Italy wants to ‘uncover’ undeclared gold holdings, then assess them and tax them. The article appended below explains it. 

If you were gifted the gold or inherited it or bought it before all the paperwork was necessary. This makes the hair (if I had any) prickle on the back of my neck. Confiscation by another name.

Is this the thin edge of the wedge, and does this portend ill for other countries?

Read more here

Even though gold and silver are so lightly held by individuals, the powers that be do not want you to have financial independence. Rather than confiscate the gold they will rather tax your holdings as they have much better control that way.

What Italy Is Proposing — As Reported

Based on recent reporting:

1. One-Time Levy/Tax Option
   
   • Italy is reportedly considering a one-off tax (levy) on private, undocumented gold holdings—bars, jewelry, coins. MarketScreener UK+2News Minimalist+2
     
   • The proposed rate is 12.5% of the declared market value. GoldSeek+2Jewelbuzz+2
     
   • This is significantly lower than the current 26% tax applied if you sell undocumented gold without proof of purchase. GoldSeek+2Gold Eagle+2
     
   • The deadline for declaring (regularizing) seems to be June 2026. Jewelbuzz+1
     
   • The process would involve “authorized intermediaries” and anti–money laundering checks. 4NEWS.mk
     
   • If someone opts in, they would also “step up” the fiscal basis for future sales — meaning the value they declare now becomes the basis for capital gains later. GoldSeek
     
2. Revenue Estimate
   
   • Italian lawmakers estimate this could raise €1.67–2.08 billion if just 10% of privately held, undocumented gold is declared. La Presse+2Odnako+2
     
   • Some think there may be 4,500–5,000 metric tons of privately held gold in Italy. MarketScreener UK
     
3. Rationale by the Government
   
   • The stated goal: to “bring gold into the formal economy,” increase tax transparency, and improve market liquidity. MarketScreener UK
     
   • Lawmakers argue the current tax burden for undocumented gold discourages people from selling legally (because of the 26% rate). Jewelbuzz
     
   • They frame it as a kind of “regularization” or “amnesty-like” opportunity. Odnako+1
     
4. Political & Budget Context
   
   • This is tied to the 2026 budget law. Jewelbuzz
     
   • The government is looking for new revenue sources; this gold measure is pitched as a way to plug a “budget hole.” GoldSeek
     

Concerns & Analysis

That this feels like confiscation by another name—is quite reasonable. Here are some key points and risks, plus how likely the fears are to materialize, based on the information:

1. Is This Confiscation?
   
   • Not exactly “confiscation” in the literal sense: The government is not forcibly seizing gold without compensation. Instead, they are offering a tax-amnesty-style deal: declare it, pay a lower rate now, and legitimize your holdings.
     
   • But, there is a coercive element: the choice is between paying 12.5% now or risking 26% later if you sell and don’t have documentation. For many, that differential could be a very powerful motivation to comply.
     
   • The need to go through “authorized intermediaries” and AML checks adds a level of scrutiny that could feel invasive, especially for private or inherited gold that’s been kept in the family.
   • It is also now a complete database of who holds physical gold and where it is held which opens it up for increased future taxation or actual confiscation.
     
2. Fairness & Moral Hazard
   
   • People who inherited or were gifted gold decades ago often don’t have formal purchase documents. This proposal disproportionately impacts them.
     
   • On the other hand, the government may argue this levels the playing field: undocumented gold hasn’t paid tax in the same way as other financial assets.
     
3. Precedent & “Thin Edge of the Wedge” Risk
   
   • Yes, this move could be a slippery slope. If a government can tax undeclared physical assets like gold, what’s to stop similar measures on other tangible assets (e.g., art, collectibles, even real estate holdings that are off the books)?
     
   • Historically, governments have used “regularization” or amnesty programs to surface hidden wealth. Italy itself has done tax amnesties before. Wikipedia+1
     
   • That said, tax amnesties also carry political risk: if too many people comply, they might not raise as much revenue; if too few comply, they may not justify the political capital. So it’s not a guaranteed template for unlimited future confiscation, but it’s a tool in the toolbox.
     
4. Global Implications
   
   • Could other countries do something similar? Yes. Especially in nations with high debt or budget deficits, governments may look for nontraditional revenue sources.
     
   • However, whether other countries follow depends on political will, the volume of privately held gold, and how much gold is held off-books. Not every country has a large “hidden” gold stockpile among citizens.
     
   • It also depends on tax enforcement infrastructure (AML frameworks, intermediary networks, valuation systems).
     
5. Control vs. Freedom
   
   • Broader point—“powers that be do not want financial independence”—is well taken. Gold is often seen as a form of independence from the banking/fiat system.
     
   • By encouraging/forcing formalization and documentation, the state gains more visibility and control over these assets.
     
   • Taxing rather than confiscating gives the state both revenue and a legal, “voluntary” pathway to bring assets under oversight. It’s more politically palatable than outright seizure.
   • This also opens the door for tokenization and digitalization of every bar or coin for tracking of any movement of all gold and other assets in the future.

PLATINUM

SELL: (14 November 2025).

URANIUM

SELL: (15 October 2025) URA. Looks like it is recovering, no buy signal yet.

BITCOIN AND GOLD

Gold outperforms Bitcoin  (05 November 2025).  22.05 one ounce gold coins buys a bitcoin, this was over 41 ounces almost a year ago.

ETHUSD: SELL: (30October 2025)

BTCUSD: SELL: 30 October 2025.  NASDAQ (Cyan).

GOLD AND SILVER STOCKS

06 November 2025 Gold stocks outperform gold. 

Silver outperforms silver stocks (18 September 2025). Looking overbought but no change indicated yet. Close to a change.

GOLD AND SILVER

Silver to Gold Ratio

Silver outperforming Gold. (07 November 2025)  When we think that silver is coming out of the ground at about 8:1 and the Gold: Silver ratio is 79.68:1 something is way out of kilter. Silver is an astounding buy at this time or gold is in for an extremely heavy correction. Love seeing the ratio move in the right direction.

GOLD TO USD

Gold outperforms USD, (11 November 2025).  I am getting strong signals for change, but the rate of change disagrees. I will wait to have more certainty.

A LOOK AT THE GOLD AND SILVER CHARTS

Gold’s low of the week was $3,997.00, and the high was $4,132.00, now trading at around $4,088.00.

• Gold Monthly:  is a HOLD. We bought it $1,800.00 in October 2023.  Looking overbought, but it can hold that situation for a while. No sell signal yet.  A spike high has formed (a sell signal), and we have to wait for the end of the month for confirmation. No sell yet.

• Gold Weekly:  (HOLD 25 August 2025)   Overbought. No sell signals yet. 

• Gold Daily: (HOLD: 12 November 2025).  It almost looked like a sell on the daily chart but the indicators are holding.

The low for Silver this week was $49.10 and the high $52.47, trading around $50.94 at present. 

• Silver Monthly: Hold. (Buy:  $24.00 March 2024). Looking overbought. No sell signal yet.

• Silver Weekly: (HOLD: 25 August 2025). Overbought but still positive indicators.

• Silver Daily: HOLD (10 November 2025).  Silver looks like it is forming a cup and handle. If this pattern completes then the price should blast upwards.

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!

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

An interview with Josh, owner of Scottsdale Mint:

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.