Which is the real price of gold and silver? The price quoted on your screen, where you cannot get the commodity or the price where you can take physical possession of your metal.
The Western Comex price of around $80.00 for silver, while silver Eagles are quoted around $110.00 if you can get them, or the Shanghai price of around $150.00 where you can walk in and take possession of your metal.
The Western prices are for paper contracts where you may get the metal. If you stand for delivery, you may get a cash settlement. How do you manufacture your product with a contract or cash? Neither are feasible. What would you pay to get the real metal if your factory stands without it? You would pay whatever it takes to keep your factory running.
In my opinion the fake paper prices in the west are driving whatever real silver is available to the east, which is a one way trade because of export restrictions from east to west. Nature abhors a vacuum and the price differential between east and west is a huge vacuum. The differential will close soon and I believe that the price will move towards the prices paid for physical ownership.
Silver stocks are running low at Comex. If 10% of contract holders stand for end of March delivery, Comex will be forced to declare force majeure as they do not hold sufficient available silver stock to make the deliveries. Then people will know that the market is rigged and has no credibility. Many understand that that is the case right now. If it was not a rigged market prices would rise or fall to meet market requirements.
What is the real price for silver then? I have no clue, but it is not $70.00 or $80.00, for now it is closer to $150 and next month probably $200.00 and then ???
It is possible that the US will ban exports of strategic metals. I wonder if that will be shutting the stable door after the horses have bolted. The east has been accumulating gold and silver and other strategic metals, as well as buying dore and mines worldwide to secure supply. When the crunch comes, as things look to me, the west will be in trouble and the strategic metals will have prices beyond belief.
We have not even discussed the effect of the dollar devaluation which directly affects the metals prices. As the dollar is being replaced, the effect on the US economy will be significant, not only in terms of metals prices but also in an increased cost of living. In my opinion the sum of about 25%.
From February 9th the new CME futures contracts will only be settled in cash. There will be no more obligation to settle in silver. If ever I have seen total capitulation of the obligation to trade real metal, this is it. This totally divorces the trading of fiat metal from the trading of physical metal. In my opinion physical metals sales will now have to rely on the physical Shanghai price. I see no other way for dealers to honestly trade the metals. The Comex prices are already a fiction, from the 9th they will be more so. Enjoy the paper trade market loosely based on silver physical prices or manipulated at will.
In addition, margin requirements on futures contracts have gone from 9% to 11% now to 15%. This crashes many market participants who cannot meet the margin requirements into forced sellers, further artificially suppressing prices
PLATINUM
SELL: On the Daily chart (26 January 2026)
URANIUM
SELL (29 January 2026) URA.
BITCOIN AND GOLD
Gold outperforms Bitcoin (18 December 2025). 15.30 one ounce gold coins buy one bitcoin; this was over 41 ounces almost a year ago. It appears that Bitcoin is reversing. I could call a reversal here except that the chart is already overbought. It is worth waiting a while.
ETHUSD: SELL: (18 January 2026) Looking oversold, but no buy indications.
BTCUSD: SELL: 19 January 2026. NASDAQ (Cyan). Note the divergence from the NASDAQ. Looking oversold, but no buy indications yet.
GOLD AND SILVER STOCKS
28 January 2026 Gold is about to outperform gold stocks. Now almost neutral, no change in the signal yet.
Silver stocks outperform silver (30 December 2025). Just look at the volatility! Silver stocks look like a great buy.
GOLD AND SILVER
Silver to Gold Ratio
Gold outperforming Silver. (30 January 2026) Silver is coming out of the ground at about 8:1 and the Gold: Silver ratio is 58.13:1. The price crash has reversed the falling ratio of silver to gold. I feel confident that the downward trajectory will resume. I still have a bias to silver rather than gold. Time will tell.
GOLD TO USD
USD outperforms Gold (30 January 2026). Although we have a change and the signals confirm it, there are signs that this will not be long-lived.
A LOOK AT THE GOLD AND SILVER CHARTS
| Today | Last Week | |
|---|---|---|
| Gold Price | $4,826.00 | $5,520.00 |
| Silver Price | $75.34 | $118.60 |
| Gold:Silver ratio | 63.67:1 | 46.48 |
| Gold Miners bullish percent index | 100.0 | 100.0 |
| Dollar Index | 97.76 | 96.27 |
| Dow: Gold Ratio (BahaUS 49,347.00 Gold price, 4,826.00) | 10.22 | 8.88 |
| Current USA inflation rate (Dept. of Statistics) | 2.7% | 2.7%? |
Gold’s low of the week was $4,399.00, and the high was $5,091.00, now trading at around $4,826.00.
- Gold Monthly: is a HOLD. We bought at $1,800.00 in October 2023. Looking overbought, but it can hold that situation for a while. No sell signal yet.
- Gold Weekly: (HOLD 25 August 2025) Overbought. No sell signals yet.
- Gold Daily: (HOLD: 12 November 2025). The indicators are holding. Gold almost gave a sell signal, but seems to be holding.
The low for Silver this week was $71.19, and the high $92.20 trading around $77.29 at present.
- Silver Monthly: Hold. (Buy: $24.00 March 2024). Looking overbought. No sell signal yet.
- Silver Weekly: (HOLD: 25 August 2025). Overbought but still positive indicators, except for one.
- Silver Daily: SELL (30 January 2026).
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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
An interview with Josh, owner of Scottsdale Mint:
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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.
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