Fort Kobbe Vaults Newsletter

A look at Gold and Silver Charts (03.02.2023)

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© Hedgeye Risk Management, LLC with permission granted by Hedgeye, reproduction and republication is expressly prohibited.

Every day we appear to be moving closer and closer to Armageddon. The stupidity and inconceivable decisions and statements being made cannot be reconciled. 

The ratification by Hungary, of Finland and Sweden, to join NATO in the tense Russia Ukraine situation makes no sense other than to rub salt in the open wounds between Russia and Ukraine. 

Why aggravate the situation rather than put a peace proposal on the table? 

My contention is that if peace were really desired we would have it. The only winners in this type of conflict are the bankers, politicians and military industrial complex. As always, the people are the cannon fodder, either in lives or funds lost.

In addition, hurried moves towards the worldwide CBDC (Central Bank Digital Currency) system are being implemented.  

China is the most advanced in this endeavor, having started the program in 2014. With several cities  already using their CBDC and the project is expanding.

Sweden has been testing theirs since 2019, Bahamas has the SAND Dollar, launched in 2020 and is the first to be fully used by the public. The US has been working on theirs since 2014 and are in the test phase.

The EU has been looking at CBDC since 2019 and is still investigating and the list goes on. This is a serious program and it is important to acknowledge its ramifications.

If one wants to maintain a modicum of privacy, assets outside of the system which are tradeable would be a good way to mitigate the invasion of privacy. 

I believe that a food reserve, tradeable items such as alcohol, ammunition, gold, silver, Goldbacks etc will be useful and depending on one’s circumstances, access to, or home grown vegetables and livestock, will be a huge advantage.

Gold and silver are in transition, and I am seeing signs of life in both. I realize that gold is money and silver is a commodity or money, and that they both behave very differently.

We currently see our clients leaning towards silver for the potential reversion to the mean, as it trades now around 88 ounces of silver to one of gold.

The miners are getting silver out of the ground at between seven and eight ounces per ounce of gold.

How long before that shows up in real traded prices?

Gold retains its concentration of wealth, with one tube of twenty gold coins holding around $40,000.00 which is easily carried in your pocket.

Look at the Gold & Silver charts

TodayLast week
Gold Price$1,833.00$1,824.00
Silver Price$20.77$21.55
Gold: Silver Ratio88.19:184.73:1
Gold Miners Bullish Percent Index34.4837.93
Dollar Index105.11104.52
Dow: Gold Ratio
(BahaUS 32756.50/Gold price,1833.00)
Current USA inflation rate (Dept. of Statistics)6.4%6.5%

Gold’s low of the week was $1,806.00 and the high was $1,845.00, now trading at around $1,833.00

The monthly chart for Gold is neutral looking weak but improving.

The weekly chart is neutral with a sell signal which appears to be reversing.

The daily chart is neutral, looking like a turn is possible but not yet confirmed.

$GOLD Gold - Continuous Contract (EOD) CME 02 March 2023

The low for Silver this week was $20.45 and the high $21.18, trading around $20.77 at present.

Silver on the monthly chart has given a sell signal. We will have to wait for a proper reversal.

The weekly chart gave us a sell and looks like it has stalled there for now.

The daily chart gave a sell and has breached the bottom of the long term trading range at $21.50 and appears to be reversing. We have a few positive indicators, but not enough for a buy.

$SILVER Silver - Continuous Contract (EOD) CME 02 March  2023

Our partner has stock of both gold and silver in our vaults available in Panama, please contact us for more information.

On the charts, the blue vertical lines are our proprietary system buy signals and the red vertical lines are system sell signals – for information purposes only

Please contact us to arrange the purchase and storage of your gold and silver requirements in a safe, insured, location outside of your jurisdiction.

This is my interpretation of the market and is not to be taken as financial advice. Before making any buy or sell decisions I recommend that you consult with your professional financial advisor

Larry Simon
Larry Simon

Larry Simon was educated at the University of Witwatersrand, Johannesburg, South Africa and is an experienced businessman specialised in management, investment and finance.

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