Ben Garrison’s cartoon is not so funny. It depicts the dollar being trampled by gold, silver, stocks, and bitcoin. At this time, I concur with his sentiment.
We deal in gold and silver on a daily basis. We contact the mints and the markets continually. Obtaining the client’s metal requirements last week was a challenge.
Seeing the price fall this week has been scary and provokes thoughts of selling. Considering that gold has risen by more than 50% and silver by more than 60% this year, a correction is perfectly rational and selling is a reasonable reaction.
Taking profits is never a wrong move. However, we are not doing so yet because of two primary reasons. Firstly, what does one put the proceeds into, and secondly, the investment thesis of gold and silver has not yet changed. Here is our thinking:
- We believe the spark of the sell-off was The Shanghai Exchange raising margins on precious metals last week, forcing a sell-off off which caused a worldwide price reduction. This is good news as it removes some speculative froth from the market
- Physical supply is drying up due to tighter global regulation on mining and environmental controls, as well as mining being a really tough business in general. On the other side of the coin, Industrial, central bank, and investment demand is growing.
- Markets are ‘manipulated’ to continually shake out weaker hands.
- Geopolitical concerns “decreased” after the ceasefire in the Israel/Hamas arena. Many areas of concern still remain, with far greater flash points still smoldering.
- The dollar is still depreciating broadly and systemically.
- Inflation is still working its way through the system. Currencies lose value in this environment at a faster rate.
- Both gold and silver have been a store of value for thousands of years and when there is only risk around, it makes sense to have return of capital over return on capital.
- Global debt is increasing.
- Gold and Silver are the established sovereign money, with minimal counter party and technological risk.
- Global Central banks are buying gold and silver to protect their currencies.
- Silver is still way undervalued by almost every metric; it has only now, for the first time, breached its 1980s high. This does not take inflation of at least forty years into account.
What are your thoughts? Should we sell gold and/or silver in this environment? We can lock in profits now, but considering the risk of being out of the market and the friction in trading physical, is it worth the trade?
Assuming we do sell, where does one place the proceeds?
- Dollars ? (Depreciated 11% in the first 6 months against a basket of currencies. (Morgan Stanley).
- Stocks ? Buffet index is at an all time high of 217% ( Fair value is 60%, so nearly ¼ the current price with the current GDP)
- Property ? (Illiquid asset, with huge risk in downturns of broad domino price decline).
- Treasuries ? (Artifically low at the moment, and one of the only tools to stop the inflation, so would broadly decline in a rising rate environment, and also one gets paid back in dollars in the future).
- Crypto’s ? (BTC particularly tends to follow the trend of the Nasdaq. At the moment, BTC is a sell on our system. ETH is also a sell on our system. There are numerous catastrophic risks to crypto, which we can cover in another newsletter.
The following matrix says one thing to me, holding gold and silver is the dominant strategy in almost all possible scenarios:
CBDC’s Listen to Jim Ricards and Daniel Cambone here
Assess your own risk for market volatility
PLATINUM
SELL: (14 October 2025). The run-up in the Platinum price has been spectacular; a correction was to be expected. Our system got us out with a profit. The spike low may portend an early recovery.
URANIUM
SELL: (15 October 2025) URA.
BITCOIN AND GOLD
BUY Gold versus Bitcoin (06 October 2025). Gold outperforms Bitcoin. This is changing, but Indicators do not confirm yet.
ETHUSD: SELL: (10 October 2025). The trend still looks down.
BTCUSD: SELL: 10 October 2025. NASDAQ (Cyan).
GOLD AND SILVER STOCK
26 September 2025 Gold outperforms gold stocks. Indicators are positive, but ratio is not showing the change yet.
Silver outperforms silver stocks (18 September 2025). Looking overbought, but no change indicated yet.
GOLD AND SILVER
We have had quite an exciting few months with gold and silver. An incredible run up and a sudden fall. Should we be scared out of the market? I will print the daily, weekly and monthly charts for both so that we can analyse our position.
Silver to Gold Ratio
Gold outperforming Silver. Signal given (15 October 2025). When we think that silver is coming out of the ground at about 8:1 and the Gold: Silver ratio is 90.00, 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
USD outperforms Gold, (22 October 2025).
A LOOK AT THE GOLD AND SILVER CHART
| Today | Last Week | |
|---|---|---|
| Gold Price | $4,136.00 | $4,291.00 |
| Silver Price | $49.28 | $53.89 |
| Gold:Silver ratio | 83.90:1 | 82.20:1 |
| Gold Miners bullish percent index | 66.67 | 100.00 |
| Dollar Index | 99.07 | 98.37 |
| Dow:Gold Ratio (BahaUS 46,510.00 Gold price, $4,136.00) | 11.24 | 10.70 |
| Current USA inflation rate (Dept. of Statistics) | 2.9% | 2.7% |
Gold’s low of the week was $4,002.00 and the high was $4,381.00, now trading at around $4,141.00.
Gold Monthly: is a HOLD. We bought in at $1,800.00 in October 2023. Looking overbought, but it can hold that situation for a while. No sell signal yet. A spike high is forming (a sell signal), we have to wait for the end of the month for confirmation.
Gold Weekly: (HOLD 25 August 2025) Overbought. No sell signals yet. I am worried about the tweezer top that has formed.
Gold Daily: (SELL: 20 October 2025).
The low for Silver this week was $47.46 and the high $52.76, trading around $49.30 at present.
Silver Monthly: Hold. (Buy: $24.00 March 2024). Looking overbought. ( Chart below). No sell signal yet. Spike high. Potential sell signal, we have to wait for confirmation.
Silver Weekly: (BUY: 25 August 2025). Overbought but still positive indicators. Watch for a sell after the spike high.
Silver Daily: SELL (16 October 2025)
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
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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