Last week we looked at the S&P500, It was in sell mode. It has had an approximate six-and-a-half percent recovery from 5100 to 5455. We have an uptick in most of my indicators which has triggered a buy signal. 

While this may be a good trade, I worry that we get a lower high and the market reverses. I will be much happier to see the price become a sustainable all-time high.

I would stay out of the market until we get really clear signals and leave these ‘profits’ for traders bolder than me.

I am sitting in Dubai as I write this letter. I am astounded at the lightning speed at which government departments work here. 

To convert my driver’s license took ten minutes for an eye test and fifteen for the conversion and I walked out with the license. My medical took fifteen minutes maximum and fast-tracked with results. 

I ask myself, ‘What has happened in the West?’ Why have we allowed this decay? Is this about employment irrespective of cost to the working individual? We supposedly have the best systems in the world. 

Where are they? Why is everything becoming more inconvenient? It is by design in my opinion.

We have to improve on what we have. Slow deterioration is totally unacceptable.

BITCOIN AND GOLD

BTC:GLD below shows gold outperforming Bitcoin. The spike low means we watch carefully for a reversal. The indicators are not confirming the BTC buy yet.

ETHUSD has just given a buy signal. We wait for it to develop.

BTCUSD we have a spike low and the signals have turned up so watch for a buy. No buy yet.

GOLD AND SILVER STOCKS

Stocks are now outperforming physical gold.

Silver stocks outperform Silver.

GOLD AND SILVER

Silver to Gold Ratio > Gold continues to outperform silver.

GOLD TO USD

Gold is now outperforming the USD. Indications are for a turn around.

A LOOK AT THE GOLD AND SILVER CHARTS

Gold’s low of the week was $2,423.00 and the high was $2,480.00, now trading at around $2,460.00. 

The Gold Miners Bullish Percent Index at 92.86 last week was extremely high. Levels such as this often indicate a price drop ahead. Not to say that a continuation in price appreciation cannot happen, just a heads up to be aware. Prices played out as expected this past week. The level is now 75.

• The monthly chart for Gold  is a hold. We bought in at $1,800.00 in October ‘23 and have held it to date. It looks overbought but the indicators are mainly positive.
• The weekly chart is a buy. Money is still flowing into gold. (Chart Below).
• The daily chart is a buy.

The low for Silver this week was $27.17 and the high $28.11, trading around $28.06 at present.

• Silver on the monthly chart indicates a hold.The signals look neutral to down, but no definitive sell yet. The flow of funds into the metal is negative. 
• The silver weekly chart is out. The price has fallen below support. No indicators are pointing up. (Chart Below).
• The silver daily chart indicates out. It has gone below support. Some indicators are turning up.

Our partner has a 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

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.