The fundamental picture for silver has worsened in terms of supply, if anything. The three largest traders have massive short positions on silver, so of course they want the price suppressed. The Shanghai premium for real metal is running at present around 11% greater than the western paper price.
On COMEX, there are bets against 213 million ounces of silver in commercial shorts. There are only 85 million ounces of registered metal available for delivery. (Registered does not necessarily mean immediately available for delivery; some may be allocated, some may be non-eligible). The 30 day inventory has increased by 10%, which in the grand scheme, is a drop in the ocean. The shorts have reason to panic. How long can they maintain this charade?
My opinion is to trade the paper on the signals and hold the physical metal.
I have been watching the CPI (Consumer Price Index) for flow-through of the economic measures introduced over the past number of years. CPI rose to 4.2% year-on-year from 3.8% last month, which is a 10.5% increase. In my opinion just the beginning of the increases. Even this number makes no sense when compared with actual cost increases being experienced. Energy up 23.5%, Gasoline up 40.5%, food up enormously ….
In fiat dollars, the oil price has risen 25 times, whereas in gold terms, it is trading at a 40% discount.
Your $1000.00 in 1968 is worth $6.00 in today’s currency, priced in gold.
According to Greg Mannarino
We see the national debt as $39.2 trillion. This hides the reality. According to the Treasury FY2025 Financial report, the 75 year present-value shortfall for Social Security, Medicare and related insurance programs is $88.4 trillion in addition to the $39.2 trillion, making a combined debt of $127.6 trillion.
The above ignores the massive derivatives market which runs into hundreds of trillions of dollars. According to the Office of the Comptroller of the Currency US banks held $208.1 trillion of derivatives exposure at the end of 2025.
If we add derivatives the total debt is about $335.7 trillion.
I wonder how that gets settled and by whom.
PLATINUM
SELL: On the Daily chart (18 May 2026).
URANIUM
SELL (12 May 2026) URA. Not a buy yet.
BITCOIN AND GOLD
Gold outperforms Bitcoin (06 May 2026). 15.07: One ounce of gold coins buys one bitcoin; this was over 41 ounces in August 2025. Appears to be reversing.
ETHUSD: SELL: ( 26 April 2026)
BTCUSD: SELL: 13 May 2026. NASDAQ (Cyan).
GOLD AND SILVER STOCKS
13 May 2026 Gold outperforms gold stocks.
Silver outperforms silver stocks (05 June 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 63.55:1.
GOLD TO USD
USD outperforms Gold (18 May 2026).
Copper (SELL: 05 JUNE 2026)
GOLD AND SILVER CHARTS
| Today | Last Week | |
|---|---|---|
| Gold Price | $4,081.00 | $4,504.00 |
| Silver Price | $63.59 | $77.76 |
| Gold:Silver ratio | 64.19:1 | 60.26:1 |
| Gold Miners bullish percent index | 00.00 | 30.77 |
| Dollar Index | 100.123 | 99.26 |
| Dow: Gold Ratio (BahaUS 50,169.00 Gold price, 4,081.00) | 12.29 | 11.33 |
| Current USA inflation rate (Dept. of Statistics) | 4.2% | 3.8% |
| Mannarino Market Index | 282.0 | 275.0 |
| Buffet Index -strongly overvalued markets 2.1 standard deviations above normal | 236% | 236% |
| 10 Year Yield | 4.53% | 4.46% |
Gold’s low of the week was $4,023.00, and the high was $4,363.00, now trading at around $4,081.00.
- Gold Monthly is a SELL. (25 March 2026) From $1800.00 to $4513.00.
- Gold Weekly: (SELL 19 March 2026)
- Gold Daily: (SELL: 18 May 2026).
The low for Silver this week was $61.43, and the high $69.02 trading around $63.52 at present.
- Silver Monthly: (SELL: 20260430. ( Buy $24.00 in 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.
- Silver Daily: SELL (15 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!
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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