A look at Gold and Silver Charts (06.15.2023)

Are rate hikes the answer to the economic woes created by the same people we now expect to save us?

So we have a pause. Will this save us? The economy in my opinion has been deliberately imploded in order to make implementation of the CBDC (Central Bank Digital Currency) system easier. Yet inflation continues on its merry way, even though at a slower rate. Stagflation, which is awful to navigate, rears its ugly head.

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

Gold and Bitcoin

At present gold is outperforming Bitcoin, (first chart below). The second chart shows the effect of government action on the crypto market and Binance coin in particular.

$BTCUSD: $ Gold Bitcoin to US dollar/Gold - Continuous 15 June 2023

$BNBUSD BinanceCoin to US Dollar Crypt

Gold and Silver Stocks

In previous newsletters we have chatted about the incredible underperformance of the stocks relative to the base precious metals. This King World News chart by Graddhy explains the situation as it stands now. His expectation is that the silver stocks will bounce shortly and begin the catch up phase. My opinion is that this will be a reversion to the mean, if not an overshoot.

SILJ:SLV Pure Funds ISE Junior Silver - 9 June 2023

Gold and Silver

Dear manipulators of the gold and silver prices, I would like to thank you personally for giving us the opportunity to purchase real money at these amazing prices, using your depreciating fiat currency to do so.

From King World News: Central Banks bought 1,100 TONS of gold last year.

Do what they do, not what they say, seems to be the best recipe for the present. Why would they be dumping currency in favor of real money if they were not aware and fearful of their own currencies. If they are fearful, we should be terrified.

Various currencies in Gold

Below is a chart of ‘THE REAL NEWS’ that we have to search for. Why is this not on the front page of every financial newspaper? Continual accumulation of gold by countries fearful of or sanctioned from the dollar system.

Gold buyers in Tonnes 2020-2022

Here’s a different way of looking at the gold price and its current value. What changes? The value of the currency or the value of gold? An ounce of gold was and still is an ounce of gold. How should we value the dollar in terms of gold?

Ounces of Gold bought for $ 1,000

InvestmentYearOuncesGold Price% Change
$ 1,000191348$ 21-99%
$ 1,000197128$ 35-98%
$ 1,00019994$ 250-88%
$ 1,00020023$ 300-73%
$ 1,00020230.5$2,000

I cannot resist posting this chart below. Is it going to be $1750.00 or a break above $2000.00 and a run from there. After three failed attempts at breaking $2000.00 and holding above it, there is an excellent probability of a sustained break over $2000.00 in the relatively near future.

GOLD -US $ King-World-News-Ala-III

Look at the Gold and Silver charts

TodayLast Week
Gold Price$1,931.00$1,959.00
Silver Price$23.35$23.80
Gold: Silver ratio83.62:183.23:1
Gold Miners bullish percent index:50.0053.57
Dollar Index102.80103.56
Dow: Gold Ratio
(BahaUS 33935.00/Gold price, $1,931.00) =
Current USA inflation rate (Dept. of Statistics)4.0%4.9%

Gold’s low of the week was $1,925.00 and the high was $1,971.00, now trading at around $1,934.00.

  • The monthly chart for Gold is a hold and still looks positive.
  • The weekly chart is a hold. The spike high is not supported by the other signals, so no sell yet. I get mixed signals now at support.
  • The daily chart gave a buy indication last week and is holding on to it by the skin of its teeth. Today looks like a low as the price runs sideways. The indicators are however pointing down.
$GOLD Gold - Continuous Contract (EOD) CME 15 June 2023

The low for Silver this week was $23.19 and the high $24.41, trading around $23.42 at present.

  • Silver on the monthly chart remains a buy. 
  • The weekly chart is a sell, within a whisker of turning up again. One more indicator to turn positive and we will get a buy. 
  • The daily chart is a sell, so out of the market. Price is inside the long term trading range. The indicators are looking better, but no buy signal yet.
$SILVER Silver - Continuous Contract (EOD) CME 15 June 2023

Our partner has stock of both gold, silver and Goldbacks 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.

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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