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A look at Gold and Silver Charts (06.22.2023)

The more I read about CBDC’s, derivatives, bank investments, bank risks, financial products, debt ceilings, and debt to GDP ratios,  the more I concentrate on physical gold and silver. 

To add spice to the mix, some gold, silver, platinum, lithium and uranium stocks. Each has its risks and rewards and not all are for everyone. When currencies lose their value the monetary metals tend to retain theirs.

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

Gold and Bitcoin

Yesterday our system flagged a number of crypto’s as a buy. On the 16th of June we got a heads up that the direction was changing, and this seems to be confirmed now. It is early days to be certain, but this is usually a good sign.

Both Bitcoin and Ethereum, as well as many others, look positive. Is this a run before another takedown? I have no clue. We just follow the system.

$BTCUSD:$Gold Bitcoin to US dollar/Gold - Continuous 21 June 2023

$BTCUSD Bitcoin to US dollar CRYPT 21 June 2023

$ETHUSD Ethereum to US Dollar 22 June 2023

Gold and Silver Stocks

Comparing ASA with gold tells us if physical gold is outperforming stocks or vice versa.

As the chart below clearly shows, it has been advantageous to hold physical gold compared to stocks since the end of April.

It does appear, however, that the situation is close to reversing.

ASA:$GOLD ASA Gold and Precious Metals- 21 June 2023

Gold and Silver

The Silver:Gold ratio on the chart below is 85.27:1 and has varied in the  period  below between 74:1 and 98:1. The miners are reporting ratios of between 7:1 and 8:1 in actual deposits.

This, in an unmanipulated market, would suggest a price approximating ten times the current spot price for silver. I think this event may be closer than we would expect.

$GOLD:$SILVER Gold - Continuous Contract (EOD) Silver 21 June 2023

Look at the Gold and Silver Charts

TodayLast Week
Gold Price$1,921.00$1,931.00
Silver Price$22.51$23.35
Gold: Silver Ratio85.40:183.62:1
Gold Miners bullish percent index46.4350.00
Dollar Index102.25102.80
Dow: Gold Ratio
(BahaUS 33862.00/Gold price, $1,921.00) =
17.6217.57
Current USA inflation rate (Dept. of Statistics)4.0%4.9%

Gold’s low of the week was $1,918.00 and the high was $1,959.00, now trading at around $1,921.00.

  • The monthly chart for Gold is a hold.
  • The weekly chart is a sell. The spike high is supported by the other signals.
  • The daily chart remains in a sell condition.
$GOLD Gold - Continuous Contract (EOD) CME 21 June 2023

The low for Silver this week was $22.38 and the high $24.19, trading around $22.46 at present.

  • Silver on the monthly chart remains a hold but just.. 
  • The weekly chart is a sell.
  • The daily chart is a sell. Price is inside the long term trading range. There is major support at around $22.00 then $20.00.
$SILVER Silver - Continuous Contract (EOD) CME 21 June 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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