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A look at Gold and Silver Charts (06.29.2023)

Looking at comparisons between the fall of Rome and the current state of the US leads me to believe that the US is vulnerable to a similar fate. Some of the similarities follow:

  1. Political instability.
  2. Economic instability.
  3. Military overextension
  4. Social fragmentation.
  5. Overcontrol of the population
  6. Cultural and moral degradation
  7. Population welcomes the change

We understand that times are different and the world has modernized somewhat, but history does tend to rhyme if not repeat. 

This leads me to question how far down the road we are to destruction of the currency, the way of life, the cohesion of states, the rejection of forced integration, the need to be with culturally similar people, the requirement to be governed equally and fairly across classes, the requirement for a fair taxation system, etc.

If you are interested in more detailed information we will gladly address this in future letters. Please let us know.


Gold and Bitcoin

Gold had a good run against Bitcoin until mid June when Bitcoin took off compared to gold. Is this a lasting situation?

$BTCUSD Bitcoin to US dollar CRYPT 28 June 2023

Will gold go up or the powers that be bring down Bitcoin?

The chart below indicates that the advantage of one over the other continually changes.

$BTCUSD:$Gold Bitcoin to US dollar/Gold - Continuous 28 June 2023

Gold and Silver Stocks

The chart below of ASA compared to Gold gives us an idea as to the advantage of holding mining stocks or physical gold.

At present, physical gold is outperforming the stocks on average. A couple of indicators are pointing to a change to stocks outperforming gold, but by no means a preponderance of evidence yet.

ASA:$GOLD ASA Gold and Precious Metals- 28 June 2023

Gold and Silver

What is stopping the gold price from attaining new highs? Could it be higher interest rates, or the ‘fight against inflation’, or dollar strength, or perhaps more nefarious reasons?

Both gold and silver have taken a beating this week, despite the $6 billion unaccounted for that went to Ukraine, the trillions being created out of nothing, the introduction of unbelievably ill considered (deliberate?) laws, decimating middle class people particularly. I could go on and on.

What has happened with the gold volatility index $GVZ? It has fallen off a cliff. Why?

(See chart below).

The standard economic reasons are: 

High volatility is caused by: Inflation, interest rate instability, geopolitical tension, economic uncertainty, financial market stress, US dollar strength, uncertain central bank policies, large market liquidity.

In my opinion the above factors all mitigate AGAINST the low volatility we are currently experiencing. 

So I am happy to report that everything in the world is going swimmingly, NOT.

$GVZ Volatility Index - CBOE Gold INDX - 28 June 2023

Look at the Gold and Silver chart

TodayLast Week
Gold Price$1,895.00$1,921.00
Silver Price$22.56$22.51
Gold:Silver ratio83.94:185.40:1
Gold Miners bullish percent index39.2946.43
Dollar Index103.06102.25
Dow:Gold Ratio (BahaUS 33,863.00/Gold price, $1895.00) =17.8717.62
Current USA inflation rate (Dept. of Statistics)4.0%4.9%

Gold’s low of the week was $1,892.00 and the high was $1,934.00, now trading at around $1,895.00

  • The monthly chart for Gold is a hold, looking weaker.
  • The weekly chart is a sell. The spike high is supported by the other signals.
  • The daily chart remains in a sell condition and does not appear oversold yet.
$GOLD:$SILVER Gold Continuous Contract 29 June 2023

The low for Silver this week was $22.32 and the high $23.09, trading around $22.32 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 29 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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