By Franklin Sanders
Gold Price Close Today : 1,086.70
Change: 2.40 or 0.2%
Silver Price Close Today : 17.395
Change: 22.4 or 1.3%
New all time highs for the gold price today: Comex gold closed $1,086.70, up $2.40; intraday high was $1,097.65, and traded much higher than Comex in the aftermarket, now $1,094.90. Buy it. It has broken out. There is a time to hold, a time to fold, and a time to go all in. This is one of those times. To go all in, I mean.
The silver price is the only fly in this sweet-smelling ointment. It is advancing well, faster than gold, but needs to clear $18.00 and run to confirm gold’s move. Buy it, before time and the market leave you behind.
Silver and gold prices are now launching the wildest and wooliest advance of the primary uptrend. Whooooo. It will suck the breath right out of your body, just to watch.
The US Dollar Index sank today like a lump in a churn, shedding 65 basis points to stop at 75.92. A confidence game ends when confidence vanishes. If the dollar closes below 74.90, it will not stop shy of 74, maybe lower.
All Things Considered: John’s Commentary
Now is the time you need to decide if you are going to come off the sidelines. If you choose not to buy now, you will end up buying at higher prices. The train is leaving the station and will soon disappear out of sight. We will not see sub-$1000 gold again.
Here are the next price points to watch for in a 2-5 year time-frame:
Gold: $1100, $1250, $1640, $2350, $4000, $5000+
Silver: $21, $25, $49, $100, $137.50, $300+
Let me speak from personal experience. I first bought gold at $400 while it was going down. I then bought at the bottom at $256. When gold went back over $400 again, I was reticent to buy, but I did. At $575, others urged caution. At $750 and $850, people were calling the top. I knew the fundamentals supported much higher prices, as they do again at $1000+. I know people who have been on the sidelines since gold was $400, thinking they would wait for it to come back down – their chance is gone.
I bought silver at $4.16 and continued to buy as it rose. There are some who are still waiting for silver to pullback to $8.00 to buy. They won’t have the chance.
Rule #1 – Invest with the primary trend
Rule #2 – Actually invest!
