The Strait of Hormuz is again effectively closed. Iran mined it shut, the U.S. blockaded Iran, then the U.S. launched “Project Freedom” to escort neutral ships through, and then Trump, true to form, paused the whole thing mid-stream to negotiate a ceasefire deal.
Meanwhile, every barrel of oil that can’t flow through the Strait is sending energy prices higher. Gasoline, Jet fuel, Fertilizer, Shipping, everything dependent on mining, transportation, or petro chemicals, basically everything. Buying gold now may seem counterintuitive, but the fundamental reasons for ownership have not changed, and have actually become stronger. Ideally, physical gold, in a vault, segregated and allocated.
Let’s look at the numbers. Gold traded at $4,685 yesterday morning, up nearly $129 on the day and $4745.00 this morning, up another $60.00. Silver jumped 6% to $77.18 yesterday and to $81.36 this morning. Remember when $50 was the ceiling? The silver rally has now exceeded 137% year-over-year, and we’re probably not close to done. Silver is 150%+ up over the last twelve months, climbing to levels greater than we have ever seen.. The physical shortage is real.. It would be unwise to give up physical holdings before the price runs or to swap it for paper.
COMEX gold registered inventories sit at 15.8 million ounces. Silver at 79.6 million ounces registered. Keep your eyes on these numbers. Vaulted stocks are running low, and traders are standing for delivery.
China continues to accumulate. The Shanghai Gold Exchange benchmark hit all-time highs earlier this year, and while it pulled back from the January peaks, the structural demand is still there. Central banks are buying. Russia. China. India. The list of countries diversifying away from the dollar gets longer every month. And they buy Gold.
The decline in gold prices we have seen over the past number of weeks is mainly due to central banks using gold reserves for their exact purpose. This is how they stabilize their currencies by weaponry. And support their economies through turbulent events. On a smaller scale, this is exactly why we own physical gold; Our own independent store of value, tradeable in tough times.
The Fed’s next meeting is coming up. Jerome Powell’s term as Chair expires May 15. When the Fed chair position changes hands during a period of geopolitical crisis and energy shock, it likely means that it is worth listening to what has to be said. The market is already nervous about the Fed holding rates high because of oil-driven inflation, and rightly so.
Gold doesn’t yield interest. But neither does a Treasury bond when you factor in inflation
The Reuters poll has 2026 gold at $4,916. Technically, $4,800 is the breakout level. Break through that, and $5,000 becomes the next target. The support level is $4,600; hold that, and the bulls are still in control. I think the support will hold.
The big picture hasn’t changed. The world is changing. Energy supplies are disrupted. The dollar’s credibility continues to erode as the debt situation gets worse. Donald Trump wants a weaker dollar, it appears that he is getting it. Global Central banks are preparing for a post-dollar world. It makes sense to me to be stacking physical metals. Reach out to us if you want our help to buy/sell/store or transport.
PLATINUM
BUY: On the Daily chart (05 May 2026).
URANIUM
BUY (05 May 2026) URA.
BITCOIN AND GOLD
Gold outperforms Bitcoin (06 May 2026). 16.93 One ounce gold coins buys one bitcoin, this was over 41 ounces August 2025
ETHUSD: SELL: ( 26 April 2026)
BTCUSD: BUY: 03 May 2026. NASDAQ (Cyan).
GOLD AND SILVER STOCKS
21 April 2026 Gold outperforms gold stocks.
Silver outperforms silver stocks (15 April 2026). A dicey start.
GOLD AND SILVER
Silver to Gold Ratio
Gold outperforming Silver. (28 April 2026) Silver is coming out of the ground at about 8:1 and the Gold: Silver ratio is 59.04:1.
GOLD TO USD
Gold outperforms USD, (24 April 2026)
Copper (BUY: 07 May 2026)
GOLD AND SILVER CHARTS
| Today | Last Week | |
|---|---|---|
| Gold Price | $4,713.00 | $4,617.00 |
| Silver Price | $79.66 | $73.13 |
| Gold:Silver ratio | 59.20:1 | 63.16:1 |
| Gold Miners bullish percent index | 11.54 | 30.77 |
| Dollar Index | 97.99 | 98.17 |
| Dow: Gold Ratio (BahaUS 49,656.00 Gold price, 4,713.00 ) | 10.54 | 10.70 |
| Current USA inflation rate (Dept. of Statistics) | 3.3% | 2.4% |
Gold’s low of the week was $4,500.00, and the high was $4,764.00, now trading at around $4,705.00.
- Gold Monthly: is a SELL. (25 March 2026) From $1,800.00 to $4,513.00. Attempting a recovery.
- Gold Weekly: (SELL 19 March 2026) Candlestick signs of a turnaround, no conventional signals yet.
- Gold Daily: (BUY 07 May 2026).
The low for Silver this week was $72.13, and the high $82.13, trading around $79.28 at present.
- Silver Monthly: (SELL: 20260430. ( Buy $24.00 March 2024 to Sell May 2026 $73.13 = 204% Gain in 2 years 2 months). I like what I see on this chart as a potential recovery.
- Silver Weekly: (SELL: 09 February 2026). If I were holding physical, I would not be releasing it at these prices. As a trade, I would follow the signal. No new buy on the indicators yet.
- Silver Daily: BUY (07 May 2026).
Our partner has stock of both gold, silver and Goldbacks in our vaults available in Panama. Please contact us for more information.
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: watch here
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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