Fort Kobbe Vaults newsletter

A look at the Gold and Silver Charts (08.24.2023)

Courageous mission - Glasbergen-cartoon

So we are back to wanting the masks reintroduced to the general population.  Are we going to comply this time? What are your expectations?

We have huge amounts of information now regarding mask wearing and its deleterious effects. How effective will the propaganda be this time and what lengths will countries go to against their populations to enforce it?

BRICS announced on the 22nd of August in South Africa that say they are not yet ready to introduce a gold backed currency.

What now? Does this mean that the dollar soares in value against those countries interested in joining BRICS? The dollar has moved to 103.51 as I write. Will this be a continuous appreciation? We know that as the dollar index increases so the gold price reduces. We watch with interest.

Gold and Silver Stocks

It appears that there is a reversal happening now where stocks will again outperform the physical metal. I believe that holding a core precious metals position then moving out and in the stocks is a good solution.

$GOLD:$HUI Gold- Continuous Contract (EOD) Gold Bugs Index - NYSE - 24 August 2023

Gold and Silver

Gold and silver appear to be moving up despite the strength of the dollar, which is huge in context of the way that the markets have been handled.

Gold to USD chart

You will notice the uptick in both the gold price and the USD Index. This is fairly unusual but certainly not unprecedented and may be the beginning of a run of both the USD and Gold appreciating together.

$GOLD Gold - Continuous Contract (EOD) CME 24 August 2023

Look at the Gold and Silver Charts

TodayLast Week
Gold Price$1,919.00$1,916.00
Silver Price$24.15$22.71
Gold:Silver ratio79.47:184.27:1
Gold Miners bullish percent index17.8628.57
Dollar Index103.51101.98
Dollar IndexDow:Gold Ratio (BahaUS 34,493.00/Gold price, $1,919.00)17.9718.28
Current USA inflation rate (Dept. of Statistics)3.2%3.0%

Gold’s low of the week was $1,884.00 and the high was $1,922.00, now trading at around $1,920.00.

  • The monthly chart for Gold is a hold, looking neutral.
  • The weekly chart remains an ‘out’ but looks positive for a buy in the near future.
  • The daily chart gave a buy yesterday.
$GOLD Gold - Continuous Contract (EOD) CME 24 August 2023

The low for Silver this week was $22.66 and the high $24.35, trading around $24.15 at present.

  • Silver on the monthly chart remains a hold, just.
  • The weekly chart remains ‘out’ but is looking positive.
  • The daily chart gave a buy yesterday at close.
$SILVER Silver - Continuous Contract (EOD) CME 24 August 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 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 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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