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A look at Gold and Silver Charts (08.31.2023)

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I am sitting in Dubai, contemplating business and life in various parts of the world. Reading and watching events unfolding further and further from our control. IMF, WEF, EU, World Bank, BIS, OECD, FED, …… the list is longer than our imagination.

Do we know anyone in these organizations? Did we vote for them or were they selected apparently on our behalf?  How have they managed to achieve such control over our lives? Down to minutiae such as how we speak and to whom. 

What stops this total take over of the planet? Casting us into being just batteries feeding their system. We work and produce and they take and distribute a tiny fraction back into society.

How is our labor and ingenuity stolen from us? Taxation!

  • Income Tax: Tax on an individual’s or business’s earnings or profits.
  • Corporate Tax: Tax imposed on the profits of corporations or businesses.
  • Property Tax: Tax on the value of real estate or other types of property.
  • Sales Tax: Tax added to the price of goods and services at the point of sale.
  • Value Added Tax (VAT): A consumption tax added to the value of goods and services at each stage of production or distribution.
  • Goods and Services Tax (GST): Similar to VAT, this is a tax on the consumption of goods and services.
  • Capital Gains Tax: Tax on the profit realized from the sale of an asset, such as stocks, real estate, or valuable items.
  • Inheritance Tax / Estate Tax: Tax on the value of an individual’s estate after their death, which is passed on to their heirs.
  • Gift Tax: Tax on the transfer of property or money to another person without receiving full value in return.
  • Wealth Tax: Tax on an individual’s net wealth, usually including assets like real estate, investments, and valuable possessions.
  • Excise Tax: Tax on specific goods, often those that are considered harmful, such as alcohol, tobacco, and gasoline.
  • Sin Tax: A subset of excise tax, specifically targeting items that are considered socially harmful, like alcohol and tobacco.
  • Payroll Tax: Tax imposed on the wages paid to employees, often used to fund social security and other benefits.
  • Social Security Tax: Tax used to fund social security programs, including retirement, disability, and survivor benefits.
  • Property Transfer Tax: Tax imposed on the transfer of property from one owner to another.
  • Tariffs: Taxes imposed on imports or exports of goods, usually to protect domestic industries or generate revenue.
  • Local Taxes: Taxes imposed by local governments, such as city or county governments, to fund local services.
  • State Taxes: Taxes imposed by state governments, which can include income tax, sales tax, and other specific taxes.
  • Luxury Tax: Tax on luxury goods or services to discourage excessive spending on non-essential items.
  • Environmental Taxes: Taxes aimed at reducing environmental harm, such as carbon taxes on carbon emissions.
  • Financial Transaction Tax: Tax on financial transactions, such as stock trades or currency exchanges.
  • Road Usage Tax: Tax imposed on the use of roads, often applied to gasoline or vehicle registration.
  • Occupational Tax: Tax on individuals or businesses for the privilege of conducting a certain profession or trade.

They have left out of this list the most insidious of all taxes – inflation plus a few I am certain I can’t think of.

When and where does it stop? The empire building within departments is rife, with ever growing taxes being consumed in government salaries and largesse.

Each department then has to justify its existence, with evermore laws and compliances by the fewer and fewer people and companies actually producing for the economy, further crippling the producers.

The answer is to minimize taxes paid as far as legally possible and/or move businesses into more favorable jurisdictions which are unfortunately also under attack by OECD and the like to minimize competition for taxes.

Bitcoin and Gold

Bitcoin appears to be back at a point where it can be purchased profitably against gold.

$BTCUSD:$Gold Bitcoin to US dollar/Gold - Continuous 31 August 2023

Gold and Silver Stocks

As anticipated last week the gold stocks are beginning to outperform the physical gold.

$GOLD:$HUI Gold- Continuous Contract (EOD) Gold Bugs Index - NYSE - 31 August 2023

Silver has outperformed the silver stocks for quite a while. Since the previous sell signal it has moved generally sideways. Now it appears that silver will outperform the stocks again.

$SILVER Silver - Continuous Contract (EOD) CME 31 August 2023

Gold and Silver

Long term gold on the monthly chart is still a hold as it has been for nine months. What is encouraging is that the Rate of Change indicator is still pointing up, although flattening.

Silver on the monthly chart is also a hold as it has been for five months. The Rate of Change indicator is also pointing up but flattening.

Gold to USD Chart

Our analysis of last week turned out correctly, gold prices moved up in tandem with a strengthening of the dollar. I believe that this can continue for a while, particularly taking the world financial situation into consideration.

$GOLD Gold - Continuous Contract (EOD) CME 31 August 2023

Look at the Gold and Silver chart

TodayLast Week
Gold Price$1,945.00$1,919.00
Silver Price$24.57$24.15
Gold:Silver ratio79.14:179.47:1
Gold Miners bullish percent index17.8617.86
Dollar Index103.51103.47
Dow:Gold Ratio (BahaUS 34,888.00 Gold price, $1,945.00) =17.9317.97
Dollar IndexDow:Gold Ratio (BahaUS 35,512.00/Gold price, $1,916.00)3.2%3.0%

Gold’s low of the week was $1,912.00 and the high was $1,949.00, now trading at around $1,950.00.

  • The monthly chart for Gold is a hold, looking neutral.
  • The weekly chart  gave a buy.
  • The daily chart is a buy or hold.
$GOLD Gold - Continuous Contract (EOD) CME 31 August 2023

The low for Silver this week was $24.04 and the high $25.01, trading around $24.55 at present.

  • Silver on the monthly chart remains a hold.
  • The weekly chart Gives us a buy.
  • The daily chart is a buy and hold.
$SILVER Silver - Continuous Contract (EOD) CME 31 August 2023

Our partner has stock of both gold, silver and Goldbacks in our vaults available in Panama.

Please contact us for more information.

Goldbacks Fort Kobbe Vaults 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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