Fort Kobbe Vaults Newsletter - Gold and Silver Charts

A look at Gold and Silver Charts (2022-12-22)

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

When banks are in trouble it is a misnomer, because of bank legislation regarding bail-in’s YOU are in trouble as your deposits will be used to bail them out. Remember your deposits are LOANS to the bank. When was the last time  you looked at their financials?

As long as gold and silver prices are uneconomical for miners to explore and grades are uneconomical to mine, the metals will remain in the ground and there will be shortages in the market.

Gold Production: TTM in Millions of Ounces

We cannot forget that mine resources are a depleting asset, unless new discoveries are made or prices rise to make lower grade recovery viable gold reserves will fall as the viable material is recovered.

Another red flag is the declining reserves across the board.

You can read the full article ALERT: Collapse In Gold Production To Unleash Skyrocketing Gold & Silver Prices on King World News by clicking here.

In addition to this, we have Comex stocks of physical gold and silver falling. India imported 300 million ounces of silver this year equal to 35% of world production with no concomitant increase in prices, an extremely unlikely event economically.

Could manipulation be part of the answer?

Many billions of dollars in fines have been paid by the market for rigging and spoofing, no need for additional proof here. (See our previous articles).

Ted Butler has been exposing the manipulation for at least forty years, How much longer can it go on? More and more exposure of not only the manipulators but also the regulators, ensures that in time we should have free markets.

Who knows where prices will go in that event?

Taking delivery of physical gold and silver is the answer to denuding the Comex of the metals, except that they have protected themselves by allowing cash settlement instead of delivery.

A great read is Ted Butler’s article: Closer, But Still No Cigar

With the currency printing binge that has been happening, the current weakness of the dollar (the DXY trading around 104, down from 114), the operation still ongoing between Russia and Ukraine, the potential invasion of Taiwan by China, the Brazil elections and the protests there, the China / Russia / Syria oil agreement, the discord in the US, the Covid ‘pandemic’, physical shortages of the metals…. What do you think should be happening with gold prices in these circumstances?

TodayLast Week
Gold Price$1,817.00$1,776.00
Silver Price$23.78$23.08
Gold:Silver Ratio76.42:176.86:1
Gold Miners Bullish Percent Index48.2851.72
Dollar Index104.07104.29
Dow:Gold Ratio
(BahaUS30 33308.00/Gold Price ,1817.00)
18.9718.33
Current USA inflation rate (Dept. of Statistics)7.1%7.7%

Gold’s low of the week was $1,786.00 and the high was $1,825.00, now trading at around $1,819.00

The monthly chart for Gold is a buy. The weekly chart is a buy. The daily chart is a buy.

$GOLD Gold - Continuous Contract (EOD) CME 21 December 2022

The low for Silver this week was $22.83 and the high $24.82, trading around $23.80 at present.

Silver on the monthly chart is a buy. On the weekly chart we have a buy which is holding and is slightly overbought. On the daily chart, we have a buy signal.

$SILVER Silver - Continuous Contract (EOD) CME 21 December 2022

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.

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

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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