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A look at Gold and Silver Charts (04.27.2023)

Maybe the end of the dollar reign, but not down or out, in my opinion.

Would I minimize my holdings? Sure.

Would I hold physical monetary metals? Sure.

Would I write off the dollar? No way.

The King Dollar.Ben Garrison.cartoon
© With permission granted by Ben Garrison, reproduction and republication is expressly prohibited. Visit Ben Garrison’s website by clicking on this link.

Michael @MikeSay98

Something to ponder: If the US Government owned every single ounce of #gold that has ever been mined in human history, at today’s prices it wouldn’t even cover half of the current national debt.

What does that say about the current gold price?


Gold and Silver

Compared to previous gold runs, the current position on the chart below looks extremely encouraging. How long will they be able to hold the prices around and under $2,000.00? We just have to rely on our trading system to inform us.

Gold Bull Markets

The chart below reflects the amount of gold in private hands in various economies as a percentage of their M2 money supply.

It is instructive to note how small the private holdings are in Europe, USA, UK, Canada and Japan. (Western economies). Governments in the west have promoted their fiat currencies and diminished the value of holding monetary metals. This shows starkly in the chart.

M2 money supply is a measure of the money supply that includes all elements of M1 (which includes cash and checking deposits) as well as near money, such as savings deposits, money market securities, and other time deposits. Essentially, M2 includes all the assets that are highly liquid and can easily be converted to cash, but are not considered to be actual cash themselves. This measure is used by economists and policymakers to understand the overall money supply in an economy and to monitor the potential for inflation or other economic issues.

Est.Private Gold % of M2 Supply 2023

Gold & Silver Stocks

Gold and silver stocks have had a rough week to date with the gold price toying around and mostly under $2,000.00 and silver around the $25.00 mark. The precious metals stocks have drifted sideways to down generally and I have had buy signals only on special situation counters. At present I hold no precious metals stocks in my short term traded portfolio.

The chart below shows when stocks outperform physical metal and vice versa. Right now we are better off holding physical gold.

ASA-$GOLD ASA Gold and Precious Metals (EOD) NYSE:CME.20230427

Look at the Gold and Silver Charts

TodayLast Week
Gold Price today$1,986.00$2,007.00
Silver Price today$24.92$25.20
Gold: Silver ratio today79.67:179.25:1
Gold Miners Bullish Percent Index75.8675.86
Dollar Index101.21101.67
Dow: Gold Ratio
(BahaUS 33,728.00/Gold price $1,981.00)
20.0716.80
Current USA inflation rate (Dept. of Statistics)5.0%6.0%

Gold’s low of the week was $1,975.00 and the high was $2,008.00, now trading at around $1,980.00.

  • The monthly chart for Gold is a hold.
  • The weekly chart is a hold and returning to better levels.
  • The daily chart is out of the market after the sell.
$GOLD Gold - Continuous Contract (EOD) CME 27 April 2023

The low for Silver this week was $24.50 and the high $25.37, trading around $24.74 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 ahead of it. $30.35 was the previous high in 2021.
  • The weekly chart is a hold, still in its trading range, looking overbought.
  • The daily chart is a sell, so out of the market. It is back inside the long term trading range.
$SILVER Silver - Continuous Contract (EOD) CME 27 April 2023

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

Goldback-FortKobbeVaults-Panama

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

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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