Fort Kobbe Vaults newsletter

A look at Gold and Silver Charts (05.11.2023)

It is difficult for me to believe that the super educated people of the FED can make decisions not conducive to their memorandum.

“Promote maximum employment, stable prices and moderate long term interest rates”.

I would be embarrassed to show my face in public if I had failed in every category! 

The only other conclusion I can come to is that the decisions are deliberately designed to crash the economy so that they can introduce their CBDC (Central Bank Digital Currency) system, although I have my doubts as to the success of that system as well.

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Gold and Silver Stocks

I am very keen to buy into the gold and silver stocks, but do not get the confirmatory signals I would like to see. Each time I see the price run, I look at the charts to see if we have a clear buy signal. Not so far, although a few stocks are performing despite the uncertainty.

Yesterday when the CPI numbers came out it looked like we would have a run in both gold and silver. It lasted for fifteen minutes and then died or was suppressed. This morning, prices ran up into the opening and then were brought down within a few minutes of opening.

I like the pattern on the ASA:GOLD chart below. Once it breaks above the resistance line from its cup and handle formation, it indicates an excellent run will begin for the stocks.

20230511 Gold ASA

Gold and Silver

All of the basics are in alignment for both gold and silver to run to new highs. Consolidation around the $2,000.00 area is making a great base for prices to rise from here. 

A question we are receiving more often, with good reason, is, “what is the possibility of confiscation of our gold and silver held by you?.

This is a question we ask ourselves continually as well as many others.

In terms of Silver, there is no precedent for confiscation that I am aware of other than by the USA, ORDER 6814 1934 by President Franklin D. Roosevelt to ‘protect the value of the dollar’.

Regarding gold, similarly, by the USA Gold Reserve Act of 1934.

Our analysis is that it is unlikely that there will be such action taken independently by the Panamanian government as the vast majority of our clients are international clients from outside of the country and it will cause an international incident. 

In addition the bulkiness and mass of silver and extremely low value at this time makes silver far less likely a candidate for confiscation.

Analysts I have been following are saying that whereas a few years ago they would have said there is no chance of confiscation, they now say there is a ‘non zero chance’.

Should the WEF put out a worldwide order for confiscation of gold and or silver, the position would be much less predictable from a Panamanian perspective.

I do believe that we will have forewarning of some description and all clients would be notified by us to protect their assets. 

Legal procedures would have to be strictly followed by the Panamanian government, prior to us allowing any access to our facility.

In the USA the Fifth Amendment of the constitution, prohibits the government from taking private property without just compensation.

Confiscation could lead to massive legal ramifications for the government. In my opinion, no access to any government or government agency would be allowed whilst the action is being contested.

Look at the Gold and Silver Charts

TodayLast Week
Gold Price today$2,014.00$2,038.00
Silver Price today$24.27$25.52
Gold: Silver ratio today82.84:179.77:1
Gold Miners bullish percent index:75.0075.86
Dollar Index today101.27101.50
Dow:Gold Ratio (BahaUS 33141.71/Gold price, $2,014.00)16.4516.54
Current USA inflation rate (Dept. of Statistics)4.9%5.0%

Gold’s low of the week was $2,012.00 and the high was $2,048.00, now trading at around $2,016.00 

  • The monthly chart for Gold is a hold.
  • The weekly chart is a hold.
  • The daily chart gave a spike high on Friday and has not exceeded it subsequently, which makes me hesitant to invest short term here.
$GOLD Gold - Continuous Contract (EOD) CME 10 May 2023

The low for Silver this week was $24.23 and the high $25.94, trading around $24.30 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. 
  • 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 and looking positive but no buy signal yet.
$SILVER Silver - Continuous Contract (EOD) CME 10 May 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.

If you are interested in an overview of Fort Kobbe, you may want to have a look at this video: Mike Brown, Director, Fort Kobbe, International Vaults, A DotCom Magazine Exclusive Interview

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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