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A look at the Gold and Silver Charts (04.07.2024)

Kids-Fighting_cartoon

Having watched the debate, I feel that the above cartoon perfectly describes the current situation.

I read this past week that Biden and Trump are financed by Blackrock and Blackstone, each separately. This raises my levels of discomfort with the narrative that we are being given. Both appear to be bought by the big banks.

In addition, the so-called ‘alternate’ BRICS system (mBRIDGE?) of transfers is being supported by the BIS (Bank of International Settlements). 

If this BRICS ‘alternate’ system is also under the control of the BIS, how independent is it?

The swamp still controls the monetary system, so we are in the same situation.

It appears we are being transferred from the Dollar system to the alternate one and closer to a one world monetary system. The powers that be are aware that the days of the dollar are numbered and they are just setting up the alternate one.

We are not being freed of the system.

Even small countries are having their independence removed; South Africa had a monetary union with a few small countries around it where one could do an “internal” transfer between these countries but by September 2024, all will “have” to use Swift.

So what should we be doing?

Objecting strongly, asking for a fully asset or commodities-based system, where notes or credits can be freely transferred between buyers and sellers? Going back to notes fully backed by assets or commodities? Getting off the system by directly trading assets for assets or commodities?

Is this why the tokenization of every asset is being proposed? Will this protect us? If this is about control should we be looking for a real distributed ledger system outside of government to avoid it.

I am not even sure that Bitcoin lies outside of the government.

There are a few perfect ways to ‘fix’ the system, but then the powers that be lose control of us and the system, which is how the system should work and which they do not want.

We desperately need to think of our freedom and what it means and how we will achieve it. Nothing proposed so far has passed my smell test.

BITCOIN AND GOLD

BTC:GLD below shows gold outperforming Bitcoin. Some indicators are turning up, but no switch yet. Looking close to a reversal.

$BTCUSD:$GOLD Bitcoin to US dollar/Gld CRYPT 04 July 2024

ETHUSD we are out and it still looks weak. No immediate signs of a turnaround.

$ETHUSD Ethereum to US Dollar 04 July 2024

BTCUSD we are out. It appears to be making a reverse head and shoulders pattern which if it completes portends higher prices. Right now the indicators are turning positive, but no buy signal yet.

$BTCUSD Bitcoin to US dollar CRYPT 04 July 2024

GOLD AND SILVER STOCKS

Gold stocks are outperforming gold.

$GOLD:$HUI Gold- Continuous Contract (EOD) Gold Bugs Index - NYSE - 04 July 2024

Physical silver continues to outperform silver stocks whilst quite volatile.

$SILVER Silver - Continuous Contract (EOD) CME 04 July 2024

Gold and Silver

The indicator has switched to silver outperforming gold.

$GOLD:$SILVER Gold Continuous Contract - (EOD) Silver - continuous 04 July 2024

Gold to USD

As of yesterday gold is outperforming the USD. This is an early indication.

$GOLD:$USD Gold - Continuous Contract (EOD) CME 04 July 2024

A LOOK AT THE GOLD AND SILVER CHARTS

Last WeekToday
Gold Price$2,359.00$2,322.00
Silver Price$30.40$29.16
Gold:Silver ratio77.57:179.07:1
Gold Miners bullish percent index78.5778.57
Dollar Index105.21105.7
Dow:Gold Ratio (BahaUS 39,342.00 Gold price, $2,359.00)16.6816.84
Current USA inflation rate (Dept. of Statistics)3.4%3.3%

Gold’s low of the week was $2,319.00 and the high was $2,364.00, now trading at around $2,358.00.

  • The monthly chart for Gold  is a hold. We bought in at $1,800.00 in October ‘23 and have held it to date. It looks overbought but the indicators are mainly positive. 
  • The weekly chart remains out. I see diminishing funds flow in but with no impact on the price yet. There are encouraging signs but no definitive buy yet.
  • The daily chart this morning produced a buy signal on gold.

$GOLD Gold - Continuous Contract (EOD) CME04 July 2024

The low for Silver this week was $28.95 and the high $30.67, trading around $30.45 at present.

  • Silver on the monthly chart indicates a hold. The signals look positive for now. 
  • The silver weekly chart is a hold. We bought it for $24.00.
  • The silver daily chart indicates a buy this morning.

$SILVER Silver - Continuous Contract (EOD) CME 04 July 2024


Our partner has stock of both gold, silver and Goldbacks in our vaults available in Panama. Please contact us for more information.

Mike Adams talking about Goldbacks

A video by Mike Adams on the Goldbacks.

Well worth a look. Watch here

Goldbacks Fort Kobbe Vaults

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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