Monday, September 23

16-20/09/2013 Minggu 'Tough' Untuk Emas Perak

Harga Emas Ditutup : 1325.60
Perubahan : -39.50 @ -2.89%

Harga Silver Ditutup : 21.80
Perubahan : -1.29 @ 5.59

For a week that wore so hard on the nerves and posted such big jumps Wednesday, it showed little difference in the end. For the week silver and GOLD PRICES, which starved my ego today and fed my humility, in fact ended higher by 1% and 1.8%. Yes, higher. Stocks rose, but the Dow rose only one-half percent and the S&P500 1.3%. The white metals, platinum and palladium, gainsaid each other, platinum lower and palladium higher. Biggest loser was the dollar index, where a 1.2% loss is a big move, and punctured long established support.

Silver and GOLD PRICES acted just like the stock market today, giving up most of the gains from Wednesday. Silver gained 8% yesterday, and gave up 5.9% or 136.6 cents today to close Comex at 2187.6 cents. Gold gained 4.7% yesterday, and lost 2.7% today, or $36.90 closing at $1,332.50.

I am tempted to say gold's failure to hold above $1,350 support dooms it to a large fall. That was terrible behavior. Then I look at the chart. Last low hit $1,291.50. Support lies at $1,325 and just above $1,300. I stared longer. Last three days might mark the beginning of a long down leg that runs to $1,240 or even lower. But then again, it might be only the bottom of the first leg up in a new upleg. The former is more likely, but the latter is possible. MACD and RSI are neutral. The gold price also stands below its 50 DMA ($1,342.56), another negative.

The SILVER PRICE, on the other hand, at 2187.6c stands above its 2170c 50 DMA. If I were silver and filling out an upside down head and shoulders, I'd do exactly what silver has done. But if silver closes below the last low at 2126, that formation will be ruled out.

In the end, both silver and gold prices stand at the same crossroads. If the gold price falls through $1,291.50 and the silver price through 2125c, they will drop toward $1,240 and 1900c. If they break not those marks, they will turn and climb.

Come to think of it, the present debt ceiling war between Bernard O'Bama and the Lilliputian congress might provide enough hot air to draft gold up.

First two days of next week are critical. If silver and gold prices hold, they'll rally. If not, they could decline into an October low.

How'd y'all like that taste of Federal Reserve stability this week? Right, the Fed stabilizes like a tornado. Wednesday the markets that supposedly thrive on a weak dollar soared on the FOMC's announcement they would not be tapering any time soon, say, before the 21st century ends. Think of it this way: yesterday Ben Bernanke sent a personal note to you, me, and everybody in the US reading, "We are going to keep on creating money -- lots of money." 

Wherefore, burn this bottom line into your brain: gold and silver will rise. After this indecision ends, probably by the time October expires, gold and silver will begin a rally that will reach far higher, and move faster, than anything you've seen so far. You have Ben Bernanke's word on it. 

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

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