Fort Kobbe Vaults newsletter

A look at Gold and Silver Charts (04.06.2023)

BRICS_vs_dollar-debt-banks.cartoon
© With permission granted by Ben Garrison, reproduction and republication is expressly prohibited. Visit Ben Garrison’s website by clicking on this link.
© Hedgeye Risk Management, LLC with permission granted by Hedgeye, reproduction and republication is expressly prohibited

What a privilege to be alive in this era of monumental change.

The global political situation is in flux, the currency situation is tenuous and the financial markets are in turmoil. They are not easy to navigate your way through, but it is certainly fascinating.

I think that the banking crisis is just in its infancy and no matter how many plasters are put on its injured carcass, they will not be able to hold its skeleton together.

As matters stand now it appears to be holding up and I am certain that furious negotiations are underway to try to underpin the entire system. Even Jamie Diamon of JPMorgan thinks ‘the banking crisis is not over’ and the mainstream media is prepared to report it which is surprising.

COVID worldwide response was and is the telltale sign of the total control of every country. (Non conforming countries’ leaders were removed, permanently). A huge worldwide financial shot in the arm for the pharmaceutical industry and now we have rumors of the second PANDEMIC. I don’t believe it this time either.

I wonder about the real reasons for war. Is this the ‘powers that be’, monetizing the militaries of many countries, and their special recipients? Is it their time at the trough now?

CBDC’s, will they get this off the ground? This experiment failed dismally in Nigeria. I hope (I know it’s not a strategy), that there are enough smart people in the world who will resist and use alternate means to trade, as CBDCs give the government far too much power and control over what should be the private business of every sovereign person.

This does not mean that they will not try their damndest to implement the system. I don’t know of a regime in history that did not want total control over every human on the planet, unfortunately it is now possible and becoming easier by the day.

Gold and Silver

This letter would not be complete without writing about the run on prices of the precious metals. 

Gold started the week at around $1,950.00 and ran up to $2,033.00 and a bit, a great run over the important resistance in the $2,000.00 band. I expect a pullback to test the support at around $2,000.00 and if it holds, believe that we are off to the races.

Silver, since the 13th of March has run from around $20.00 to a high of around $25.17. Silver has lagged in every way for a long time. The gold/silver ratio has suggested this catch up. A run to $27.00 a previous short term high is expected. Then resistance around $28.00, $30.00, $35.00, $43.00 and $50.00, then up to new highs, with pulls back along the way.

Gold and Silver Stocks

The prices of stocks of both Gold and Silver have reacted positively to the increased prices of the base metals. I think that the stocks right now are close to fully valued for this cycle and I will wait for a sell signal to take profits on current holdings and a new buy signal to invest a greater portion of the portfolio in the monetary metals stocks.

Look at the Gold & Silver charts

Last WeekToday
Gold Price today$2,001.00$1,968.00
Silver price today$24.58 $23.56
Gold: Silver ratio today81.39:183.25:1
Gold Miners Bullish Percent Index62.0755.17
Dollar Index101.54102.30
Dow: Gold Ratio
(BahaUS 33,340.00/Gold price $2,003.00
16.6416.70
Current USA inflation rate (Dept. of Statistics)6.0%6.4%

Gold’s low of the week was $1,951.00 and the high was $2,031.00.00, now trading at around $2,002.00

  • The monthly chart for Gold is a buy and looking stronger.
  • The weekly chart is holding and looking overbought.
  • The daily chart is a hold but looking overbought.
$GOLD Gold - Continuous Contract (EOD) CME 06 April 2023

The low for Silver this week was $23.56 and the high $25.16, trading around $24.61 at present.

Silver on the monthly chart gave a sell last month and has reversed to a buy. It looks like it has a good run now ahead of it.

  • The weekly chart is a buy, still in its trading range.
  • The daily chart is a hold and remains overbought at this level and may pull back. It is however, back inside the long term trading range.
$SILVER Silver - Continuous Contract (EOD) CME 06 April 2023

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

Goldbacks in Fort Kobbe

On the Stockcharts.com 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 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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