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A look at the Gold and Silver Charts (19.10.2023)

Overreach Mueller_Trump.BGarrison_cartoon
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The Free Speech Volcano_Tina toon
© With permission granted by Ben Garrison, reproduction and republication is expressly prohibited. Visit Ben Garrison’s website by clicking on this link

I am definitely not a die-hard Trump fan but I have to give him credit where it is due as he has awakened a large portion of the American population and others to the erosion of our rights and undermining of the Constitution.

His fight in a way is our fight and we still have the hard battle to regain our freedoms ahead of us. Even from Trump.

As time passes I wonder if the things we worry about are important.  Our greatest worry should be the deconstruction of the current system and finding a new solution that works to fix the broken status quo. 

The average citizen has no say whatsoever. Who should rule the country is a selection not an election. Should we go to war? All these decisions are out of the hands of us citizens.

Should the government be manipulating markets?

Again we have no say. The regulatory structures are set up to protect the structure.

Should we be on a gold standard? Those that know and obviously control the system will decide. What medicine should we use? We are just pushed into allopathic medicine. 

Big Pharma has bought out the competition and removed their excellent products and practitioners from the market. 

The control goes much deeper than that.

I could go on ad infinitum about how the system has been created to take all power from us. We have, by being complacent and compliant, acceded our rights to them. 

I think of banking, KYC, AML and a plethora of other impositions on business. If they think someone is a criminal, get the evidence and charge them.

I am not the police. Let me focus on running my business. 

The only way we can stop and reverse this, (if it is not too late), is to get together and refuse. We can’t vote out the wrongdoers as the system is rigged against us.

We need our own structures and systems for the people. Our priority is to help one another and make the world a better, friendlier place for all.

Our thoughts now should turn to what freedom means to us and the process we need to follow in order to regain it.

The Israel Gaza situation has the potential to get out of hand. Iran and the Middle East look awful. Russia Ukraine looks to be all over bar the shouting.

China Taiwan is hanging in the wings. North Korea, South Korea and Japan are on the burner. Lots of smaller hotspots are burning.

Irrespective of one’s political or religious standpoint no one of good moral character wants innocent citizens killed or maimed. The destruction on all sides is palpable. This applies to all war situations.

How could the temperature be reduced or normalized? The bad guys and war mongers on all sides have to be identified and ‘removed’. This will not happen without a fight.

The vested interests of the Military Industrial Banking (MIB) complex have war as THE crucial element of their survival. 

There is no concern for the cost of lives and damage to family.

Bitcoin and Gold

Although Bitcoin spiked up to $30,000.00, it subsequently pulled back and trades right now at $28,234.00. A month ago it was trading at a low of $24,900.00. That spike now, in my opinion, maybe a spike high indicating a sell. 

Right now Bitcoin to gold is in a sell Bitcoin state.The spike high as you can see below has not changed the situation.

$BTCUSD:$GOLD Bitcoin to US dollar/Gold CRYPT 19 October 2023

Gold and Silver Stocks

The Gold:HUI ratio at present favors selling physical gold and buying gold stocks. This ratio is looking a little fragile now and could run a little more before turning.

$GOLD:$HUI Gold- Continuous Contract (EOD) Gold Bugs Index - NYSE - 19 October 2023

The Silver to SIL ratio is in a sell silver buy silver stocks mode. It is fairly choppy but looks like the stocks still have a good run ahead.

$SILVER - SIL Silver- Continuous Contract (EOD) Global X Silver Miners ETF 19 October 2023

Gold and Silver

When switching out of physical gold or silver to cash or stocks, the risks should be considered. Although every investment carries risk, at present the risks of cash are: currency risk, government or political risk, inflationary risk, banking risk etc. 

In terms of stocks: broker risk, inflation risk, delivery risk, political risk, mining risk, management risk, commodity risk, war risk, etc.

To be expected, with higher risk come higher returns and it looks like we are beginning to see this after a dismal run.

Gold to US Chart

I get excited when I see the gold price run up in tandem with the dollar. The litany of wars and potential wars that we are watching should have sent the gold price soaring. Although it has reacted it is nothing relative to the risks now in play.

Let’s wait until the dollar begins to fall and inflation really takes hold.

$GOLD:$USD Gold - Continuous Contract (EOD) CME 19 October 2023

Look at the Gold and Silver Charts

TodayLast Week
Gold price$1,952.00$1,875.00
Silver price$22.73$21.98
Gold:Silver ratio85.79:185.21:1
Gold Miners bullish percent index17.8617.86
Dollar Index106.12105.87
Dow:Gold Ratio (BahaUS 33,513.00 Gold price, $1,952.00)17.1718.02
Current USA inflation rate (Dept. of Statistics)3.7%3.7%

Gold’s low of the week was $1,908.00 and the high was $1,962.00, now trading at around $1,952.00.

  • The monthly chart for Gold is an out indicator but recovering well.
  • The weekly chart is in and out of condition but is almost a buy.
  • The daily chart is a buy.
$GOLD Gold - Continuous Contract (EOD) CME 19 October 2023

The low for Silver this week was $22.37 and the high was $23.32, trading around $22.71 at present.

  • Silver on the monthly chart indicates out and most indicators are still negative.
  • The weekly chart has had us on a rollercoaster and is indicating out. The buy indicators are a hair’s breadth away from triggering.
  • The daily chart is a buy.
$SILVER Silver - Continuous Contract (EOD) CME 19 October 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

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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