Fort Kobbe Vaults newsletter

A look at the Gold and Silver Charts (05.10.2023)

Now that students have to resume payment, what will the effect be on the economy?

I believe it will be serious. ($1.6 TRILLION outstanding) A huge amount of ‘discretionary’ income will be diverted into those repayments with dire consequences for the overall economy. I believe the impact is being sorely underestimated.

Approximately $9 BILLION a month will be taken out of the regular economy.

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

With Klaus Schwab pushing for the great reset, how much of the current economic woes are coordinated and not coincidence?

I wonder more and more at the so-called random events that add up to the population being denuded of their finances and privacy. 

When I look at every aspect of life, I see the noose tightening. Cash being limited more and more, use of credit cards becoming more prevalent, costs of housing escalating dramatically, inflation in almost if not every aspect of life…

We are being more and more closely monitored, our phones, computers, TV’s, cars and more capture our every movement.

Our spending is tracked in every way and hocked out to advertisers, producers, etc. Every time we search for anything on our computers or discuss a topic, ‘relevant’ adverts appear on our devices.

The convenience factor is there, if only we could trust the corporations and politicians that wield the control strings. China’s social credit score system rears its ugly head in my mind.

Government has become more bloated, with more people required to monitor our every whim, they are soon to be replaced by further specifically trained AI systems. God help us.

As it stands youngsters are unable to afford even a starter home. Does this correspond with Clause’s wish for us to have nothing – ‘and be happy’? I don’t think so. A deliberate strategy?

Watch Klaus’ latest hit song here: Klaus Schwab song – Own nothing, be happy!

The Disrupters - 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

Bitcoin and Gold

Bitcoin is outperforming gold at this time. This is not unexpected, with the dollar trading around 106.50. I see a spike high and a gap which may indicate a pullback.

$BTCUSD:$GOLD Bitcoin to US dollar/Gold CRYPT 05 October 2023

Looking at the Bitcoin chart below, the increase in price is less dramatic, but is showing improvement. The reason being that in the chart above we have gold weakening whilst BTC is increasing.

The charts are not showing overbought yet, but funds moving into the coin are diminishing. We will watch the outcome with interest.

$BTCUSD Bitcoin to US dollar CRYPT 05 October 2023

Gold and Silver Stocks

Gold and silver stocks have had a torrid week as the dollar strengthened and the metals weakened. I don’t believe that is the only reason for the downward pressure with the large banks admitting to manipulation. 

The chart below describes the intensity by which the physical gold has outperformed the gold stocks. Although a couple of indicators are showing an overbought situation, many reflect a continuation of the current situation.

It is important to mention here that the entire market is at risk of an event upsetting all normal analysis.

$GOLD:$HUI Gold- Continuous Contract (EOD) Gold Bugs Index - NYSE - 05 October 2023

Gold and Silver

Physical gold and silver have continued to sell off this week and dropped through one support level to the next one down.

Should gold drop below $1,817.00 (which it has this morning) and it not be a false breakdown, the possibility of a further drop to the early $ 1,700.00 becomes real with a stop around $1,789.00.

On the same basis, silver has the potential to drop into the $19.00 area.

Gold to USD chart

The Gold to USD chart below describes the damage done to gold as the dollar has appreciated against the dollar index. This ratio chart is beginning to look oversold. It is standing at present at 17.18 and could possibly go as low as 17.00 support before turning around.

$GOLD:$USD Gold - Continuous Contract (EOD) CME 05 October 2023

Look at the Gold and Silver chart

TodayLast Week
Gold price$1,816.00$1,873.00
Silver price$21.00$22.47
Gold: Silver ratio86.77:183.18:1
Gold Miners bullish percent index17.8610.71
Dollar Index106.47106.00
Dollar IndexDow:Gold Ratio (BahaUS 33,076.00 Gold price, $1,8190.00)18.16 17.87
Current USA inflation rate (Dept. of Statistics)3.7%3.2%

Gold’s low of the week was $1,813.00 and the high was $1,849.00, now trading at around $1,819.00.

  • The monthly chart for Gold is a sell this morning.
  • The weekly chart is in a sell or out condition.
  • The daily chart remains out.
$GOLD Gold - Continuous Contract (EOD) CME 05 October 2023

The low for Silver this week was $20.68 and the high $22.19, trading around $21.14 at present.

  • Silver on the monthly chart indicates a sell.
  • The weekly chart has had us on a rollercoaster and is indicating sell or stay out.
  • The daily chart remains in sell or out mode and has broken below the long term daily trading range.
$SILVER Silver - Continuous Contract (EOD) CME 05 October 2023

Our partner has stock of both gold, silver and Goldbacks in our vaults available in Panama.

Please contact us for more information.

Goldbacks Fort Kobbe Vaults Panama

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.

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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