its intention to fall, but we still need to see it close below 77.50 to confirm that.

Even looking at the week's results -- the end of the week never lies about what's happened -- we find a contradiction. The dollar index actually rose this week by 32.2 basis points, still clinging to 78.33 support. Yet gold, after a beating this week, rose US$11.50 today to close on Comex at US$957, up US$3.80 on the week. Silver futures rose a massive 62.4 cents this week,up 56.4 cents today to close on Comex at $14.784.

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold futures price primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold futures and silver futures ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold futures; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.

GOLD FUTURES AND SILVER FUTURES PRICE

As on Friday 28-08-2009

The Gold Futures Price Must Close Above $955 then $961 to Break Free of This Trading Range

Gold Futures Price Today : 945.50
Change: 1.20 or 0.1%

Silver Futures Price Close Today : 14.220
Change: -3.5 cents or -0.2%

Dow Futures Industrial: 9,580.63
Change: 37.11 or 0.4%

US Dollar Index: 78.11
Change: -0.53 or -0.7%

Right on cue from the dollar, the GOLD FUTURES PRICE in the aftermarket jumped from a lackluster close up $1.20 at US$945.50 to US$951, where it remains. The SILVER FUTURES PRICE trailed along with gold. At the Comex close it had dropped 3.5 cents to $14.22, but as I write it is trading at $14.37.

Snappy day for gold futures, bouncing back like that, but it must close above $955 then $961 to break free of this trading range. Today's market had the feel of control by traders with one eye on the US dollar pit and one eye on the gold futures pit. This is not big trading, it's dulldom.

August has almost ended, and next week the big traders will return. We'll see what happens then. I expect silver futures and gold futures will begin to rally in earnest.

If I had been long dollars (an exotic thought that!), today's action would have made me sell. The dollar index ranged all day from 78.45 - 78.75. Suddenly at 1400 Eastern Time it collapsed, hitting a low of 77.851. It has since recovered a bit and is not as 78.111, down 52.8 basis points. To slip more than 50 basis points on the day after it climbed over 78.33 resistance? Looks awfully weak. I'm still watching the dollar for a surprise rally, but right now that seems about as likely as my becoming an Olympic javelin thrower.

Stocks spent about half the day down as much as 80 points (Dow), but around midday crossed into positive territory, closing up 37.11 at 9,530.63. S&P500 closed at 1,030.98, up 2.86.

I can't remember when I last outlined my survival strategy for y'all, but I want to make sure y'all understand it. First, secure your source of ongoing revenue. Best of all is to have your own small business, but if you work for someone, do everything possible to make sure you will be the very last one laid off. Second, get out of debt. All debt. Third, buy silver futures and gold futures. I don't know any other investment in a bull market, certainly not stocks or dollar denominated assets. There simply is nothing else to invest in. Fourth, get out of the city if you can, on a little piece of land where you can at least grow your own food. Lastly, get busy working with your local community to revive your local economy. The silly centralization of the last century with increasing government and corporate power, is now collapsing. It's time to start building a new safer, saner, and more just economy. Start on the ground where you live.

To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold futures primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold futures and silver futures ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold futures; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.

Gold and Silver Futures Trading

As on Thursday on 27-08-2009

Market Commentary

Gold Futures opened at 944.75/945.75 in New York. Good buying carried the metal

higher, peaking at 949.25/950.25. However this rally could not be sustained as the

metal retreated, following a weaker dollar, slipping to an intraday low of

939.50/940.50. Better than expected housing sales helped equities climb and Gold Futures

made back lost ground. Resistance was established near 945.00 and it trade

erratically within a range, finally settling at 944.25/945.25.

Silver Futures opened at 1430.00/1433.00 and climbed on the back of stronger base metals

and oil, reaching a high of 1440.00/1443.00. However the metal later became

well offered and it lost ground as the session progressed. Persistent selling

dragged Silver Futures to an intraday low of 1416.00/1419.00 before gathering strength. It

traded lightly within a range for the remainder of the day, ticking marginally higher

to finally settle at 1426.00/1429.00

Technical Commentary

Gold Futures is closing right where it closed yesterday at current 945. In Japanese candle

sticks this is known as a Doji with both bulls and bears indecisive on the direction.

The shrinking ranges are often warnings of a pending break out but the question of

"when" is still a mystery. The lower tops in August of 971, 960 and 957 signal that

the market is a bit tired but we will need to break 930 to bring in the sellers.

Silver Futures is showing as a slight up day at 14.30. Silver is interesting because of the

nasty price action last week that saw the unit drop from 15.19 to 13.52. We believe

that while Silver Futures holds below 14.55 the risk is another drop lower. 14.55 represents

the 61.8% of last weeks drop. We expect sellers to come in below this weeks low

of 14.09. The Gold Futures and Silver futures ratio has moved lower for the 4th day in a row to current

66.05. We suspect that the risk is for a quick move higher back to last weeks high

of 67.54.

Indian gold rate and Free Futures trading tips.

As on WEDNESDAY 26-08-2009

24 Carat gold rate:- 1515

22 Carat Gold rate:- 1388

20 Carat gold rate:- 1262

18 Carat gold rate:- 1136

Mcx Tips of Crude Futures Trading:-

Buy September Crude Above @ 3522

Target 3551-3611-3705

Stop loss 3481

Sell September Crude Below @ 3481

Target 3469-3447-3377

Stop loss 3522

Mcx Tips for Silver Futures Tarding:-

Sell Silver Future Stocks @ 23370

Target 23000

Stop loss 23480

Silver Futures and Gold Futures Price are in a Primary Uptrend that Began in 2001 and will Run Until 2014 or Longer

Silver Futures and Gold Futures Price are in a Primary Uptrend that Began in 2001 and will Run Until 2014 or Longer

Gold Futures Price Today : 944.50
Change: 2.20 or 0.2%

Silver Futures trading price Close Today : 14.30
Change: 11.5 cents or -0.2%

Dow Futures trading Industrial: 9,565.36
Change: 56.08 or 0.6%

US Dollar Futures trading Index: 78.26
Change: 0.05 or 0.1%

Today has been a nutty day: everything rose, gold Futures trading price, silver Futures trading price, stocks, even the US dollar. Makes no economic sense, and can't be made to make sense. I've been thinking about the see-sawing between the dollar and stocks and metals. I have concluded we are seeing a flight to tangibles and out of dollars as the dollar is debased. Under that circumstance, even stocks are viewed as hard assets, i.e., at least they are "backed" by bricks and mortar and machines or a going business. Dollar supply expands, dollar falls in value, and people rush to tangibles (real value). Dollar rises, that implies $ supply is shrinking, which implies improving dollar value, so people drop tangibles for dollars. Yes, I know that stocks can only suffer under a severe inflation because interest rates rise and economic calculation becomes nearly impossible, but still they have some tangible value, so are viewed as better than dollars. In every hyperinflation, stocks undergo huge rises, but unfortunately that is only a nominal rise, and never keeps pace with real value, i.e., purchasing power.

This won't last. Wait till this fall when Comrade Obama floats another stimulus package and needs more trillions. He just re-nominated Bernanke for another term as Fed-head. Does anybody think that means Obama expects Bernanke to turn independent and oppose monetizing the debt? To refuse to monetize it? Question answers itself.

The scrofulous US dollar index rose 4.9 basis points to 78.256, still below critical 78.33 resistance. That it hasn't yet fallen off sharply suggests some dollar strength. The Silver Futures trading Price improved today, rose 11.5 cents to 14.31, above 14.25 resistance, but not by much. The Gold Futures trading Price rose US$2.20 to US$944.50, but both these rises are essentially noise, back and forth in a trading range bounded by 928 and 954. Only a close outside those levels will signal a big move. Otherwise metals are range-bound until the next economic crisis or financial panic emerges.

Unless the dollar rallies, metals will break out and rally to new high sometime early this fall, and trade in a range until then. If the dollar rallies, metals will swoon until that rally evaporates (as it inevitably will), then resume their rise as the dollar marches onward to its grave.Bottom line: US dollar and stocks remain locked in a primary (15-20 year) downtrend while silver Futures trading price and gold Futures trading price are in a primary uptrend that began in 2001 and will run until 2014 or longer.

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