Fort Kobbe Vaults Newsletter - Gold and Silver Charts

A look at Gold and Silver Charts (2022-11-24)

From a technical point of view and based on our system both gold and silver are (finally) poised to take off. This should easily take gold into the $1,900.00’s

$GOLD Gold - Continuous Contract (EOD) CME

Buying by central banks has been huge in this past quarter. I wonder if this is why the prices have not been allowed to run, reflecting the enormous money ‘printing’ spree of the past number of years.

As always it’s not what they say, (about the useless old relic), it’s what they are doing that counts and central banks have been buying gold like there is no tomorrow. I rather follow what they are doing than what they are saying. See chart below.

Central Bank Gold Demand hit 300 Metric Tons in Q3

Gold supply has increased by 1% this year whilst demand has increased by 28%, another economic anomaly where increased demand defies price increases. No manipulation there

One has to wonder how much longer can the lid be held on the prices of silver and gold with these pressures to increase prices?

Figures are provided by the World Gold Council – Gold demand trends.

My personal opinion is to have a physical holding of gold and silver well hidden at home for emergencies, a reasonable amount secured close to home and some in a private facility outside of your jurisdiction, available to you there or at another location should you desire it.  

For a ‘leveraged’ non leveraged play on gold or silver, one could consider purchasing gold or silver ETF’s or individual stocks of the gold and silver miners. Here one can expect much larger returns/or losses as price increases/decreases go straight to the bottom line of the miners. As always there are risks with stocks that one does not have with physical metals.

I consider physical metals to be insurance, with a profit potential and mining stocks to be risky investments, to be bought and sold in specific investment environments. If you are interested I will produce a list of risks in next week’s newsletter. Right now I see enormous profit potential by holding a percentage of both physical metals and stocks in the mining and mining royalty sectors.

TodayLast Week
Gold Price$1,756.00$1,760.00
Silver Price$21.54$20.91
Gold:Silver Ratio81.50:184.01:1
Gold Miners Bullish Percent Index44.8341.38
Dollar Index105.87106.99
Dow:Gold Ratio
(BahaUS30 33281.00 / Gold price ,1760.00)
Current USA Inflation Rate (Dept. of Statistics)7.7%8.2%

Gold’s low of the week was $1,725.00 and the high was $1,760.00, now trading at around $1,756.00. An extremely tight range, making a break out much more likely, but facing resistance close to $1789.00

The monthly chart for Gold has a few buy indications, but is not  buy yet. The possibility of $1,561.00 seems less likely. The weekly chart just triggered a buy and is hanging in there by a thread. The daily chart is a buy but looking ready to rise again.

$GOLD Gold - Continuous Contract (EOD) CME

The low for Silver this week was $20.55 and the high $21.69, trading around $21.54 at present.

Silver on the monthly chart looks positive  but not a buy yet. On the weekly chart we have a buy which is holding and is slightly overbought. On the daily chart, we have a buy signal, but silver which has corrected and looks more positive.

$SILVER Silver - Continuous Contract (EOD) CME

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.

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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