Where are the prices of Gold and Silver going? In my opinion, a lot higher.
Mexico has joined China in restricting exports of silver. A good portion of the silver used in the US comes from Mexico. This is excellent political leverage against the US. I understand the Mexican reaction. How long before the restricted supply shows up in shortages and, as a result, higher prices? In my opinion, we are nowhere near the proper market prices of gold and silver. Do not forget that silver is also a byproduct of gold mining too.
Over $118.00 paid for 840,000 ounces of silver on the Shanghai market. It trades right now on Western markets at $92.57. This makes no sense from a financial perspective. This cannot be fixed by delivering silver to Shanghai, as one needs the physical silver to close the gap. Where will the manufactured paper price go? It has to be close to the physical price.
This brings me to the stocks of Silver and Gold.
The gold shares are outperforming physical gold and have been since the beginning of November. Silver shares have been lagging the silver price since September last year. That is about to change. Silver stocks relative to physical silver are about as cheap as one can get.
Why are they lagging? Political risk, disbelief that silver can hold current prices, let alone go higher from here.
- Cost inflation in the silver mines
- Silver miners trade as equities first then as metals suppliers
- Dilutive financing, robbing shareholders of value
- Prices driven by physical tightness and industrial demand
- Miners benefit only after new contracts at higher prices are signed
- Higher prices have not established a floor at these levels yet.
- Some miners have hedged future production at much lower prices
- Large institutions are waiting for price stability
In my opinion all the indicators are pointing to higher silver prices and the stocks are relatively dirt cheap. Assuming the price settles back at $73.00 to $75.00 the stocks still have room for stirling performance. Look at the chart below.
When I see American Eagles quoted at $169.00, I wonder where the price will go.
PLATINUM
BUY: On the monthly chart (BUY: April 2025) We have a buy on Platinum. The spike high was a worry, but the price is recovering well. No sell indicators.
URANIUM
BUY (02 January 2026) URA.
BITCOIN AND GOLD
Gold outperforms Bitcoin (18 December 2025). 18.54 one ounce gold coins buy one bitcoin, this was over 41 ounces almost a year ago. It appears that Bitcoin is reversing. I could call a reversal here except that the chart is already overbought. It is worth waiting a while.
ETHUSD: SELL: (18 January 2026)
BTCUSD: SELL: 19 January 2026. NASDAQ (Cyan).
GOLD AND SILVER STOCKS
06 November 2025 Gold stocks way outperform gold.
Silver outperforms silver stocks (08 December 2025). An early signal. The spike high is a worry but the signals are not giving a sell yet. Almost time to buy silver stocks.
GOLD AND SILVER
Silver to Gold Ratio
Silver is outperforming Gold. (07 November 2025) Silver is coming out of the ground at about 8:1, and the Gold: Silver ratio is 50.37:1. Silver is still a great buy at this time, even over $90.00. The ratio is falling, showing the strength of silver against gold.
GOLD TO USD
Gold outperforms the USD (January 12, 2026). Gold popped in value against the dollar yesterday.
A LOOK AT THE GOLD AND SILVER CHARTS
| Today | Last Week | |
|---|---|---|
| Gold Price | $4,850.00 | $4,470.00 |
| Silver Price | $94.56 | $89.62 |
| Gold:Silver ratio | 51.89:1 | 50.11 |
| Gold Miners bullish percent index | 96.30 | 96.30 |
| Dollar Index | 98.78 | 99.27 |
| Dow:Gold Ratio (BahaUS 49,283.00 Gold price, $4,850.00) | 10.16 | 10.66 |
| Current USA inflation rate (Dept. of Statistics) | 2.7% | 2.7%? |
Gold’s low of the week was $4,595.00, and the high was $4,887.00, now trading at around $4,850.00.
- Gold Monthly: is a HOLD. We bought at $1,800.00 in October 2023. Looking overbought, but it can hold that situation for a while. No sell signal yet.
- Gold Weekly: (HOLD 25 August 2025) Overbought. No sell signals yet.
- Gold Daily: (HOLD: 12 November 2025). The indicators are holding.
The low for Silver this week was $89.87, and the high $95.87 trading around $94.56 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 (12 January 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!
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.
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