FortKobbeVaultsNews_Gold

A look at the Gold and Silver Charts (01.02.2024)

We know quite convincingly that the meetings at Davos relate in part to the future of humanity.

In my opinion most of the attendees are disconnected from reality and from the majority of us and have little to no understanding of the living conditions of people in general.

Their agenda is about total power and control over the rest of us “useless eaters”. 

We are in the jaws of the snake. How do we escape their planned tyranny?

Humanity vs Davos_Ben Garrison cartoon
© With permission granted by Ben Garrison, reproduction and republication is expressly prohibited. Visit Ben Garrison’s website by clicking on this link

Using government GDP numbers to gauge an economy is an exercise in futility. Governments can and do print currency out of nothing, and then spend it in ways we have no control over. This spending then is added to the GDP total.

I want to see REAL GDP numbers with no government spending included so that we can gauge how the economy is really performing without government spending.

It is imperative to reduce the government employees to no more than 5% (thumb suck) of the population and very carefully monitor currency creation. 

This can be done painfully en masse, surgically, or by natural attrition, slowly eliminating and merging departments. Javier Melei in Argentina is setting an example.

A start needs to be made urgently.

GDP_Fudge_Hedgeye Cartoon
BITCOIN AND GOLD

Gold continues to outperform Bitcoin. It looked like a reversal was on the cards, but not quite.

$BTCUSD:$GOLD Bitcoin to US dollar/Gold CRYPT 01th February 2024

Most indicators on the Bitcoin chart below are indicating a buy, except that the crypto looks overbought at this level, so I would wait a day and see which way it wants to go.

$BTCUSD Bitcoin to US dollar CRYPT 01th February 2024

Ethereum is still in out mode, it has recovered a little over the past week, but no buy signal at present.

$ETHUSD Ethereum to US Dollar 01th February 2024
GOLD & SILVER STOCKS

Gold v HUI shows us that gold physical continues outperforming the stocks. Some indicators are overbought, but no transfer to stocks is indicated yet.

$GOLD:$HUI Gold- Continuous Contract (EOD) Gold Bugs Index - NYSE - 01th February 2024

Silver physical is in a buy silver in preference to silver stocks situation. However the rate of change has turned negative as well as the on balance volume.

$SILVER Silver - Continuous Contract (EOD) CME 01th February 2024

GOLD & SILVER

The silver-to-gold ratio is 89.23:1, still far too high in my opinion. Gold is still outperforming silver. A strict interpretation of the chart would give a sell signal, indicating some strength in silver. There are indications of a turnaround, but not quite yet.

$GOLD:$SILVER Gold Continuous Contract - (EOD) Silver - continuous 01th February 2024

GOLD TO USD

The past couple of days have seen a reversal as gold now is outperforming the US Dollar.

$GOLD:$USD Gold - Continuous Contract (EOD) CME 01th February 2024

A LOOK AT THE GOLD AND SILVER CHARTS
TodayLast Week
Gold price$2,034.00$2,015.00
Silver price$22.63$22.83
Gold:Silver ratio89.72:188.20:1
Gold Miners bullish percent index32.1435.71
Dollar Index103.59103.23
Dow: Gold Ratio (BahaUS 38217.00 Gold price, $2,035.00)18.7718.77
Current USA inflation rate (Dept. of Statistics4.1%3.4%

Gold’s low of the week was $2,017.00 and the high was $2,056.00, now trading at around $2.034.00.

  • The monthly chart for Gold  is a hold. I am still concerned with the spike high produced by the sharp increase in price in December, followed swiftly by the reversal. (See chart below).
  • The weekly chart remains a hold. The spike high still needs careful watching. None of the indicators give a sell indication yet.
  • The daily chart shows us a buy today on gold.
$GOLD Gold - Continuous Contract (EOD) CME 01th February 2024

The low for Silver this week was $22.59 and the high $23.32, trading around $22.66 at present.

  • Silver on the monthly chart indicates out.
  • The weekly chart has had us on a rollercoaster and changes almost every week at present. We are out. Even though the price is not moving up we see funds flowing into the metal. Under normal circumstances the price would be increasing. This is most perplexing
  • The daily chart remains out with indications of a turnaround. Not quite a buy signal yet, but close.
$SILVER Silver - Continuous Contract (EOD) CME 01th February 2024

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
play-icon

A video by Mike Adams on the Goldbacks. Well worth a look!

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.

Subscribe for the Latest News

Subscribe for the latest news and opinons about Gold, Silver, offshore vaulting and other industry information and opinion delivered right to your email inbox

SUBSCRIBE TO OUR NEWSLETTER

To receive industry news and updates​

“We provide a stable and expanding platform of physical and electronic security, technology, human structures and an ideal location that creates trust and resourceful solutions for our exacting wealth management clients.”

Fort Kobbe Panama

Copyright © 2020. All rights reserved Fort Kobbe Management, Corp.

Subscribe for the Latest News

Subscribe for the latest news and opinons about Gold, Silver, offshore vaulting and other industry information and opinion delivered right to your email inbox