Both silver and gold have once again taken a beating this week. I still stand by my conviction that long-term physical holdings should be held, and short-term tradeable metals, stocks, etc. should be traded.
The temptation to sell the physical metals at this time is real.
The psychological reason is simple: risk aversion, losing money hurts, and we don’t want the pain. The practical reasons to sell physical would be: Debt gets resolved without monetization, inflation falls, world geopolitics resolve, real interest yields remain high, and confidence in sovereign bonds returns. I unfortunately don’t see any of the above happening.
Does one sell because interest rates are forecast to increase or should one buy because of the systemic shortage of silver and in the case of gold, should one buy because of the continued rotation out of treasuries and into gold by reserve banks?
I ask myself continually. What has fundamentally changed? We have Russia/Ukraine and US/Israel/Iran, we have Warsh now at the FED, we have President Trump pushing for lower interest rates, we have huge money printing, we have immense (unpayable) debt. So in my opinion the case for holding both metals remains in place.
I have seen gold soar while interest rates rise. It happens when real interest rates are less than nominal rates, for example inflation at 10% while interest rates are at 6%, or if rates increase but the debt burden worsens, or if rates are cut but the currency weakens,or if money printing increases it creates inflation then hard assets increase relatively.
There is the probability of fuel shortages, fertilizer shortages, medicine shortages, food shortages, etc. unless a miracle happens. I do not see this priced in yet.
The main safety nets against these events are precious metals, productive land, backup food and water supplies, fuel reserves, essential tools. Not necessarily in that order.
I still hold my physical metals and I am looking for the imminent reversal of both gold and silver prices. Looking at the weekly charts, the gold retracement has stopped exactly on the 50% reversal. There is strong support at this level and a possible reversal could take place here. I would guess we will see some sort of reversal next week. A fall through this level brings $3640.00 a 61.8% reversal into play. Silver has already fallen through the 61.8% Fibonacci retracement and through the megaphone pattern base line. The next support is around $50.00. Let’s see if this level holds.
PLATINUM
SELL: On the Daily chart (18 May 2026). Almost a buy.
URANIUM
SELL (12 May 2026) URA. Not a buy yet.
BITCOIN AND GOLD
Bitcoin outperforms Gold (10 May 2026). 15.00 One ounce gold coins buys one bitcoin, this was over 41 ounces August 2025.
ETHUSD: BUY: ( 11 June 2026) Almost a sell.
BTCUSD: BUY: 12 June 2026. NASDAQ (Cyan). Almost a sell.
GOLD AND SILVER STOCKS
24 June 2026 Gold outperforms gold stocks.
Silver stocks outperform silver (15 June 2026).
GOLD AND SILVER
Silver to Gold Ratio
Gold outperforming Silver. (28 April 2026) Silver is coming out of the ground at about 8:1 and the Gold: Silver ratio is 69.68:1.
GOLD TO USD
USD outperforms Gold, (23 June 2026).
Copper (SELL: 23 JUNE 2026) A very difficult market to trade right now.
GOLD AND SILVER CHART
| Today | Last Week | |
|---|---|---|
| Gold Price | $4,026.00 | $4,264.00 |
| Silver Price | $58.66 | $63.40 |
| Gold:Silver ratio | 68.67:1 | 64.19:1 |
| Gold Miners bullish percent index | 29.33 | 30.67 |
| Dollar Index | 101.59 | 100.59 |
| Dow: Gold Ratio (BahaUS BahaUS 51,497.00 Gold price, 4,026.00) | 12.79 | 12.13 |
| Current USA inflation rate (Dept. of Statistics) | 4.2% | 3.8% |
| Mannarino Market Index | 299.0 | 277.0 |
| Buffet Index -strongly overvalued markets 2.1 standard deviations above normal | 236% | 236% |
| 10 Year Yield | 4.39% | 4.43% |
Gold’s low of the week was $3,959.00, and the high was $4,220.00, now trading at around $4,022.00.
- Gold Monthly: is a SELL. (25 March 2026).
- Gold Weekly: (SELL 19 March 2026)
- Gold Daily: (SELL 22 June 2026). A very early tentative signal to buy. Then an almost immediate sell.
The low for Silver this week was $55.55, and the high $67.13 trading around $58.45 at present.
- Silver Monthly: (SELL: 20260430. ( Buy $24.00 March 2024 to Sell May 2026 $73.13 = 204% Gain in 2 years 2 months).
- Silver Weekly: (SELL: 09 February 2026). No new buy on the indicators yet. We do have a double candlestick bottom. Not confirmed by other indicators yet.
- Silver Daily: SELL (18 June 2026). A very early call. Let’s see if it holds. Sadly, it did not.
Our partner has stock of both gold, silver and Goldbacks in our vaults available in Panama. Please contact us for more information.
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: watch here
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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