This is from Rafi Faber (endgameinvestor@substack.com) whose work I really enjoy. He compares the 1973 gold chart with the current chart and speculates that a 100% rally from here is possible. Fractal analysis has a fairly good record of indicating future possibilities.
Logically, one would expect gold and silver to soar in war conditions. I am thinking of Russia/Ukraine and the USA, Israel/ Iran conflicts. Understandably, though, other entities such as the Arab States and Turkey that have been drawn into the conflict have had to sell vast amounts of gold in order to secure oil supplies, but more than that, to stabilize their currencies.
In addition, because of erratic market conditions caused by an on-again, off-again war, large funds have had to cover margin calls. The easiest, most liquid asset to sell to cover those calls is gold.
As you have seen from previous letters, my philosophy is to hold physical irrespective of price, accumulate when prices are low, and trade the paper.
When governments have to account for the war spending and borrowing and find that printing is the solution they prefer, both gold and silver will hold their purchasing power.
My weekly gold chart shows a potential gold price downside of $3,636.00. The price seems to be consolidating around $4,100.00, close to the 50% Fib retracement. I don’t feel that it will reach the lower 61.8% Fib retracement of $3,636.00.
PLATINUM
BUY: On the Daily chart (06 July 2026).
URANIUM
SELL (12 May 2026) URA. Not a buy yet.
BITCOIN AND GOLD
Bitcoin outperforms Gold (10 May 2026). 15.26 One ounce gold coins buys one bitcoin, this was over 41 ounces August 2025.
ETHUSD: BUY ( 11 June 2026): Almost a sell. Struggling to hold the buy.
BTCUSD: BUY: 2 July 2026. NASDAQ (Cyan).
GOLD AND SILVER STOCKS
24 June 2026 Gold outperforms gold stocks.
Silver outperforms silver stocks (06 July 2026).
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 68.65:1.
GOLD TO USD
Gold outperforms USD, (04 July 2026).
Copper (SELL: 23 JUNE 2026) A very difficult market to trade right now. I worry that the falling copper price is giving us an early indication of a worldwide economic slow down. Many of the effects of the on again off again closure of the Straits of Hormuz are only now beginning to be felt.
GOLD AND SILVER CHARTS
| Today | Last week | |
|---|---|---|
| Gold Price | $4,124.00 | $4,065.00 |
| Silver Price | $60.13 | $59.92 |
| Gold:Silver ratio | 68.67:1 | 67.83:1. |
| Gold Miners bullish percent index | 25.33 | 24.66 |
| Dollar Index | 100.94 | 101.07 |
| Dow: Gold Ratio (BahaUS BahaUS 52,419.00 Gold price, 4,124.00) | 12.71 | 12.87 |
| Current USA inflation rate (Dept. of Statistics) | 4.2% | 3.8% |
| Mannarino Market Index | 286.0 | 282.0 |
| Buffet Index -strongly overvalued markets 2.1 standard deviations above normal | 219% | 219% |
| 10 Year Yield | 4.56% | 4.49% |
Gold’s low of the week was $4,022.00, and the high was $4,202.00, now trading at around $4,122.00.
- Gold Monthly: is a SELL. (25 March 2026). Looking more positive. Still negative signals.
- Gold Weekly: (SELL 19 March 2026) Glimmerings of a reversal
- Gold Daily: (BUY 6 July 2026).
The low for Silver this week was $57.21 and the high $63.26, trading around $60.10 at present.
- Silver Monthly: (SELL: 20260430. ( Buy $24.00 March 2024 to Sell May 2026 $73.13 = 204% Gain in 2 years 2 months).
- Silver Weekly: (SELL: 09 February 2026). No new buy on the indicators yet but looking hopeful.
- Silver Daily: SELL (18 June 2026). Encouraging turnaround signals. Almost another buy attempt during the coming week.
Fort Kobbe International Vaults provides secure storage services only and does not buy, sell, broker, recommend or act as an intermediary in precious metals transactions.
Clients who request an introduction to an independent precious metals supplier may contact our preferred partners by clicking here.
Any purchase or sale is conducted solely between the client and the selected supplier.
A video by Mike Adams on the Goldbacks. Well worth a look. watch here
On the Stockcharts.com charts above, 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
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.
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